Crossmark Global Holdings Inc. Sells 261 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Crossmark Global Holdings Inc. cut its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 3.1% in the third quarter, HoldingsChannel.com reports. The firm owned 8,119 shares of the basic materials company’s stock after selling 261 shares during the period. Crossmark Global Holdings Inc.’s holdings in Steel Dynamics were worth $1,023,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Trustmark National Bank Trust Department raised its holdings in Steel Dynamics by 126.6% in the first quarter. Trustmark National Bank Trust Department now owns 7,134 shares of the basic materials company’s stock worth $1,057,000 after purchasing an additional 3,986 shares in the last quarter. Bessemer Group Inc. increased its holdings in shares of Steel Dynamics by 2,679.3% during the first quarter. Bessemer Group Inc. now owns 10,867 shares of the basic materials company’s stock valued at $1,611,000 after acquiring an additional 10,476 shares in the last quarter. LBP AM SA increased its holdings in shares of Steel Dynamics by 26.5% during the first quarter. LBP AM SA now owns 21,966 shares of the basic materials company’s stock valued at $3,256,000 after acquiring an additional 4,599 shares in the last quarter. M&G Plc acquired a new position in shares of Steel Dynamics during the first quarter valued at about $9,478,000. Finally, UniSuper Management Pty Ltd increased its holdings in shares of Steel Dynamics by 372.0% during the first quarter. UniSuper Management Pty Ltd now owns 8,906 shares of the basic materials company’s stock valued at $1,320,000 after acquiring an additional 7,019 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $137.81 on Friday. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56. The business’s 50 day moving average price is $128.41 and its 200 day moving average price is $127.08. The firm has a market cap of $20.98 billion, a P/E ratio of 12.47 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping the consensus estimate 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 for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the prior year, the firm posted $3.47 EPS. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, sell-side analysts expect that Steel Dynamics, Inc. will post 10.18 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a $0.46 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 annualized dividend and a yield of 1.34%. Steel Dynamics’s dividend payout ratio is presently 16.65%.

Analyst Ratings Changes

Several research firms have recently issued reports on STLD. Morgan Stanley cut 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. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. BMO Capital Markets upped their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. upped their target price on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $144.29.

Insiders Place Their Bets

In other news, VP Chad Bickford sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was 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 directly owns 17,100 shares of the company’s stock, valued at $2,306,106. This represents a 10.47 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $133.09, for a total value 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 approximately $19,523,371.37. The trade was a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,591 shares of company stock worth $3,608,438. Corporate insiders own 6.00% of the company’s stock.

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.