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

Leavell Investment Management Inc. lessened its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 23.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 26,016 shares of the basic materials company’s stock after selling 8,000 shares during the period. Leavell Investment Management Inc.’s holdings in Steel Dynamics were worth $3,640,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in STLD. Trust Co. of Toledo NA OH acquired a new position in Steel Dynamics in the 2nd quarter worth approximately $30,000. Rosenberg Matthew Hamilton lifted its position in Steel Dynamics by 306.2% during the second quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 199 shares during the period. True Wealth Design LLC boosted its holdings in Steel Dynamics by 120.4% in the second quarter. True Wealth Design LLC now owns 324 shares of the basic materials company’s stock valued at $41,000 after purchasing an additional 177 shares during the last quarter. Toth Financial Advisory Corp raised its stake in shares of Steel Dynamics by 50.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock valued at $42,000 after buying an additional 100 shares during the last quarter. Finally, CYBER HORNET ETFs LLC acquired a new position in shares of Steel Dynamics in the 2nd quarter valued at about $50,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on STLD. JPMorgan Chase & Co. lifted their target price on shares of Steel Dynamics from $165.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, December 5th. KeyCorp reissued an “overweight” rating and issued a $190.00 price objective on shares of Steel Dynamics in a report on Wednesday, January 7th. BMO Capital Markets lifted their target price on shares of Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. The Goldman Sachs Group set a $172.00 target price on Steel Dynamics and gave the company a “neutral” rating in a research report on Friday, October 31st. Finally, Jefferies Financial Group increased their target price on shares of Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Five 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, the stock presently has a consensus rating of “Hold” and a consensus target price of $182.00.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of Steel Dynamics stock in a transaction dated Wednesday, October 29th. The stock was 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 $19,057,499.72. The trade was a 6.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 6.30% of the stock is currently owned by insiders.

Steel Dynamics Stock Down 0.9%

STLD stock opened at $173.58 on Friday. The firm has a market cap of $25.35 billion, a PE ratio of 22.99, a PEG ratio of 0.72 and a beta of 1.48. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $178.36. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.47 and a current ratio of 3.11. The firm’s 50 day moving average price is $167.46 and its 200-day moving average price is $147.52.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, October 21st. The basic materials company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.11. The company had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.05 earnings per share. On average, equities research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 31st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.2%. The ex-dividend date was Wednesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is 26.49%.

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.