Park Avenue Securities LLC Reduces Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Park Avenue Securities LLC cut its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 30.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,550 shares of the basic materials company’s stock after selling 1,124 shares during the quarter. Park Avenue Securities LLC’s holdings in Steel Dynamics were worth $291,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Steel Dynamics during the 3rd quarter worth about $25,000. ORG Wealth Partners LLC purchased a new stake in shares of Steel Dynamics during the fourth quarter worth approximately $28,000. Private Trust Co. NA raised its position in shares of Steel Dynamics by 532.6% in the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after buying an additional 245 shares during the last quarter. Brooklyn Investment Group purchased a new position in Steel Dynamics in the 3rd quarter worth approximately $61,000. Finally, Quest Partners LLC purchased a new position in Steel Dynamics during the third quarter worth approximately $62,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Down 0.0 %

Shares of STLD stock opened at $122.35 on Friday. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year 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. The firm’s 50-day simple moving average is $127.27 and its 200-day simple moving average is $126.38. The firm has a market cap of $18.63 billion, a P/E ratio of 12.48 and a beta of 1.36.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.25%. During the same quarter last year, the firm earned $2.61 EPS. As a group, equities analysts forecast that Steel Dynamics, Inc. will post 8.93 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Tuesday, December 31st. Steel Dynamics’s payout ratio is currently 18.78%.

Analyst Ratings Changes

Several brokerages have recently commented on STLD. JPMorgan Chase & Co. decreased their price target on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. BMO Capital Markets boosted their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. StockNews.com lowered shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Thursday. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. Finally, Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $125.00 to $145.00 in a research report on Friday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $143.38.

Insider Activity

In other Steel Dynamics news, SVP Miguel Alvarez sold 6,650 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The stock was 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 in the company, valued at $16,723,707. This represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Chad Bickford sold 2,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the transaction, the vice president now directly owns 17,100 shares of the company’s stock, valued at $2,306,106. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 10,650 shares of company stock worth $1,498,170. 6.00% of the stock is currently owned by corporate insiders.

Steel Dynamics Company 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.