Thrivent Financial for Lutherans Trims Stock Holdings in Steel Dynamics, Inc. $STLD

Thrivent Financial for Lutherans cut its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 10.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,403,570 shares of the basic materials company’s stock after selling 156,417 shares during the period. Thrivent Financial for Lutherans’ holdings in Steel Dynamics were worth $179,671,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Harbour Capital Advisors LLC grew its position in Steel Dynamics by 0.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 14,828 shares of the basic materials company’s stock worth $1,988,000 after purchasing an additional 80 shares during the last quarter. Blair William & Co. IL raised its holdings in shares of Steel Dynamics by 5.8% in the second quarter. Blair William & Co. IL now owns 1,813 shares of the basic materials company’s stock valued at $232,000 after buying an additional 100 shares during the last quarter. Lifeworks Advisors LLC boosted its stake in shares of Steel Dynamics by 6.6% during the second quarter. Lifeworks Advisors LLC now owns 1,719 shares of the basic materials company’s stock worth $220,000 after buying an additional 106 shares during the period. Forum Financial Management LP grew its holdings in shares of Steel Dynamics by 2.5% during the second quarter. Forum Financial Management LP now owns 4,524 shares of the basic materials company’s stock worth $579,000 after buying an additional 109 shares during the last quarter. Finally, Bessemer Group Inc. grew its holdings in shares of Steel Dynamics by 10.4% during the second quarter. Bessemer Group Inc. now owns 1,258 shares of the basic materials company’s stock worth $161,000 after buying an additional 119 shares during the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STLD has been the topic of several recent research reports. BMO Capital Markets boosted their price target on Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday, December 8th. JPMorgan Chase & Co. upped their price target on Steel Dynamics from $165.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. KeyCorp lifted their price objective on shares of Steel Dynamics from $152.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Finally, Jefferies Financial Group boosted their price objective on shares of Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.89.

Steel Dynamics Stock Down 0.6%

Steel Dynamics stock opened at $171.97 on Friday. The stock’s 50 day moving average price is $156.48 and its 200 day moving average price is $140.22. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $174.31. The company has a market cap of $25.11 billion, a PE ratio of 22.78, a price-to-earnings-growth ratio of 1.25 and a beta of 1.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.11 and a quick ratio of 1.47.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.11. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.Steel Dynamics’s revenue was up 11.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.05 earnings per share. On average, sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. Steel Dynamics’s payout ratio is currently 26.49%.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of the stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total value of $1,343,180.29. Following the completion of the transaction, the senior vice president directly owned 117,068 shares of the company’s stock, valued at approximately $19,057,499.72. This trade represents a 6.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 6.30% of the company’s stock.

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.