Chevy Chase Trust Holdings LLC Has $9.70 Million Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Chevy Chase Trust Holdings LLC lessened its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 4.7% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 76,939 shares of the basic materials company's stock after selling 3,833 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Steel Dynamics worth $9,700,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new position in Steel Dynamics during the second quarter valued at approximately $33,000. Private Trust Co. NA raised its holdings in shares of Steel Dynamics by 532.6% during the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company's stock valued at $37,000 after purchasing an additional 245 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in shares of Steel Dynamics by 33.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company's stock valued at $52,000 after purchasing an additional 100 shares during the last quarter. HHM Wealth Advisors LLC bought a new stake in Steel Dynamics in the second quarter worth $52,000. Finally, Brooklyn Investment Group acquired a new position in Steel Dynamics during the third quarter worth $61,000. Hedge funds and other institutional investors own 82.41% of the company's stock.

Analyst Upgrades and Downgrades

STLD has been the subject of a number of analyst reports. BMO Capital Markets boosted their price target on Steel Dynamics from $130.00 to $135.00 and gave the stock a "market perform" rating in a research report on Friday, October 18th. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $129.00 to $134.00 and gave the company a "neutral" rating in a report on Friday, October 18th. The Goldman Sachs Group assumed coverage on shares of Steel Dynamics in a research note on Monday. They issued a "neutral" rating and a $155.00 price objective for the company. Morgan Stanley dropped their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 18th. Finally, UBS Group upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and upped their price target for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Steel Dynamics currently has a consensus rating of "Hold" and an average price target of $145.63.

Insider Activity

In other news, SVP Glenn Pushis sold 17,941 shares of the company's stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following the sale, the senior vice president now owns 146,693 shares of the company's stock, valued at approximately $19,523,371.37. This represents a 10.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard A. Poinsatte sold 2,000 shares of the stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $138.75, for a total transaction of $277,500.00. Following the sale, the senior vice president now owns 21,101 shares of the company's stock, valued at $2,927,763.75. This trade represents a 8.66 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,591 shares of company stock worth $3,885,938. 6.00% of the stock is currently owned by corporate insiders.

Steel Dynamics Stock Performance

Shares of STLD traded down $1.80 during trading hours on Friday, reaching $136.90. 1,273,869 shares of the company traded hands, compared to its average volume of 1,273,686. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. The stock's fifty day moving average is $136.54 and its 200 day moving average is $128.06. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56. The stock has a market cap of $20.84 billion, a P/E ratio of 12.48 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 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 firm 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 firm posted $3.47 EPS. The company's revenue for the quarter was down 5.4% on a year-over-year basis. Equities research analysts anticipate that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.34%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics's dividend payout ratio (DPR) is presently 16.65%.

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.