Everence Capital Management Inc. Takes $216,000 Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Everence Capital Management Inc. purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,890 shares of the basic materials company’s stock, valued at approximately $216,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. TD Asset Management Inc raised its stake in shares of Steel Dynamics by 0.6% during the second quarter. TD Asset Management Inc now owns 51,746 shares of the basic materials company’s stock worth $6,701,000 after purchasing an additional 310 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of Steel Dynamics by 4.7% in the 2nd quarter. Private Advisor Group LLC now owns 4,068 shares of the basic materials company’s stock worth $527,000 after acquiring an additional 184 shares during the period. Savant Capital LLC boosted its holdings in shares of Steel Dynamics by 5.7% in the second quarter. Savant Capital LLC now owns 4,621 shares of the basic materials company’s stock valued at $598,000 after acquiring an additional 249 shares in the last quarter. Cullen Frost Bankers Inc. increased its stake in shares of 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 acquiring an additional 100 shares during the period. Finally, Caprock Group LLC raised its holdings in Steel Dynamics by 158.8% during the second quarter. Caprock Group LLC now owns 6,683 shares of the basic materials company’s stock worth $869,000 after purchasing an additional 4,101 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction on 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 transaction, the senior vice president now owns 146,693 shares of the company’s stock, valued at $19,523,371.37. This represents a 10.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the sale, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. This represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,591 shares of company stock valued at $3,885,938. 6.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on STLD. Citigroup cut their target price on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. BMO Capital Markets raised their target price on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 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 research note on Friday, October 18th. UBS Group reiterated a “neutral” rating and issued a $149.00 price objective (up previously from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. Finally, Morgan Stanley lowered their target price on shares of 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. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $141.13.

Steel Dynamics Stock Down 2.8 %

Shares of NASDAQ STLD opened at $116.48 on Thursday. The firm’s 50-day moving average is $131.70 and its two-hundred day moving average is $126.66. The company has a market capitalization of $17.73 billion, a PE ratio of 10.54 and a beta of 1.36. 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 current ratio of 2.39 and a quick ratio of 1.26.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analyst estimates of $4.18 billion. During the same quarter in the prior year, the company earned $3.47 EPS. Steel Dynamics’s revenue was down 5.4% on a year-over-year basis. Equities analysts anticipate that Steel Dynamics, Inc. will post 10.09 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is presently 16.65%.

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.