Orion Portfolio Solutions LLC Sells 5,400 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Orion Portfolio Solutions LLC lowered its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 54.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 4,500 shares of the basic materials company’s stock after selling 5,400 shares during the period. Orion Portfolio Solutions LLC’s holdings in Steel Dynamics were worth $567,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC raised its stake in shares of Steel Dynamics by 9,465.5% in the third quarter. Larson Financial Group LLC now owns 18,844 shares of the basic materials company’s stock worth $2,376,000 after purchasing an additional 18,647 shares during the last quarter. Envestnet Asset Management Inc. raised its stake in shares of Steel Dynamics by 9.4% in the second quarter. Envestnet Asset Management Inc. now owns 230,922 shares of the basic materials company’s stock worth $29,904,000 after purchasing an additional 19,853 shares during the last quarter. IFM Investors Pty Ltd raised its stake in shares of Steel Dynamics by 21.5% in the third quarter. IFM Investors Pty Ltd now owns 38,355 shares of the basic materials company’s stock worth $4,836,000 after purchasing an additional 6,779 shares during the last quarter. iA Global Asset Management Inc. raised its stake in shares of Steel Dynamics by 48.0% in the third quarter. iA Global Asset Management Inc. now owns 13,262 shares of the basic materials company’s stock worth $1,672,000 after purchasing an additional 4,302 shares during the last quarter. Finally, National Bank of Canada FI increased its position in shares of Steel Dynamics by 481.2% during the second quarter. National Bank of Canada FI now owns 328,795 shares of the basic materials company’s stock valued at $42,461,000 after acquiring an additional 272,226 shares during the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts recently commented on STLD shares. UBS Group reaffirmed a “neutral” rating and set a $149.00 price target (up from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. BMO Capital Markets increased their price target on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price target for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. The Goldman Sachs Group started coverage on Steel Dynamics in a research report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price target for the company. Finally, JPMorgan Chase & Co. increased their price target on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Six analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, Steel Dynamics currently has a consensus rating of “Hold” and an average target price of $146.13.

Insider Transactions at Steel Dynamics

In other news, SVP Richard A. Poinsatte sold 2,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the completion of the transaction, the senior vice president now directly owns 21,101 shares of the company’s stock, valued at $2,927,763.75. This trade represents a 8.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Miguel Alvarez sold 6,650 shares of the firm’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the transaction, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,591 shares of company stock valued at $3,885,938 over the last three months. Company insiders own 6.00% of the company’s stock.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $118.58 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. The business has a fifty day simple moving average of $136.78 and a two-hundred day simple moving average of $127.75. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $155.56. The company has a market capitalization of $18.05 billion, a P/E ratio of 10.73 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same period last year, the business posted $3.47 earnings per share. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, analysts expect that Steel Dynamics, Inc. will post 10.09 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.55%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics’s payout ratio is currently 16.65%.

Steel Dynamics 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.