Janney Montgomery Scott LLC Lowers Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Janney Montgomery Scott LLC cut its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLDGet Rating) by 30.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 21,728 shares of the basic materials company’s stock after selling 9,540 shares during the period. Janney Montgomery Scott LLC’s holdings in Steel Dynamics were worth $1,541,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Ronald Blue Trust Inc. grew its stake in shares of Steel Dynamics by 39.4% during the 3rd quarter. Ronald Blue Trust Inc. now owns 2,159 shares of the basic materials company’s stock valued at $142,000 after buying an additional 610 shares during the period. Unison Advisors LLC boosted its position in Steel Dynamics by 32.2% during the 3rd quarter. Unison Advisors LLC now owns 11,733 shares of the basic materials company’s stock worth $837,000 after purchasing an additional 2,856 shares during the period. Echo Street Capital Management LLC boosted its position in Steel Dynamics by 121.9% during the 2nd quarter. Echo Street Capital Management LLC now owns 8,816 shares of the basic materials company’s stock worth $583,000 after purchasing an additional 4,843 shares during the period. Crossmark Global Holdings Inc. boosted its position in Steel Dynamics by 36.5% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 25,010 shares of the basic materials company’s stock worth $1,654,000 after purchasing an additional 6,690 shares during the period. Finally, Wahed Invest LLC purchased a new stake in Steel Dynamics during the 2nd quarter worth $126,000. 79.54% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, Director James C. Marcuccilli sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 2nd. The stock was sold at an average price of $108.90, for a total value of $272,250.00. Following the completion of the sale, the director now directly owns 82,965 shares in the company, valued at approximately $9,034,888.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Keith E. Busse sold 22,103 shares of the business’s stock in a transaction that occurred on Monday, October 24th. The stock was sold at an average price of $96.33, for a total value of $2,129,181.99. Following the completion of the sale, the director now directly owns 701,948 shares in the company, valued at approximately $67,618,650.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director James C. Marcuccilli sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, December 2nd. The shares were sold at an average price of $108.90, for a total value of $272,250.00. Following the completion of the sale, the director now owns 82,965 shares of the company’s stock, valued at $9,034,888.50. The disclosure for this sale can be found here. Company insiders own 5.40% of the company’s stock.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $111.52 on Monday. Steel Dynamics, Inc. has a 12 month low of $50.54 and a 12 month high of $113.12. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.67 and a quick ratio of 2.08. The firm has a market capitalization of $19.58 billion, a P/E ratio of 4.92 and a beta of 1.46. The company’s fifty day moving average price is $102.95 and its two-hundred day moving average price is $87.02.

Steel Dynamics (NASDAQ:STLDGet Rating) last posted its quarterly earnings results on Wednesday, October 19th. The basic materials company reported $5.46 EPS for the quarter, topping analysts’ consensus estimates of $4.97 by $0.49. Steel Dynamics had a return on equity of 65.26% and a net margin of 18.99%. The business had revenue of $5.65 billion during the quarter, compared to the consensus estimate of $5.48 billion. On average, research analysts anticipate that Steel Dynamics, Inc. will post 21.97 earnings per share for the current fiscal year.

Steel Dynamics announced that its Board of Directors has authorized a share buyback plan on Thursday, November 10th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the basic materials company to purchase up to 8.8% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s management believes its shares are undervalued.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 13th. Stockholders of record on Saturday, December 31st were issued a $0.34 dividend. The ex-dividend date of this dividend was Friday, December 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.22%. Steel Dynamics’s dividend payout ratio (DPR) is 6.00%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. The Goldman Sachs Group upped their price target on shares of Steel Dynamics from $88.00 to $99.00 and gave the stock a “buy” rating in a research report on Friday, October 21st. UBS Group cut shares of Steel Dynamics from a “buy” rating to a “neutral” rating in a research report on Monday, December 5th. BMO Capital Markets upped their price target on shares of Steel Dynamics from $89.00 to $100.00 and gave the stock a “market perform” rating in a research report on Monday, November 14th. StockNews.com lowered shares of Steel Dynamics from a “buy” rating to a “hold” rating in a report on Thursday, November 24th. Finally, Morgan Stanley boosted their price objective on shares of Steel Dynamics from $78.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday, October 21st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $99.83.

Steel Dynamics Company Profile

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Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.

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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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