Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 5.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 17,670 shares of the basic materials company’s stock after selling 958 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Steel Dynamics were worth $2,228,000 at the end of the most recent quarter.

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

Analysts Set New Price Targets

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

Steel Dynamics Stock Performance

Shares of STLD opened at $143.57 on Monday. The company’s 50 day simple moving average is $132.24 and its 200-day simple moving average is $127.44. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56. The firm has a market cap of $21.86 billion, a PE ratio of 12.99 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 (NASDAQ:STLD) last announced its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, beating 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 company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.18 billion. During the same period last year, the business posted $3.47 EPS. The company’s revenue was down 5.4% on a year-over-year basis. As a group, equities analysts predict that Steel Dynamics, Inc. will post 10.1 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is presently 16.65%.

Insider Activity

In other Steel Dynamics 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 sale, the vice president now directly owns 17,100 shares in the company, valued at approximately $2,306,106. The trade was a 10.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction on Monday, October 21st. The stock was 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 in the company, valued at approximately $19,523,371.37. This trade represents a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,591 shares of company stock valued at $3,885,938 over the last quarter. Corporate insiders own 6.00% of the company’s stock.

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.