Private Trust Co. NA Sells 92 Shares of Steel Dynamics, Inc. $STLD

Private Trust Co. NA decreased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 27.5% during the second quarter, Holdings Channel.com reports. The institutional investor owned 242 shares of the basic materials company’s stock after selling 92 shares during the quarter. Private Trust Co. NA’s holdings in Steel Dynamics were worth $31,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Financial Gravity Asset Management Inc. purchased a new stake in shares of Steel Dynamics during the 1st quarter worth $25,000. Cary Street Partners Investment Advisory LLC raised its stake in Steel Dynamics by 493.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock valued at $25,000 after buying an additional 163 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new stake in Steel Dynamics in the second quarter valued at about $30,000. Zions Bancorporation National Association UT purchased a new position in shares of Steel Dynamics in the first quarter worth about $32,000. Finally, WPG Advisers LLC purchased a new position in shares of Steel Dynamics in the first quarter worth about $32,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Up 1.5%

Steel Dynamics stock opened at $152.95 on Friday. The firm has a market cap of $22.52 billion, a price-to-earnings ratio of 20.26, a price-to-earnings-growth ratio of 1.26 and a beta of 1.40. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $156.24. The business’s 50-day moving average price is $137.91 and its 200 day moving average price is $131.80. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Monday, October 20th. The basic materials company reported $2.74 EPS for the quarter, topping the consensus estimate 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%.Steel Dynamics’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the company earned $2.05 earnings per share. As a group, sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 26.49%.

Insider Buying and Selling

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the firm’s 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 approximately $8,456,371.98. This trade represents a 15.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Weiss Ratings restated a “hold (c)” rating on shares of Steel Dynamics in a research note on Wednesday, October 8th. JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $150.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday, October 13th. BMO Capital Markets raised their price objective on Steel Dynamics from $155.00 to $167.00 and gave the stock an “outperform” rating in a research note on Wednesday. Jefferies Financial Group raised their price objective on Steel Dynamics from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday. Finally, UBS Group set a $158.00 target price on Steel Dynamics and gave the stock a “buy” rating in a report on Tuesday. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $162.44.

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.