AdvisorNet Financial Inc Decreases Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

AdvisorNet Financial Inc cut its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 12.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,308 shares of the basic materials company’s stock after selling 789 shares during the quarter. AdvisorNet Financial Inc’s holdings in Steel Dynamics were worth $605,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in STLD. Wilmington Savings Fund Society FSB bought a new stake in shares of Steel Dynamics during the 3rd quarter valued at $25,000. ORG Wealth Partners LLC purchased a new position in Steel Dynamics during the fourth quarter valued at approximately $28,000. Private Trust Co. NA lifted its stake in Steel Dynamics by 532.6% in the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 245 shares in the last quarter. Brooklyn Investment Group bought a new position in Steel Dynamics in the 3rd quarter valued at $61,000. Finally, Quest Partners LLC purchased a new position in shares of Steel Dynamics during the 3rd quarter valued at $62,000. Institutional investors own 82.41% of the company’s stock.

Analyst Ratings Changes

STLD has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Jefferies Financial Group dropped their price target on Steel Dynamics from $145.00 to $125.00 and set a “hold” rating for the company in a research report on Monday, January 6th. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a research report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 target price on the stock. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price target for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. Finally, UBS Group reiterated a “neutral” rating and issued a $149.00 price objective (up previously from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Six 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.com, Steel Dynamics has a consensus rating of “Hold” and a consensus price target of $141.13.

Steel Dynamics Trading Up 1.3 %

NASDAQ STLD opened at $125.18 on Thursday. The firm has a market capitalization of $19.06 billion, a PE ratio of 11.33 and a beta of 1.36. The stock’s 50 day moving average is $130.63 and its 200 day moving average is $126.50. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56. 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 (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.98 by $0.07. The business 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 for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.47 earnings per share. Research analysts forecast that Steel Dynamics, Inc. will post 10.09 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, January 10th. Investors of record on Tuesday, December 31st were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a yield of 1.47%. Steel Dynamics’s dividend payout ratio (DPR) is currently 16.65%.

Insider Buying and Selling

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 stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the sale, the vice president now directly owns 17,100 shares of the company’s stock, valued at approximately $2,306,106. The trade was a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Glenn Pushis sold 17,941 shares of the firm’s stock in a transaction on 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 transaction, the senior vice president now owns 146,693 shares of the company’s stock, valued at $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. Insiders have sold 28,591 shares of company stock valued at $3,885,938 over the last quarter. Corporate insiders own 6.10% of the company’s stock.

About Steel Dynamics

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.