Burney Co. Trims Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Burney Co. trimmed its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 37.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,799 shares of the basic materials company's stock after selling 4,711 shares during the period. Burney Co.'s holdings in Steel Dynamics were worth $890,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Private Advisor Group LLC raised its holdings in Steel Dynamics by 4.7% during the second quarter. Private Advisor Group LLC now owns 4,068 shares of the basic materials company's stock valued at $527,000 after acquiring an additional 184 shares during the period. American Century Companies Inc. grew its position in shares of Steel Dynamics by 9.4% during the second quarter. American Century Companies Inc. now owns 225,239 shares of the basic materials company's stock worth $29,168,000 after purchasing an additional 19,348 shares in the last quarter. Federated Hermes Inc. raised its stake in Steel Dynamics by 8.1% during the 2nd quarter. Federated Hermes Inc. now owns 48,498 shares of the basic materials company's stock valued at $6,280,000 after purchasing an additional 3,631 shares during the period. Envestnet Asset Management Inc. lifted its holdings in Steel Dynamics by 9.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 230,922 shares of the basic materials company's stock worth $29,904,000 after purchasing an additional 19,853 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its stake in Steel Dynamics by 10.1% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 19,487 shares of the basic materials company's stock worth $2,524,000 after purchasing an additional 1,792 shares during the period. Hedge funds and other institutional investors own 82.41% of the company's stock.

Analyst Upgrades and Downgrades

STLD has been the topic of several recent analyst reports. BNP Paribas upgraded shares of Steel Dynamics from a "neutral" rating to an "outperform" rating in a research report on Friday, January 3rd. Bank of America upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. BMO Capital Markets raised their price objective on Steel Dynamics from $130.00 to $135.00 and gave the company a "market perform" rating in a research report on Friday, October 18th. The Goldman Sachs Group assumed coverage on Steel Dynamics in a research report on Monday, December 2nd. They issued a "neutral" rating and a $155.00 target price on the stock. Finally, UBS Group restated a "neutral" rating and set a $149.00 price target (up previously from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Six research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Steel Dynamics currently has an average rating of "Hold" and an average target price of $140.88.

Steel Dynamics Trading Up 0.7 %

STLD traded up $0.83 on Friday, hitting $125.83. The company had a trading volume of 1,359,763 shares, compared to its average volume of 1,683,360. The business's fifty day simple moving average is $129.59 and its 200 day simple moving average is $126.48. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56. The company has a market cap of $19.16 billion, a PE ratio of 11.39 and a beta of 1.36.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same period last year, the company earned $3.47 EPS. The company's revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts expect that Steel Dynamics, Inc. will post 9.78 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Tuesday, December 31st. Steel Dynamics's payout ratio is 16.65%.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 6,650 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the transaction, the senior vice president now owns 116,949 shares in the company, valued at $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Chad Bickford sold 2,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the sale, the vice president now owns 17,100 shares in the company, valued at approximately $2,306,106. The trade was a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,591 shares of company stock worth $3,885,938 over the last quarter. Insiders own 6.10% of the company's stock.

Steel Dynamics Profile

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.