Thrivent Financial for Lutherans Sells 294,823 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Thrivent Financial for Lutherans decreased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 16.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,473,510 shares of the basic materials company's stock after selling 294,823 shares during the quarter. Thrivent Financial for Lutherans owned about 0.95% of Steel Dynamics worth $185,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Envestnet Portfolio Solutions Inc. increased 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 purchasing an additional 153 shares during the period. Avantax Advisory Services Inc. increased its holdings in shares of Steel Dynamics by 11.8% in the first 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. Orion Portfolio Solutions LLC increased its holdings in shares of Steel Dynamics by 7.4% in the first quarter. Orion Portfolio Solutions LLC now owns 9,039 shares of the basic materials company's stock worth $1,340,000 after purchasing an additional 623 shares during the period. Cynosure Group LLC bought a new position in shares of Steel Dynamics in the first quarter worth $347,000. Finally, Trustmark National Bank Trust Department increased its holdings in shares of Steel Dynamics by 126.6% in the first quarter. Trustmark National Bank Trust Department now owns 7,134 shares of the basic materials company's stock worth $1,057,000 after purchasing an additional 3,986 shares during the period. Institutional investors own 82.41% of the company's stock.

Analysts Set New Price Targets

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

Steel Dynamics Trading Up 1.2 %

NASDAQ STLD traded up $1.60 during trading on Friday, hitting $139.41. 1,297,847 shares of the company's stock traded hands, compared to its average volume of 1,299,798. The stock has a fifty day moving average of $128.98 and a two-hundred day moving average of $127.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56. The firm has a market cap of $21.22 billion, a P/E ratio of 12.62 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly 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. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same period in the prior year, the business posted $3.47 earnings per share. The company's revenue was down 5.4% on a year-over-year basis. As a group, sell-side analysts expect that Steel Dynamics, Inc. will post 10.1 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm 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 is Tuesday, December 31st. This represents a $1.84 annualized dividend and a yield of 1.32%. Steel Dynamics's payout ratio is 16.65%.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Glenn Pushis sold 17,941 shares of the company's stock in a transaction dated Monday, October 21st. The shares were 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 directly owns 146,693 shares of the company's stock, valued at approximately $19,523,371.37. This represents a 10.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Miguel Alvarez sold 6,650 shares of the company's stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the transaction, the senior vice president now directly owns 116,949 shares of the company's stock, valued at approximately $16,723,707. This trade represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 26,591 shares of company stock worth $3,608,438 over the last three months. Company insiders own 6.00% of the company's stock.

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.