US Bancorp DE Lowers Position in Steel Dynamics, Inc. (NASDAQ:STLD)

US Bancorp DE reduced its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 3.3% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 19,750 shares of the basic materials company’s stock after selling 672 shares during the period. US Bancorp DE’s holdings in Steel Dynamics were worth $2,490,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Norden Group LLC purchased a new position in Steel Dynamics in the first quarter worth $723,000. Janney Montgomery Scott LLC increased its holdings in shares of Steel Dynamics by 9.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 20,779 shares of the basic materials company’s stock valued at $3,080,000 after purchasing an additional 1,845 shares in the last quarter. Mutual of America Capital Management LLC lifted its stake in shares of Steel Dynamics by 1.6% in the first quarter. Mutual of America Capital Management LLC now owns 35,957 shares of the basic materials company’s stock valued at $5,330,000 after purchasing an additional 581 shares during the period. Larson Financial Group LLC purchased a new stake in Steel Dynamics during the first quarter worth about $25,000. Finally, Csenge Advisory Group grew its position in Steel Dynamics by 9.0% during the first quarter. Csenge Advisory Group now owns 2,858 shares of the basic materials company’s stock worth $424,000 after buying an additional 235 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of Steel Dynamics stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the transaction, the vice president now directly owns 17,100 shares in the company, valued at $2,306,106. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Chad Bickford sold 2,000 shares of the business’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $134.86, for a total transaction of $269,720.00. Following the completion of the transaction, the vice president now owns 17,100 shares of the company’s stock, valued at approximately $2,306,106. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Glenn Pushis sold 17,941 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the transaction, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at $19,523,371.37. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

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

Steel Dynamics Stock Up 1.5 %

Shares of NASDAQ STLD opened at $135.65 on Wednesday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $151.34. The stock’s 50-day simple moving average is $123.96 and its 200-day simple moving average is $126.39. The firm has a market cap of $20.93 billion, a price-to-earnings ratio of 12.15 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. The firm had revenue of $4.34 billion for 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 firm’s revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.47 EPS. As a group, equities analysts anticipate that Steel Dynamics, Inc. will post 10.22 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.36%. The ex-dividend date of this dividend was Monday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 16.65%.

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.