Steel Dynamics, Inc. (NASDAQ:STLD) Position Trimmed by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. cut its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 23.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,588 shares of the basic materials company's stock after selling 6,662 shares during the period. Rockefeller Capital Management L.P.'s holdings in Steel Dynamics were worth $2,722,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. National Bank of Canada FI increased its holdings in shares of Steel Dynamics by 481.2% in the 2nd quarter. National Bank of Canada FI now owns 328,795 shares of the basic materials company's stock valued at $42,461,000 after acquiring an additional 272,226 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in shares of Steel Dynamics by 65.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company's stock worth $74,064,000 after purchasing an additional 225,832 shares during the period. Renaissance Technologies LLC acquired a new stake in shares of Steel Dynamics during the second quarter worth $24,670,000. Ninety One UK Ltd lifted its position in shares of Steel Dynamics by 148.2% in the 2nd quarter. Ninety One UK Ltd now owns 253,828 shares of the basic materials company's stock worth $32,871,000 after buying an additional 151,546 shares during the last quarter. Finally, Pacer Advisors Inc. boosted 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 buying an additional 140,042 shares during the period. 82.41% of the stock is currently owned by institutional investors.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of the business'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 sale, the vice president now owns 17,100 shares in the company, valued at approximately $2,306,106. The trade was a 10.47 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Glenn Pushis sold 17,941 shares of the firm'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 completion of the transaction, the senior vice president now owns 146,693 shares of the company's stock, valued at approximately $19,523,371.37. The trade was a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,591 shares of company stock valued at $3,885,938 in the last quarter. Insiders own 6.00% of the company's stock.

Steel Dynamics Price Performance

Shares of STLD stock traded down $1.80 during midday trading on Friday, reaching $136.90. 1,273,870 shares of the company were exchanged, compared to its average volume of 1,255,742. The company's 50 day moving average price is $136.76 and its two-hundred day moving average price is $128.04. The company has a market cap of $20.84 billion, a P/E ratio of 12.39 and a beta of 1.31. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its 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 firm had revenue of $4.34 billion for the quarter, compared to analysts' expectations of $4.18 billion. During the same quarter in the previous year, the company earned $3.47 earnings per share. The firm's quarterly revenue was down 5.4% compared to the same quarter last year. On average, sell-side analysts expect that Steel Dynamics, Inc. will post 10.1 earnings per share for the current year.

Steel Dynamics Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. Bank of America raised shares of Steel Dynamics from a "neutral" rating to a "buy" rating and raised their target price for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. BMO Capital Markets boosted their price objective on Steel Dynamics from $130.00 to $135.00 and gave the company a "market perform" rating in a research report on Friday, October 18th. JPMorgan Chase & Co. raised their target price on Steel Dynamics from $129.00 to $134.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Morgan Stanley dropped their price objective 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, The Goldman Sachs Group started coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They set a "neutral" rating and a $155.00 target price for the company. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Steel Dynamics currently has an average rating of "Hold" and an average target price of $145.63.

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.