Steel Dynamics, Inc. (NASDAQ:STLD) Position Lowered by M&G Plc

M&G PLC trimmed its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 37.4% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 41,938 shares of the basic materials company's stock after selling 25,103 shares during the quarter. M&G PLC's holdings in Steel Dynamics were worth $5,284,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Atomi Financial Group Inc. boosted its stake in shares of Steel Dynamics by 3.1% during the first quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company's stock worth $395,000 after buying an additional 79 shares during the period. Csenge Advisory Group lifted its position in Steel Dynamics by 2.8% during the 2nd quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company's stock worth $381,000 after acquiring an additional 81 shares during the period. Dorsey Wright & Associates grew its stake in shares of Steel Dynamics by 0.4% in the 2nd quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company's stock valued at $3,050,000 after purchasing an additional 96 shares during the last quarter. Greenleaf Trust increased its holdings in shares of Steel Dynamics by 2.1% in the third quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company's stock valued at $583,000 after purchasing an additional 96 shares during the period. Finally, Stiles Financial Services Inc raised its stake in shares of Steel Dynamics by 0.5% during the second quarter. Stiles Financial Services Inc now owns 18,753 shares of the basic materials company's stock worth $2,429,000 after purchasing an additional 99 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company's stock.

Steel Dynamics Trading Up 0.4 %

Shares of Steel Dynamics stock traded up $0.60 during trading hours on Friday, reaching $148.55. The stock had a trading volume of 1,073,793 shares, compared to its average volume of 1,272,091. The firm has a market capitalization of $22.92 billion, a price-to-earnings ratio of 13.44 and a beta of 1.31. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $155.56. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The firm has a 50 day simple moving average of $126.13 and a two-hundred day simple moving average of $126.80.

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 net margin of 9.80% and a return on equity of 19.82%. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter last year, the firm posted $3.47 earnings per share. Steel Dynamics's revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Steel Dynamics, Inc. will post 10.22 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.24%. Steel Dynamics's dividend payout ratio (DPR) is presently 16.65%.

Insiders Place Their Bets

In other news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the sale, the senior vice president now owns 146,693 shares in the company, valued at approximately $19,523,371.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Chad Bickford sold 2,000 shares of the firm's stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $134.86, for a total transaction of $269,720.00. Following the completion of the sale, the vice president now directly owns 17,100 shares in the company, valued at $2,306,106. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 value of $2,387,767.69. Following the completion of the transaction, the senior vice president now owns 146,693 shares in the company, valued at approximately $19,523,371.37. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

Steel Dynamics Company 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.