Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Balentine LLC

Balentine LLC lowered its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 3.3% in the fourth quarter, Holdings Channel reports. The firm owned 4,091 shares of the basic materials company’s stock after selling 141 shares during the quarter. Balentine LLC’s holdings in Steel Dynamics were worth $483,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. Signaturefd LLC increased its holdings in Steel Dynamics by 0.9% during the 4th quarter. Signaturefd LLC now owns 10,698 shares of the basic materials company’s stock valued at $1,263,000 after acquiring an additional 93 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of Steel Dynamics by 25.8% during the fourth quarter. Global Retirement Partners LLC now owns 478 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 98 shares during the period. Allworth Financial LP raised its stake in shares of Steel Dynamics by 2.2% during the fourth quarter. Allworth Financial LP now owns 4,853 shares of the basic materials company’s stock valued at $573,000 after purchasing an additional 103 shares during the period. Greenfield Savings Bank increased its stake in shares of Steel Dynamics by 0.9% in the fourth quarter. Greenfield Savings Bank now owns 11,591 shares of the basic materials company’s stock worth $1,369,000 after buying an additional 108 shares during the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Steel Dynamics by 1.4% in the third quarter. Oppenheimer & Co. Inc. now owns 8,196 shares of the basic materials company’s stock worth $879,000 after buying an additional 115 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Trading Up 1.0 %

Shares of STLD stock opened at $134.35 on Wednesday. The business’s 50 day moving average is $138.85 and its two-hundred day moving average is $125.94. The company has a market cap of $21.11 billion, a PE ratio of 9.23 and a beta of 1.47. The company has a quick ratio of 1.55, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. Steel Dynamics, Inc. has a 12 month low of $90.55 and a 12 month high of $151.34.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.54 by $0.13. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. Steel Dynamics’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period last year, the business earned $4.01 earnings per share. Equities analysts predict that Steel Dynamics, Inc. will post 12.36 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a dividend yield of 1.37%. Steel Dynamics’s payout ratio is presently 12.64%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Jefferies Financial Group assumed coverage on shares of Steel Dynamics in a research note on Monday. They set a “hold” rating and a $150.00 target price for the company. BMO Capital Markets upped their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, March 18th. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Citigroup upped their price objective on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Finally, UBS Group reduced their price target on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a research report on Wednesday, January 24th. 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’s stock. Based on data from MarketBeat, Steel Dynamics currently has an average rating of “Hold” and a consensus target price of $125.29.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Christopher A. Graham sold 21,000 shares of Steel Dynamics stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total value of $2,873,010.00. Following the completion of the transaction, the senior vice president now directly owns 60,415 shares of the company’s stock, valued at $8,265,376.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 6.10% of the company’s stock.

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.