Securian Asset Management Inc. lessened its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD – Free Report) by 43.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,703 shares of the basic materials company’s stock after selling 2,836 shares during the quarter. Securian Asset Management Inc.’s holdings in Steel Dynamics were worth $627,000 as of its most recent SEC filing.
Several other institutional investors also recently added to or reduced their stakes in STLD. Sound Income Strategies LLC grew its position in shares of Steel Dynamics by 1,500.0% during the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 150 shares during the last quarter. Cornerstone Planning Group LLC raised its position in Steel Dynamics by 1,636.4% in the 3rd quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 180 shares during the last quarter. Torren Management LLC purchased a new stake in Steel Dynamics in the 4th quarter valued at $34,000. Nvest Wealth Strategies Inc. acquired a new stake in Steel Dynamics during the 4th quarter worth $42,000. Finally, Eagle Bay Advisors LLC acquired a new stake in Steel Dynamics during the 4th quarter worth $45,000. Institutional investors and hedge funds own 82.41% of the company’s stock.
Insider Buying and Selling at Steel Dynamics
In other news, Director Kenneth W. Cornew sold 5,000 shares of the company’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the transaction, the director directly owned 31,299 shares of the company’s stock, valued at $7,038,206.13. This represents a 13.77% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the completion of the transaction, the senior vice president owned 28,618 shares of the company’s stock, valued at $6,699,759.98. This represents a 7.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 12,125 shares of company stock valued at $2,751,227. 6.60% of the stock is owned by company insiders.
Steel Dynamics Trading Down 1.0%
Steel Dynamics (NASDAQ:STLD – Get Free Report) last released its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). The business had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The business’s revenue for the quarter was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.44 EPS. Equities research analysts expect that Steel Dynamics, Inc. will post 14.77 EPS for the current year.
Steel Dynamics Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be given a $0.53 dividend. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 0.9%. Steel Dynamics’s dividend payout ratio is presently 22.67%.
Analyst Upgrades and Downgrades
A number of research analysts have commented on STLD shares. JPMorgan Chase & Co. lifted their price objective on shares of Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. KeyCorp increased their target price on shares of Steel Dynamics from $190.00 to $241.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 22nd. BMO Capital Markets boosted their price target on Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Wells Fargo & Company upped their price objective on Steel Dynamics from $207.00 to $235.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Finally, Citigroup increased their price objective on Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Six equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, Steel Dynamics currently has an average rating of “Hold” and a consensus price target of $214.30.
Get Our Latest Analysis on Steel Dynamics
About Steel Dynamics
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.
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