Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by E. Ohman J or Asset Management AB

E. Ohman J or Asset Management AB lowered its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 15.4% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,500 shares of the basic materials company’s stock after selling 1,000 shares during the period. E. Ohman J or Asset Management AB’s holdings in Steel Dynamics were worth $693,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Atomi Financial Group Inc. grew its holdings in shares of Steel Dynamics by 3.1% in the first quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company’s stock valued at $395,000 after purchasing an additional 79 shares in the last quarter. Csenge Advisory Group grew its holdings in shares of Steel Dynamics by 2.8% in the second quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock valued at $381,000 after purchasing an additional 81 shares in the last quarter. Dorsey Wright & Associates grew its holdings in shares of Steel Dynamics by 0.4% in the second quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock valued at $3,050,000 after purchasing an additional 96 shares in the last quarter. Greenleaf Trust grew its holdings in Steel Dynamics by 2.1% during the 3rd quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock worth $583,000 after acquiring an additional 96 shares in the last quarter. Finally, Stiles Financial Services Inc grew its holdings in Steel Dynamics by 0.5% during the 2nd quarter. Stiles Financial Services Inc now owns 18,753 shares of the basic materials company’s stock worth $2,429,000 after acquiring an additional 99 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Activity at Steel Dynamics

In related news, SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the sale, the senior vice president now owns 146,693 shares in the company, valued at $19,523,371.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Morgan Stanley lowered their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. BMO Capital Markets boosted their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. Four investment 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, Steel Dynamics presently has an average rating of “Hold” and a consensus price target of $144.29.

Steel Dynamics Stock Down 0.6 %

Shares of NASDAQ:STLD opened at $129.58 on Friday. The company has a market capitalization of $19.99 billion, a PE ratio of 11.73 and a beta of 1.31. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a twelve month low of $100.20 and a twelve month high of $151.34. The firm has a 50 day simple moving average of $122.20 and a 200-day simple moving average of $126.79.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.07. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.47 EPS. On average, equities analysts predict that Steel Dynamics, Inc. will post 10.22 EPS 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 given a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.84 annualized dividend and a dividend yield of 1.42%. Steel Dynamics’s dividend payout ratio is presently 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.