Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Intech Investment Management LLC

Intech Investment Management LLC decreased its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 15.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,617 shares of the basic materials company's stock after selling 19,195 shares during the period. Intech Investment Management LLC owned 0.07% of Steel Dynamics worth $13,190,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of STLD. Citizens Financial Group Inc. RI acquired a new position in shares of Steel Dynamics during the third quarter worth $200,000. Darwin Wealth Management LLC bought a new position in Steel Dynamics in the 3rd quarter valued at about $126,000. Advisors Asset Management Inc. lifted its position in Steel Dynamics by 4.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 14,549 shares of the basic materials company's stock valued at $1,834,000 after acquiring an additional 661 shares in the last quarter. Commerce Bank increased its stake in Steel Dynamics by 1.2% in the 3rd quarter. Commerce Bank now owns 5,981 shares of the basic materials company's stock valued at $754,000 after buying an additional 73 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Steel Dynamics by 3.1% in the 3rd quarter. PNC Financial Services Group Inc. now owns 20,177 shares of the basic materials company's stock valued at $2,544,000 after buying an additional 604 shares during the last quarter. Institutional investors own 82.41% of the company's stock.

Insider Buying and Selling

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the firm's stock in a transaction on 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 sale, the senior vice president now owns 146,693 shares of the company's stock, valued at approximately $19,523,371.37. This trade represents a 10.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Chad Bickford sold 2,000 shares of Steel Dynamics stock in a transaction that occurred 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 sale, the vice president now directly owns 17,100 shares in the company, valued at $2,306,106. This trade represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,591 shares of company stock worth $3,885,938 over the last ninety days. 6.00% of the stock is owned by insiders.

Wall Street Analyst Weigh In

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

Steel Dynamics Stock Down 1.0 %

Steel Dynamics stock traded down $1.39 during mid-day trading on Friday, hitting $143.57. The company had a trading volume of 1,714,008 shares, compared to its average volume of 1,277,655. The company has a market capitalization of $21.86 billion, a PE ratio of 12.99 and a beta of 1.31. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The stock's 50 day moving average price is $132.24 and its two-hundred day moving average price is $127.50.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share 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 the consensus estimate of $4.18 billion. During the same period in the previous year, the business earned $3.47 EPS. The firm's revenue for the quarter was down 5.4% on a year-over-year basis. As a group, sell-side 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 announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics's dividend payout ratio (DPR) is currently 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.