Northwestern Mutual Wealth Management Co. Sells 119 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Northwestern Mutual Wealth Management Co. lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 8.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,296 shares of the basic materials company’s stock after selling 119 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in Steel Dynamics were worth $168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Creative Planning grew its position in shares of Steel Dynamics by 2.6% in the 2nd quarter. Creative Planning now owns 27,138 shares of the basic materials company’s stock worth $3,514,000 after buying an additional 684 shares during the last quarter. Aviso Wealth Management acquired a new stake in Steel Dynamics in the second quarter valued at approximately $340,000. Kathmere Capital Management LLC grew its holdings in Steel Dynamics by 24.3% in the second quarter. Kathmere Capital Management LLC now owns 2,079 shares of the basic materials company’s stock worth $269,000 after purchasing an additional 406 shares during the last quarter. Dorsey Wright & Associates increased its position in shares of Steel Dynamics by 0.4% during the second quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock worth $3,050,000 after purchasing an additional 96 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Steel Dynamics by 0.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 93,763 shares of the basic materials company’s stock valued at $12,142,000 after purchasing an additional 470 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. BMO Capital Markets boosted their target price on shares of Steel Dynamics from $127.00 to $130.00 and gave the stock a “market perform” rating in a research report on Thursday. JPMorgan Chase & Co. decreased their price target on shares of Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Morgan Stanley dropped their price objective on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $142.86.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $128.46 on Friday. The company has a 50 day simple moving average of $119.46 and a two-hundred day simple moving average of $128.15. The stock has a market cap of $19.82 billion, a price-to-earnings ratio of 8.82 and a beta of 1.31. The company has a current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25. Steel Dynamics, Inc. has a 12 month low of $98.25 and a 12 month high of $151.34.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, beating the consensus estimate of $2.67 by $0.05. The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The firm’s revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the company earned $4.81 earnings per share. As a group, analysts predict that Steel Dynamics, Inc. will post 10.36 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.43%. Steel Dynamics’s payout ratio is 12.64%.

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.