Leavell Investment Management Inc. Cuts Holdings in Steel Dynamics, Inc. $STLD

Leavell Investment Management Inc. reduced its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 23.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 26,016 shares of the basic materials company’s stock after selling 8,000 shares during the period. Leavell Investment Management Inc.’s holdings in Steel Dynamics were worth $3,640,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STLD. Trust Co. of Toledo NA OH bought a new position in Steel Dynamics during the second quarter valued at $30,000. Rosenberg Matthew Hamilton lifted its holdings in shares of Steel Dynamics by 306.2% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 199 shares during the last quarter. True Wealth Design LLC grew its position in Steel Dynamics by 120.4% in the second quarter. True Wealth Design LLC now owns 324 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 177 shares in the last quarter. Toth Financial Advisory Corp increased its stake in Steel Dynamics by 50.0% during the third quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 100 shares during the last quarter. Finally, CYBER HORNET ETFs LLC purchased a new stake in Steel Dynamics during the second quarter valued at approximately $50,000. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Price Performance

Shares of STLD stock opened at $173.58 on Friday. The company has a current ratio of 3.11, a quick ratio of 1.47 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $178.36. The stock has a fifty day simple moving average of $167.46 and a two-hundred day simple moving average of $147.52. The stock has a market capitalization of $25.35 billion, a price-to-earnings ratio of 22.99, a P/E/G ratio of 0.72 and a beta of 1.48.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, October 21st. The basic materials company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.63 by $0.11. The business had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.05 EPS. On average, analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Wednesday, December 31st. Steel Dynamics’s payout ratio is presently 26.49%.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of Steel Dynamics stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total value of $1,343,180.29. Following the transaction, the senior vice president owned 117,068 shares in the company, valued at $19,057,499.72. The trade was a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.30% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on STLD shares. Jefferies Financial Group raised their price objective on Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Wells Fargo & Company lifted their price target on shares of Steel Dynamics from $172.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, December 15th. JPMorgan Chase & Co. upped their price target on shares of Steel Dynamics from $165.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, December 5th. UBS Group set a $165.00 price objective on shares of Steel Dynamics in a research note on Tuesday, November 4th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $194.00 target price (up previously from $173.00) on shares of Steel Dynamics in a research note on Friday, January 9th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, Steel Dynamics currently has a consensus rating of “Hold” and an average target price of $182.00.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.