Mutual of America Capital Management LLC Sells 958 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Mutual of America Capital Management LLC lowered its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 5.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 17,670 shares of the basic materials company’s stock after selling 958 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Steel Dynamics were worth $2,228,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. National Bank of Canada FI grew its stake in shares of Steel Dynamics by 481.2% during 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 purchasing an additional 272,226 shares during the period. Skandinaviska Enskilda Banken AB publ grew its holdings in Steel Dynamics by 65.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company’s stock valued at $74,064,000 after purchasing an additional 225,832 shares during the last quarter. Swedbank AB bought a new stake in shares of Steel Dynamics during the 1st quarter worth approximately $32,178,000. Renaissance Technologies LLC bought a new position in Steel Dynamics in the 2nd quarter worth about $24,670,000. Finally, Ninety One UK Ltd grew its holdings in Steel Dynamics by 148.2% during the 2nd quarter. Ninety One UK Ltd now owns 253,828 shares of the basic materials company’s stock worth $32,871,000 after acquiring an additional 151,546 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Steel Dynamics

In related news, SVP Richard A. Poinsatte sold 2,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the completion of the transaction, the senior vice president now directly owns 21,101 shares in the company, valued at $2,927,763.75. The trade was a 8.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Glenn Pushis sold 17,941 shares of the firm’s stock in a transaction on 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 sale, the senior vice president now owns 146,693 shares in the company, valued at approximately $19,523,371.37. This represents a 10.90 % 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 quarter. 6.00% of the stock is currently owned by insiders.

Steel Dynamics Trading Down 1.0 %

Shares of NASDAQ:STLD opened at $143.57 on Monday. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56. The stock has a market cap of $21.86 billion, a price-to-earnings ratio of 12.99 and a beta of 1.31. The business has a 50-day moving average price of $132.24 and a 200-day moving average price of $127.44.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 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 analysts’ expectations of $4.18 billion. During the same period in the previous year, the business posted $3.47 EPS. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. Equities analysts predict that Steel Dynamics, Inc. will post 10.1 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a $0.46 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.28%. Steel Dynamics’s dividend payout ratio (DPR) is presently 16.65%.

Analysts Set New Price Targets

Several research firms have commented on STLD. BMO Capital Markets increased their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Morgan Stanley reduced their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average 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.