Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by MML Investors Services LLC

MML Investors Services LLC reduced its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 41.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,628 shares of the basic materials company’s stock after selling 1,828 shares during the period. MML Investors Services LLC’s holdings in Steel Dynamics were worth $331,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of STLD. Innealta Capital LLC purchased a new stake in Steel Dynamics during the 2nd quarter worth about $33,000. Private Trust Co. NA raised its position in shares of Steel Dynamics by 532.6% during the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 245 shares in the last quarter. Cullen Frost Bankers Inc. lifted its stake in Steel Dynamics by 33.3% during the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 100 shares during the last quarter. HHM Wealth Advisors LLC acquired a new position in Steel Dynamics in the second quarter valued at approximately $52,000. Finally, Brooklyn Investment Group purchased a new position in Steel Dynamics in the third quarter valued at approximately $61,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Up 1.1 %

STLD opened at $117.06 on Wednesday. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56. The business has a 50 day moving average price of $135.44 and a two-hundred day moving average price of $127.32. 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 $17.82 billion, a PE ratio of 10.59 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last released its quarterly 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 business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter in the prior year, the business earned $3.47 earnings per share. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. As a group, research analysts anticipate that Steel Dynamics, Inc. will post 10.09 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently declared 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. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.57%. Steel Dynamics’s dividend payout ratio (DPR) is 16.65%.

Insider Buying and Selling

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the business’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 directly owns 146,693 shares in the company, valued at approximately $19,523,371.37. The trade was a 10.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard A. Poinsatte sold 2,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $138.75, for a total transaction of $277,500.00. Following the completion of the transaction, the senior vice president now owns 21,101 shares of the company’s stock, valued at $2,927,763.75. This represents a 8.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,591 shares of company stock valued at $3,885,938 over the last ninety days. Corporate insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on STLD. BMO Capital Markets upped their target price 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. Citigroup decreased their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. upped their target price on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group started coverage on Steel Dynamics in a research report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price target on the stock. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Steel Dynamics presently has a consensus rating of “Hold” and a consensus price target of $144.25.

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.