Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by AustralianSuper Pty Ltd

AustralianSuper Pty Ltd cut its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 1.8% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 581,554 shares of the basic materials company's stock after selling 10,701 shares during the quarter. AustralianSuper Pty Ltd owned 0.38% of Steel Dynamics worth $73,322,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in STLD. Denali Advisors LLC increased its position in shares of Steel Dynamics by 26.4% in the first quarter. Denali Advisors LLC now owns 513 shares of the basic materials company's stock valued at $76,000 after buying an additional 107 shares in the last quarter. Norden Group LLC purchased a new stake in shares of Steel Dynamics in the first quarter valued at approximately $723,000. First Trust Direct Indexing L.P. increased its position in shares of Steel Dynamics by 64.4% in the first quarter. First Trust Direct Indexing L.P. now owns 5,906 shares of the basic materials company's stock valued at $875,000 after buying an additional 2,313 shares in the last quarter. HB Wealth Management LLC increased its position in shares of Steel Dynamics by 6.8% during the first quarter. HB Wealth Management LLC now owns 3,165 shares of the basic materials company's stock worth $469,000 after purchasing an additional 202 shares in the last quarter. Finally, Cutter & CO Brokerage Inc. acquired a new position in Steel Dynamics in the 1st quarter valued at $207,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Steel Dynamics

In other news, VP Chad Bickford sold 2,000 shares of the stock in a transaction on 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 transaction, the vice president now directly owns 17,100 shares in the company, valued at approximately $2,306,106. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related 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 transaction, 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 position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Glenn Pushis sold 17,941 shares of the firm'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 transaction, the senior vice president now owns 146,693 shares of the company's stock, valued at $19,523,371.37. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.00% of the company's stock.

Wall Street Analyst Weigh In

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

Steel Dynamics Trading Down 1.7 %

NASDAQ:STLD traded down $2.27 during trading hours on Thursday, hitting $130.50. The company had a trading volume of 1,007,031 shares, compared to its average volume of 1,259,819. 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 company has a 50-day moving average of $123.25 and a 200 day moving average of $126.61. The company has a market cap of $20.14 billion, a P/E ratio of 11.81 and a beta of 1.31. Steel Dynamics, Inc. has a 1 year low of $104.08 and a 1 year high of $151.34.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its earnings results 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. The company had revenue of $4.34 billion during the quarter, compared to analysts' expectations of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm's quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.47 EPS. Sell-side analysts expect that Steel Dynamics, Inc. will post 10.22 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Monday, September 30th. Steel Dynamics's dividend payout ratio is presently 16.65%.

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.