Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Swiss National Bank

Swiss National Bank reduced its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 443,100 shares of the basic materials company’s stock after selling 1,700 shares during the period. Swiss National Bank owned 0.29% of Steel Dynamics worth $55,866,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of STLD. National Bank of Canada FI boosted its position in Steel Dynamics by 481.2% during the second quarter. National Bank of Canada FI now owns 328,795 shares of the basic materials company’s stock worth $42,461,000 after acquiring an additional 272,226 shares during the last quarter. Skandinaviska Enskilda Banken AB publ boosted its holdings in shares of Steel Dynamics by 65.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company’s stock worth $74,064,000 after purchasing an additional 225,832 shares during the last quarter. Swedbank AB purchased a new stake in shares of Steel Dynamics in the first quarter valued at $32,178,000. Renaissance Technologies LLC purchased a new stake in shares of Steel Dynamics in the second quarter valued at $24,670,000. Finally, Price T Rowe Associates Inc. MD lifted 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. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have commented on STLD shares. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Morgan Stanley cut their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 18th. JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, BMO Capital Markets increased their target price on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $144.29.

Insider Buying and Selling

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $138.75, for a total transaction of $277,500.00. Following the sale, the senior vice president now directly owns 21,101 shares in the company, valued at $2,927,763.75. The trade was a 8.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the transaction, the senior vice president now directly owns 146,693 shares in the company, valued at approximately $19,523,371.37. The trade was a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,591 shares of company stock valued at $3,885,938 in the last quarter. Company insiders own 6.10% of the company’s stock.

Steel Dynamics Trading Down 0.3 %

NASDAQ:STLD opened at $140.24 on Wednesday. The business’s 50-day moving average is $130.21 and its two-hundred day moving average is $127.18. The firm has a market capitalization of $21.35 billion, a PE ratio of 12.69 and a beta of 1.31. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.98 by $0.07. The business 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%. During the same period last year, the business posted $3.47 EPS. The company’s revenue was down 5.4% on a year-over-year basis. Research analysts predict that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.31%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics’s payout ratio is 16.65%.

Steel Dynamics 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.