Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Aviso Wealth Management

Aviso Wealth Management decreased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 2.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,552 shares of the basic materials company’s stock after selling 75 shares during the period. Aviso Wealth Management’s holdings in Steel Dynamics were worth $322,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in Steel Dynamics by 4.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock worth $534,295,000 after buying an additional 152,254 shares during the period. Pacer Advisors Inc. increased its position in Steel Dynamics by 7.0% during the second quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company’s stock worth $276,891,000 after buying an additional 140,042 shares during the period. Thrivent Financial for Lutherans increased its position in Steel Dynamics by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company’s stock worth $228,999,000 after buying an additional 22,390 shares during the period. LSV Asset Management increased its position in Steel Dynamics by 3.9% during the second quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company’s stock worth $182,604,000 after buying an additional 53,532 shares during the period. Finally, AustralianSuper Pty Ltd increased its holdings in shares of Steel Dynamics by 1.8% in the second quarter. AustralianSuper Pty Ltd now owns 592,255 shares of the basic materials company’s stock valued at $76,697,000 after purchasing an additional 10,701 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on STLD shares. JPMorgan Chase & Co. boosted their target price on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a report on Friday, October 18th. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. BMO Capital Markets upped their price objective on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, Morgan Stanley dropped their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $144.29.

Insider Activity

In other news, SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the sale, the senior vice president now directly owns 146,693 shares in the company, valued at $19,523,371.37. This represents a 10.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Chad Bickford sold 2,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the transaction, the vice president now owns 17,100 shares of the company’s stock, valued at $2,306,106. The trade was a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 26,591 shares of company stock worth $3,608,438 over the last three months. 6.00% of the stock is currently owned by corporate insiders.

Steel Dynamics Stock Up 1.2 %

STLD opened at $139.41 on Monday. The business’s fifty day moving average is $128.98 and its two-hundred day moving average is $127.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. The company has a market cap of $21.22 billion, a price-to-earnings ratio of 12.62 and a beta of 1.31. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. Steel Dynamics’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the previous year, the business earned $3.47 earnings per share. Analysts anticipate that Steel Dynamics, Inc. will post 10.1 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a $0.46 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.32%. Steel Dynamics’s dividend payout ratio is currently 16.65%.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.