Apollon Wealth Management LLC Sells 945 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Apollon Wealth Management LLC lessened its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 16.2% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,891 shares of the basic materials company’s stock after selling 945 shares during the quarter. Apollon Wealth Management LLC’s holdings in Steel Dynamics were worth $617,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted 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 buying an additional 152,254 shares in the last quarter. Pacer Advisors Inc. boosted 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 acquiring an additional 140,042 shares during the period. Thrivent Financial for Lutherans grew 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 purchasing an additional 22,390 shares in the last quarter. LSV Asset Management lifted its holdings in Steel Dynamics by 3.9% during the 2nd quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company’s stock worth $182,604,000 after purchasing an additional 53,532 shares in the last quarter. Finally, AustralianSuper Pty Ltd boosted its stake in Steel Dynamics by 1.8% in the 2nd quarter. AustralianSuper Pty Ltd now owns 592,255 shares of the basic materials company’s stock worth $76,697,000 after purchasing an additional 10,701 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Transactions at Steel Dynamics

In related news, VP Chad Bickford sold 2,000 shares of Steel Dynamics stock in a transaction on Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the transaction, the vice president now owns 17,100 shares in the company, valued at $2,306,106. This trade represents a 10.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Glenn Pushis sold 17,941 shares of the company’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 sale, the senior vice president now 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 ninety days, insiders sold 26,591 shares of company stock worth $3,608,438. 6.00% of the stock is currently owned by insiders.

Steel Dynamics Stock Up 1.2 %

Shares of NASDAQ:STLD opened at $139.41 on Friday. The firm has a market capitalization of $21.22 billion, a PE ratio of 12.62 and a beta of 1.31. 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 52-week low of $104.60 and a 52-week high of $155.56. The firm has a fifty day moving average of $128.98 and a 200 day moving average of $127.09.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.07. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.47 earnings per share. As a group, research analysts anticipate that Steel Dynamics, Inc. will post 10.1 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is presently 16.65%.

Analysts Set New Price Targets

STLD has been the topic of a number of recent analyst reports. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. BMO Capital Markets raised their price target 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. Morgan Stanley reduced 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 research report on Wednesday, September 18th. JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Four 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, Steel Dynamics currently has an average rating of “Hold” and an average target price of $144.29.

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.