Private Advisor Group LLC Sells 311 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Private Advisor Group LLC lowered its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 7.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,757 shares of the basic materials company’s stock after selling 311 shares during the quarter. Private Advisor Group LLC’s holdings in Steel Dynamics were worth $474,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently made changes to their positions in STLD. Norden Group LLC acquired a new position in shares of Steel Dynamics in the first quarter valued at approximately $723,000. Janney Montgomery Scott LLC increased its stake in shares of Steel Dynamics by 9.7% in the first quarter. Janney Montgomery Scott LLC now owns 20,779 shares of the basic materials company’s stock valued at $3,080,000 after buying an additional 1,845 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its stake in shares of Steel Dynamics by 5.5% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,478 shares of the basic materials company’s stock valued at $664,000 after buying an additional 234 shares during the period. Graypoint LLC acquired a new position in shares of Steel Dynamics in the first quarter valued at approximately $202,000. Finally, Mutual of America Capital Management LLC increased its stake in shares of Steel Dynamics by 1.6% in the first quarter. Mutual of America Capital Management LLC now owns 35,957 shares of the basic materials company’s stock valued at $5,330,000 after buying an additional 581 shares during the period. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $133.58 on Tuesday. The company has a fifty day moving average of $123.74 and a 200-day moving average of $126.41. The firm has a market capitalization of $20.61 billion, a P/E ratio of 12.08 and a beta of 1.31. 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 twelve month low of $104.60 and a twelve month high of $151.34.

Steel Dynamics (NASDAQ:STLD) 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 the consensus estimate of $4.18 billion. During the same quarter last year, the firm posted $3.47 EPS. Steel Dynamics’s revenue was down 5.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Steel Dynamics, Inc. will post 10.22 EPS for the current year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.38%. The ex-dividend date of this dividend was Monday, September 30th. Steel Dynamics’s payout ratio is currently 16.65%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on STLD shares. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. Morgan Stanley lowered their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. JPMorgan Chase & Co. raised 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. Finally, BMO Capital Markets raised their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $144.29.

Insider Activity at Steel Dynamics

In related news, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction on Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the sale, the senior vice president now owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of Steel Dynamics stock in a transaction on Monday, October 28th. The shares were sold at an average price of $134.86, for a total transaction 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. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics 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 directly owns 146,693 shares in the company, valued at $19,523,371.37. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by insiders.

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.