Park Avenue Securities LLC Sells 855 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Park Avenue Securities LLC decreased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 18.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,674 shares of the basic materials company’s stock after selling 855 shares during the quarter. Park Avenue Securities LLC’s holdings in Steel Dynamics were worth $463,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in shares of Steel Dynamics by 4.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock valued at $534,295,000 after purchasing an additional 152,254 shares during the period. Pacer Advisors Inc. lifted its holdings in shares of Steel Dynamics by 7.0% in the second quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company’s stock worth $276,891,000 after buying an additional 140,042 shares in the last quarter. Thrivent Financial for Lutherans boosted its position in shares of Steel Dynamics by 1.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company’s stock valued at $228,999,000 after acquiring an additional 22,390 shares during the period. LSV Asset Management boosted its position in shares of Steel Dynamics by 3.9% in the second quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company’s stock valued at $182,604,000 after acquiring an additional 53,532 shares during the period. Finally, Acadian Asset Management LLC grew its stake in Steel Dynamics by 21.6% during the first quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock valued at $168,550,000 after acquiring an additional 202,312 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Up 1.1 %

STLD opened at $129.86 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25. The business’s fifty day simple moving average is $119.64 and its 200 day simple moving average is $128.05. Steel Dynamics, Inc. has a 52 week low of $98.25 and a 52 week high of $151.34. The stock has a market cap of $20.41 billion, a PE ratio of 8.92 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data 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 firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The company’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 EPS. As a group, research analysts expect that Steel Dynamics, Inc. will post 10.15 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a dividend of $0.46 per share. The ex-dividend date was Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.42%. Steel Dynamics’s dividend payout ratio (DPR) is currently 12.64%.

Wall Street Analyst Weigh In

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

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.