Steel Dynamics, Inc. $STLD Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans decreased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 8.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,290,988 shares of the basic materials company’s stock after selling 112,582 shares during the quarter. Thrivent Financial for Lutherans owned 0.88% of Steel Dynamics worth $180,003,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in Steel Dynamics by 13.2% during the third quarter. Versant Capital Management Inc now owns 548 shares of the basic materials company’s stock worth $76,000 after buying an additional 64 shares in the last quarter. Bartlett & CO. Wealth Management LLC raised its position in shares of Steel Dynamics by 24.8% in the third quarter. Bartlett & CO. Wealth Management LLC now owns 377 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 75 shares during the period. Wright Investors Service Inc. raised its position in shares of Steel Dynamics by 1.5% in the third quarter. Wright Investors Service Inc. now owns 5,491 shares of the basic materials company’s stock worth $766,000 after acquiring an additional 82 shares during the period. Covestor Ltd boosted its stake in shares of Steel Dynamics by 44.3% during the 3rd quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 93 shares in the last quarter. Finally, Security Financial Services INC. grew its position in shares of Steel Dynamics by 2.1% during the 3rd quarter. Security Financial Services INC. now owns 4,675 shares of the basic materials company’s stock valued at $652,000 after acquiring an additional 94 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Stock Down 1.3%

NASDAQ STLD opened at $179.57 on Friday. The business has a fifty day moving average price of $171.89 and a 200 day moving average price of $150.54. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.47 and a current ratio of 3.06. The company has a market cap of $26.22 billion, a P/E ratio of 22.42, a P/E/G ratio of 0.76 and a beta of 1.48. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $185.56.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Monday, January 26th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.72 by $0.10. The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.62 billion. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.36 earnings per share. Research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st were issued a $0.50 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 1.1%. Steel Dynamics’s dividend payout ratio is presently 24.97%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on STLD. Citigroup upped their price target on Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. KeyCorp reaffirmed an “overweight” rating and set a $190.00 target price on shares of Steel Dynamics in a research note on Wednesday, January 7th. Morgan Stanley reiterated an “equal weight” rating and set a $194.00 target price (up previously from $173.00) on shares of Steel Dynamics in a research report on Friday, January 9th. Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday, December 29th. Finally, BMO Capital Markets increased their price objective on shares of Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Five research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Steel Dynamics currently has an average rating of “Hold” and an average target price of $182.00.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.