Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC decreased its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 17.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,595 shares of the basic materials company’s stock after selling 10,710 shares during the period. Wedge Capital Management L L P NC’s holdings in Steel Dynamics were worth $5,771,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in Steel Dynamics in the third quarter valued at $25,000. ORG Wealth Partners LLC purchased a new stake in shares of Steel Dynamics in the 4th quarter valued at about $28,000. Private Trust Co. NA boosted its position in shares of Steel Dynamics by 532.6% in the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 245 shares during the period. Brooklyn Investment Group purchased a new position in Steel Dynamics during the 3rd quarter worth approximately $61,000. Finally, Quest Partners LLC acquired a new position in Steel Dynamics during the third quarter worth approximately $62,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction 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 completion of the transaction, the senior vice president now owns 116,949 shares of the company’s stock, valued at $16,723,707. The trade was a 5.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, SVP Glenn Pushis sold 17,941 shares of the 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 completion of the sale, the senior vice president now directly owns 146,693 shares in the company, 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. Over the last 90 days, insiders have sold 28,591 shares of company stock valued at $3,885,938. Corporate insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on STLD. BMO Capital Markets raised their target price 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. Jefferies Financial Group dropped their price objective on shares of Steel Dynamics from $145.00 to $125.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They set a “neutral” rating and a $155.00 target price for the company. BNP Paribas upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. Finally, Citigroup decreased their price objective on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $140.88.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $125.83 on Friday. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $129.13 and its two-hundred day moving average is $126.45. The stock has a market capitalization of $19.16 billion, a price-to-earnings ratio of 11.39 and a beta of 1.36. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data 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 analysts’ expectations 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 was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.47 earnings per share. Research analysts expect that Steel Dynamics, Inc. will post 9.78 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.46%. The ex-dividend date of this dividend was Tuesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is 16.65%.

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.