Charles Schwab Investment Management Inc. Trims Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Charles Schwab Investment Management Inc. cut its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 1.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,363,235 shares of the basic materials company's stock after selling 14,204 shares during the period. Charles Schwab Investment Management Inc. owned 0.88% of Steel Dynamics worth $171,877,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Price T Rowe Associates Inc. MD increased its holdings in Steel Dynamics by 4.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company's stock valued at $534,295,000 after buying an additional 152,254 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Steel Dynamics by 7.0% in the 2nd quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company's stock valued at $276,891,000 after acquiring an additional 140,042 shares during the last quarter. Thrivent Financial for Lutherans raised its position in shares of Steel Dynamics by 1.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company's stock worth $228,999,000 after acquiring an additional 22,390 shares in the last quarter. LSV Asset Management lifted its stake in Steel Dynamics by 3.9% during the second quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company's stock worth $182,604,000 after purchasing an additional 53,532 shares during the last quarter. Finally, AustralianSuper Pty Ltd boosted its holdings in Steel Dynamics by 1.8% in the second quarter. AustralianSuper Pty Ltd now owns 592,255 shares of the basic materials company's stock valued at $76,697,000 after purchasing an additional 10,701 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have weighed in on STLD shares. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Bank of America raised shares of Steel Dynamics from a "neutral" rating to a "buy" rating and boosted their price target for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. Morgan Stanley dropped their price objective on Steel Dynamics from $138.00 to $131.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 18th. UBS Group raised Steel Dynamics from a "neutral" rating to a "buy" rating and boosted their target price for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. Finally, BMO Capital Markets raised their price target on Steel Dynamics from $130.00 to $135.00 and gave the stock a "market perform" rating in a research note on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Steel Dynamics presently has an average rating of "Hold" and a consensus price target of $144.29.

Steel Dynamics Stock Performance

STLD traded down $1.39 on Friday, hitting $143.57. 1,714,195 shares of the company traded hands, compared to its average volume of 1,377,859. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56. The company has a 50 day moving average of $132.24 and a 200-day moving average of $127.44. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The stock has a market capitalization of $21.86 billion, a PE ratio of 12.99 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping 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 analysts' expectations of $4.18 billion. During the same quarter in the prior year, the business earned $3.47 earnings per share. The company's quarterly revenue was down 5.4% compared to the same quarter last year. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 10.1 earnings per share for the current year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a $0.46 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.28%. Steel Dynamics's dividend payout ratio is currently 16.65%.

Insiders Place Their Bets

In other news, VP Chad Bickford sold 2,000 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the transaction, the vice president now owns 17,100 shares in the company, valued at $2,306,106. This trade represents a 10.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Glenn Pushis sold 17,941 shares of the business's stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the sale, the senior vice president now directly owns 146,693 shares in the company, valued at approximately $19,523,371.37. This represents a 10.90 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,591 shares of company stock worth $3,885,938. 6.00% of the stock is owned by corporate insiders.

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.