JustInvest LLC Trims Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

JustInvest LLC trimmed its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 14.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,667 shares of the basic materials company’s stock after selling 967 shares during the quarter. JustInvest LLC’s holdings in Steel Dynamics were worth $331,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in Steel Dynamics in the 3rd quarter worth approximately $25,000. Capital Analysts LLC boosted its stake in Steel Dynamics by 97.3% in the 3rd quarter. Capital Analysts LLC now owns 446 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 220 shares during the period. Tobam bought a new position in Steel Dynamics in the 2nd quarter worth approximately $41,000. O Shaughnessy Asset Management LLC boosted its stake in Steel Dynamics by 91.1% in the 2nd quarter. O Shaughnessy Asset Management LLC now owns 818 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 390 shares during the period. Finally, Harvest Fund Management Co. Ltd boosted its stake in Steel Dynamics by 164.9% in the 2nd quarter. Harvest Fund Management Co. Ltd now owns 861 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 536 shares during the period. 78.67% of the stock is owned by institutional investors.

Several research analysts have weighed in on STLD shares. Wolfe Research downgraded Steel Dynamics from a “peer perform” rating to an “underperform” rating and set a $60.00 price target for the company. in a research note on Tuesday. Morgan Stanley downgraded Steel Dynamics from an “overweight” rating to an “equal weight” rating and set a $62.00 target price for the company. in a research report on Monday, October 18th. Zacks Investment Research upgraded Steel Dynamics from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research report on Monday, December 6th. Finally, The Goldman Sachs Group lowered their target price on Steel Dynamics from $87.00 to $72.00 and set a “buy” rating for the company in a research report on Wednesday, October 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $70.00.

STLD stock opened at $62.21 on Friday. The company has a quick ratio of 1.51, a current ratio of 2.91 and a debt-to-equity ratio of 0.56. The business’s fifty day simple moving average is $62.63 and its two-hundred day simple moving average is $63.16. Steel Dynamics, Inc. has a twelve month low of $33.77 and a twelve month high of $74.37. The firm has a market cap of $12.35 billion, a price-to-earnings ratio of 5.61 and a beta of 1.49.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Sunday, October 17th. The basic materials company reported $4.96 earnings per share for the quarter, topping analysts’ consensus estimates of $4.47 by $0.49. Steel Dynamics had a return on equity of 50.02% and a net margin of 14.72%. The business had revenue of $5.09 billion for the quarter, compared to analyst estimates of $5.10 billion. During the same quarter last year, the firm posted $0.51 earnings per share. The business’s revenue was up 118.3% compared to the same quarter last year. Research analysts expect that Steel Dynamics, Inc. will post 16.42 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 14th. Shareholders of record on Friday, December 31st were paid a $0.26 dividend. The ex-dividend date of this dividend was Thursday, December 30th. This represents a $1.04 dividend on an annualized basis and a yield of 1.67%. Steel Dynamics’s payout ratio is 9.38%.

In other news, SVP Miguel Alvarez sold 8,220 shares of the firm’s stock in a transaction on Tuesday, October 26th. The stock was sold at an average price of $67.60, for a total transaction of $555,672.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company insiders own 5.20% of the company’s stock.

Steel Dynamics Company Profile

Steel Dynamics, Inc engages in the manufacture of steel products and metal recycling. It operates through the following segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment consists of sheet products including hot roll, cold roll, and coated steel; long products including structural steel beams, pilings, and standard and premium grade rail; and steel finishing services such as turning, polishing, straightening, chamfering, threading, and precision saw-cutting.

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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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