Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Prudential PLC

Prudential PLC lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLDFree Report) by 17.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 76,241 shares of the basic materials company’s stock after selling 16,325 shares during the period. Prudential PLC’s holdings in Steel Dynamics were worth $9,004,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STLD. CVA Family Office LLC acquired a new position in Steel Dynamics during the fourth quarter worth $28,000. Turtle Creek Wealth Advisors LLC acquired a new position in Steel Dynamics during the fourth quarter worth $29,000. Lindbrook Capital LLC boosted its stake in Steel Dynamics by 117.5% during the fourth quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock worth $29,000 after buying an additional 134 shares during the last quarter. Exchange Traded Concepts LLC acquired a new position in Steel Dynamics during the fourth quarter worth $44,000. Finally, Denali Advisors LLC boosted its stake in Steel Dynamics by 99.0% during the fourth quarter. Denali Advisors LLC now owns 406 shares of the basic materials company’s stock worth $48,000 after buying an additional 202 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Christopher A. Graham sold 21,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the sale, the senior vice president now owns 60,415 shares in the company, valued at approximately $8,265,376.15. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 6.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

STLD has been the topic of several recent analyst reports. BMO Capital Markets upped their price target on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, March 18th. Jefferies Financial Group initiated coverage on Steel Dynamics in a research note on Monday, May 20th. They issued a “hold” rating and a $150.00 price target on the stock. Citigroup upped their price target on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Finally, JPMorgan Chase & Co. upped their price target on Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $125.29.

View Our Latest Report on STLD

Steel Dynamics Trading Down 2.2 %

Shares of STLD stock traded down $2.83 on Friday, hitting $125.52. The stock had a trading volume of 1,308,458 shares, compared to its average volume of 1,172,077. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55. The firm has a market capitalization of $19.72 billion, a P/E ratio of 8.63 and a beta of 1.40. Steel Dynamics, Inc. has a 1 year low of $95.53 and a 1 year high of $151.34. The company’s 50 day moving average price is $136.49 and its 200-day moving average price is $127.54.

Steel Dynamics (NASDAQ:STLDGet Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.54 by $0.13. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The firm had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the business earned $4.01 EPS. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. Analysts anticipate that Steel Dynamics, Inc. will post 12.44 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Sunday, June 30th will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.84 annualized dividend and a yield of 1.47%. Steel Dynamics’s dividend payout ratio (DPR) is 12.64%.

Steel Dynamics Company Profile

(Free Report)

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.

Further Reading

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

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