Private Trust Co. NA Sells 92 Shares of Steel Dynamics, Inc. $STLD

Private Trust Co. NA cut its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 27.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 242 shares of the basic materials company’s stock after selling 92 shares during the quarter. Private Trust Co. NA’s holdings in Steel Dynamics were worth $31,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in STLD. Victory Capital Management Inc. grew its stake in shares of Steel Dynamics by 433.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company’s stock valued at $227,211,000 after acquiring an additional 1,475,767 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of Steel Dynamics by 25.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company’s stock valued at $883,854,000 after acquiring an additional 1,437,897 shares during the period. Nordea Investment Management AB grew its stake in shares of Steel Dynamics by 43.3% during the 2nd quarter. Nordea Investment Management AB now owns 2,088,372 shares of the basic materials company’s stock valued at $271,238,000 after acquiring an additional 630,935 shares during the period. Nuveen LLC bought a new position in shares of Steel Dynamics during the 1st quarter valued at approximately $62,470,000. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in Steel Dynamics by 40.6% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,675,973 shares of the basic materials company’s stock worth $214,541,000 after purchasing an additional 484,304 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on STLD shares. Weiss Ratings reissued a “hold (c)” rating on shares of Steel Dynamics in a report on Wednesday, October 8th. Jefferies Financial Group boosted their price target on Steel Dynamics from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday. BMO Capital Markets boosted their price target on Steel Dynamics from $155.00 to $167.00 and gave the stock an “outperform” rating in a report on Wednesday. Wells Fargo & Company upped their price objective on Steel Dynamics from $150.00 to $169.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, UBS Group set a $158.00 price objective on Steel Dynamics and gave the stock a “buy” rating in a report on Tuesday. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $162.44.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $152.95 on Friday. The stock’s fifty day moving average is $137.91 and its 200 day moving average is $131.80. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $156.24. The firm has a market capitalization of $22.52 billion, a PE ratio of 20.26, a PEG ratio of 1.26 and a beta of 1.40. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.13.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Monday, October 20th. The basic materials company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.11. Steel Dynamics had a return on equity of 12.93% and a net margin of 6.39%.The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the firm posted $2.05 EPS. Steel Dynamics’s quarterly revenue was up 11.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.3%. The ex-dividend date was Tuesday, September 30th. Steel Dynamics’s dividend payout ratio is presently 26.49%.

Insider Buying and Selling

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the company’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total value of $1,520,520.00. Following the transaction, the senior vice president owned 66,738 shares of the company’s stock, valued at $8,456,371.98. This represents a 15.24% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.30% of the stock is owned by company insiders.

About Steel Dynamics

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.