Steel Dynamics, Inc. $STLD Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC cut its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 1.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 72,924 shares of the basic materials company’s stock after selling 1,331 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in Steel Dynamics were worth $9,335,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of STLD. Harbour Capital Advisors LLC increased its position in shares of Steel Dynamics by 0.5% in the second quarter. Harbour Capital Advisors LLC now owns 14,828 shares of the basic materials company’s stock valued at $1,988,000 after buying an additional 80 shares in the last quarter. Hemington Wealth Management increased its position in shares of Steel Dynamics by 35.9% in the first quarter. Hemington Wealth Management now owns 318 shares of the basic materials company’s stock valued at $39,000 after buying an additional 84 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Steel Dynamics by 1.6% in the first quarter. Sequoia Financial Advisors LLC now owns 5,803 shares of the basic materials company’s stock valued at $726,000 after buying an additional 91 shares in the last quarter. Sunbelt Securities Inc. increased its position in shares of Steel Dynamics by 25.0% in the first quarter. Sunbelt Securities Inc. now owns 500 shares of the basic materials company’s stock valued at $63,000 after buying an additional 100 shares in the last quarter. Finally, Blair William & Co. IL increased its position in shares of Steel Dynamics by 5.8% in the second quarter. Blair William & Co. IL now owns 1,813 shares of the basic materials company’s stock valued at $232,000 after buying an additional 100 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Up 0.1%

Shares of STLD opened at $142.75 on Monday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.13. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $155.56. The stock has a market capitalization of $21.01 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 1.17 and a beta of 1.40. The stock has a 50 day moving average price of $135.49 and a 200 day moving average price of $130.69.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Monday, July 21st. The basic materials company reported $2.01 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.04). Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%.The firm had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the previous year, the firm posted $2.72 earnings per share. The firm’s revenue for the quarter was down 1.5% compared to the same quarter last year. Equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date was Tuesday, September 30th. Steel Dynamics’s payout ratio is presently 29.15%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on STLD shares. Wells Fargo & Company boosted their price objective on Steel Dynamics from $143.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. JPMorgan Chase & Co. boosted their price objective on Steel Dynamics from $150.00 to $160.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Steel Dynamics in a research report on Wednesday, October 8th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $149.89.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the company’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total value of $1,520,520.00. Following the completion of the sale, the senior vice president directly owned 66,738 shares in the company, valued at $8,456,371.98. This represents a 15.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 6.30% of the stock is currently owned by insiders.

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.