Waycross Investment Management Co Cuts Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Waycross Investment Management Co lessened its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 2.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,879 shares of the basic materials company’s stock after selling 285 shares during the period. Steel Dynamics makes up approximately 1.7% of Waycross Investment Management Co’s portfolio, making the stock its 18th largest position. Waycross Investment Management Co’s holdings in Steel Dynamics were worth $1,583,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the business. Holocene Advisors LP boosted its holdings in Steel Dynamics by 85.8% in the third quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock valued at $289,400,000 after purchasing an additional 1,060,007 shares during the period. Pacer Advisors Inc. grew its position in shares of 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 in the last quarter. Thrivent Financial for Lutherans increased its stake in shares of 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Steel Dynamics by 6.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company’s stock worth $194,933,000 after buying an additional 96,122 shares during the period. Finally, Nordea Investment Management AB raised its holdings in Steel Dynamics by 22.4% in the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock valued at $158,487,000 after acquiring an additional 253,802 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Price Performance

STLD stock opened at $123.27 on Tuesday. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $18.77 billion, a P/E ratio of 11.16 and a beta of 1.36. The business has a 50 day simple moving average of $130.87 and a 200-day simple moving average of $126.54. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter in the prior year, the business earned $3.47 EPS. Steel Dynamics’s quarterly revenue was down 5.4% compared to the same quarter last year. As a group, equities analysts anticipate that Steel Dynamics, Inc. will post 10.09 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is presently 16.65%.

Insiders Place Their Bets

In related news, VP Chad Bickford sold 2,000 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 17,100 shares in the company, valued at $2,306,106. This trade represents a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Glenn Pushis sold 17,941 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now owns 146,693 shares in the company, valued at $19,523,371.37. The trade was a 10.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,591 shares of company stock valued at $3,885,938. 6.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on STLD shares. JPMorgan Chase & Co. increased their price objective on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Jefferies Financial Group decreased their price target on Steel Dynamics from $145.00 to $125.00 and set a “hold” rating for the company in a report on Monday, January 6th. 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. The Goldman Sachs Group initiated coverage on Steel Dynamics in a research note on Monday, December 2nd. They set a “neutral” rating and a $155.00 target price for the company. Finally, UBS Group reiterated a “neutral” rating and issued a $149.00 price target (up from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Steel Dynamics presently has an average rating of “Hold” and a consensus target price of $141.13.

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.