Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Aviso Wealth Management

Aviso Wealth Management reduced its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 2.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 2,552 shares of the basic materials company’s stock after selling 75 shares during the quarter. Aviso Wealth Management’s holdings in Steel Dynamics were worth $322,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Quest Partners LLC acquired a new position in Steel Dynamics in the third quarter valued at $62,000. Gladius Capital Management LP acquired a new stake in Steel Dynamics during the third quarter worth about $95,000. Empirical Finance LLC increased its stake in Steel Dynamics by 2.6% during the third quarter. Empirical Finance LLC now owns 6,707 shares of the basic materials company’s stock worth $846,000 after acquiring an additional 167 shares during the last quarter. CIBC Asset Management Inc increased its stake in Steel Dynamics by 5.0% during the third quarter. CIBC Asset Management Inc now owns 23,239 shares of the basic materials company’s stock worth $2,930,000 after acquiring an additional 1,109 shares during the last quarter. Finally, ING Groep NV increased its stake in Steel Dynamics by 29.5% during the third quarter. ING Groep NV now owns 89,192 shares of the basic materials company’s stock worth $11,245,000 after acquiring an additional 20,316 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. JPMorgan Chase & Co. upped their price target on Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley dropped their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 18th. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. Finally, BMO Capital Markets increased their target price on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Steel Dynamics currently has an average rating of “Hold” and a consensus target price of $144.29.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Miguel Alvarez sold 6,650 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total transaction of $950,950.00. Following the transaction, the senior vice president now owns 116,949 shares of the company’s stock, valued at $16,723,707. This trade represents a 5.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Chad Bickford sold 2,000 shares of the firm’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 value of $269,720.00. Following the completion of the sale, the vice president now directly owns 17,100 shares in the company, valued at approximately $2,306,106. This trade represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,591 shares of company stock valued at $3,608,438 in the last quarter. Insiders own 6.00% of the company’s stock.

Steel Dynamics Price Performance

STLD stock opened at $139.41 on Monday. 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 1 year low of $104.60 and a 1 year high of $155.56. The firm has a market cap of $21.22 billion, a P/E ratio of 12.62 and a beta of 1.31. The stock has a 50-day simple moving average of $128.98 and a 200-day simple moving average of $127.08.

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 firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. Steel Dynamics’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.47 earnings per share. On average, equities analysts predict that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

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

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.