Steel Dynamics, Inc. $STLD Shares Sold by Freedom Investment Management Inc.

Freedom Investment Management Inc. trimmed its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 7.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,344 shares of the basic materials company’s stock after selling 424 shares during the period. Freedom Investment Management Inc.’s holdings in Steel Dynamics were worth $684,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Price T Rowe Associates Inc. MD grew its holdings in Steel Dynamics by 25.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company’s stock worth $883,854,000 after acquiring an additional 1,437,897 shares during the period. Nordea Investment Management AB grew its holdings in Steel Dynamics by 43.3% during the second quarter. Nordea Investment Management AB now owns 2,088,372 shares of the basic materials company’s stock worth $271,238,000 after acquiring an additional 630,935 shares during the period. Victory Capital Management Inc. grew its holdings in Steel Dynamics by 433.1% during the first quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company’s stock worth $227,211,000 after acquiring an additional 1,475,767 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Steel Dynamics by 40.6% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,675,973 shares of the basic materials company’s stock worth $214,541,000 after acquiring an additional 484,304 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Steel Dynamics by 3.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,599,076 shares of the basic materials company’s stock valued at $200,012,000 after purchasing an additional 52,218 shares during the period. 82.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Christopher A. Graham sold 12,000 shares of Steel Dynamics stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total value of $1,520,520.00. Following the sale, the senior vice president directly owned 66,738 shares of the company’s stock, valued at $8,456,371.98. The trade was a 15.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.30% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Wells Fargo & Company raised their price objective on Steel Dynamics from $150.00 to $169.00 and gave the company an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $150.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, October 13th. Morgan Stanley raised their price objective on Steel Dynamics from $145.00 to $173.00 and gave the company an “overweight” rating in a report on Friday. Weiss Ratings reissued a “hold (c)” rating on shares of Steel Dynamics in a report on Wednesday, October 8th. Finally, UBS Group set a $158.00 price objective on Steel Dynamics and gave the company a “buy” rating in a report on Tuesday. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $162.44.

Steel Dynamics Stock Performance

Shares of NASDAQ:STLD opened at $152.95 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.13 and a quick ratio of 1.34. The business’s 50 day moving average price is $137.91 and its 200-day moving average price is $131.80. The firm has a market capitalization of $22.52 billion, a PE ratio of 20.26, a P/E/G ratio of 1.26 and a beta of 1.40. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $156.24.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Monday, October 20th. The basic materials company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.11. The firm had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a return on equity of 12.93% and a net margin of 6.39%.The business’s revenue was up 11.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.05 earnings per share. As a group, equities research analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.3%. Steel Dynamics’s payout ratio is currently 26.49%.

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.