Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Natixis Advisors LLC

Natixis Advisors LLC cut its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 2.9% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,984 shares of the basic materials company’s stock after selling 1,085 shares during the period. Natixis Advisors LLC’s holdings in Steel Dynamics were worth $4,663,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Innealta Capital LLC bought a new stake in shares of Steel Dynamics during the 2nd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Steel Dynamics in the 2nd quarter valued at $41,000. Cullen Frost Bankers Inc. grew its stake in Steel Dynamics by 33.3% during the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock worth $52,000 after buying an additional 100 shares during the last quarter. HHM Wealth Advisors LLC bought a new stake in Steel Dynamics during the 2nd quarter worth approximately $52,000. Finally, Eagle Bay Advisors LLC bought a new stake in Steel Dynamics during the 3rd quarter worth approximately $64,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock opened at $143.57 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 twelve month low of $104.60 and a twelve month high of $155.56. The stock has a market cap of $21.86 billion, a price-to-earnings ratio of 12.99 and a beta of 1.31. The company’s fifty day moving average is $132.24 and its 200 day moving average is $127.50.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results 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 business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.47 earnings per share. Sell-side analysts forecast that Steel Dynamics, Inc. will post 10.1 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.28%. Steel Dynamics’s dividend payout ratio is currently 16.65%.

Insider Activity

In related news, 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 value of $2,387,767.69. Following the sale, the senior vice president now owns 146,693 shares in the company, valued at $19,523,371.37. This represents a 10.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Chad Bickford sold 2,000 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 17,100 shares in the company, valued at $2,306,106. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 28,591 shares of company stock worth $3,885,938. Company insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on STLD shares. Morgan Stanley decreased their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Finally, BMO Capital Markets raised their price objective on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Steel Dynamics currently has an average rating of “Hold” and a consensus 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.