Nations Financial Group Inc. IA ADV Cuts Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Nations Financial Group Inc. IA ADV trimmed its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 38.5% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,913 shares of the basic materials company's stock after selling 4,947 shares during the period. Nations Financial Group Inc. IA ADV's holdings in Steel Dynamics were worth $998,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Envestnet Portfolio Solutions Inc. raised its holdings in shares of Steel Dynamics by 5.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,938 shares of the basic materials company's stock worth $436,000 after buying an additional 153 shares during the period. Sei Investments Co. increased its holdings in Steel Dynamics by 6.1% during the 1st quarter. Sei Investments Co. now owns 108,112 shares of the basic materials company's stock worth $16,026,000 after purchasing an additional 6,263 shares during the period. Meeder Advisory Services Inc. purchased a new position in Steel Dynamics during the 1st quarter worth $257,000. Russell Investments Group Ltd. increased its holdings in Steel Dynamics by 11.2% during the 1st quarter. Russell Investments Group Ltd. now owns 264,378 shares of the basic materials company's stock worth $39,075,000 after purchasing an additional 26,538 shares during the period. Finally, Avantax Advisory Services Inc. increased its holdings in Steel Dynamics by 11.8% during the 1st quarter. Avantax Advisory Services Inc. now owns 3,466 shares of the basic materials company's stock worth $514,000 after purchasing an additional 365 shares during the period. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Stock Down 0.4 %

Shares of Steel Dynamics stock traded down $0.53 during trading on Wednesday, reaching $143.82. The company's stock had a trading volume of 279,870 shares, compared to its average volume of 1,263,454. 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 company has a market cap of $21.90 billion, a price-to-earnings ratio of 12.95 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 50-day simple moving average of $127.31 and a two-hundred day simple moving average of $126.90.

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 for the quarter, topping analysts' consensus estimates of $1.98 by $0.07. The firm 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 business's quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the firm earned $3.47 EPS. As a group, equities analysts forecast that Steel Dynamics, Inc. will post 10.18 earnings per share for the current year.

Steel Dynamics Announces Dividend

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

Insiders Place Their Bets

In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of Steel Dynamics 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 owns 17,100 shares of the company's stock, valued at approximately $2,306,106. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics 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 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 transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Chad Bickford sold 2,000 shares of Steel Dynamics 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 transaction, the vice president now owns 17,100 shares of the company's stock, valued at $2,306,106. The trade was 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 Analysts Forecast Growth

STLD has been the topic of several research reports. JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $129.00 to $134.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. Morgan Stanley reduced 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. BMO Capital Markets raised their price objective on Steel Dynamics from $130.00 to $135.00 and gave the stock a "market perform" rating in a report on Friday, October 18th. UBS Group raised Steel Dynamics from a "neutral" rating to a "buy" rating and increased their target price for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Finally, Bank of America raised Steel Dynamics from a "neutral" rating to a "buy" rating and increased their target price for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $144.29.

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.