Oak Thistle LLC Sells 13,958 Shares of Steel Dynamics, Inc. $STLD

Oak Thistle LLC lowered its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 83.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,850 shares of the basic materials company’s stock after selling 13,958 shares during the quarter. Oak Thistle LLC’s holdings in Steel Dynamics were worth $397,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Harbour Capital Advisors LLC raised its stake in Steel Dynamics by 0.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 14,828 shares of the basic materials company’s stock worth $1,988,000 after purchasing an additional 80 shares in the last quarter. Blair William & Co. IL grew its position in shares of Steel Dynamics by 5.8% during the 2nd quarter. Blair William & Co. IL now owns 1,813 shares of the basic materials company’s stock worth $232,000 after purchasing an additional 100 shares in the last quarter. Lifeworks Advisors LLC increased its holdings in shares of Steel Dynamics by 6.6% during the second quarter. Lifeworks Advisors LLC now owns 1,719 shares of the basic materials company’s stock worth $220,000 after purchasing an additional 106 shares during the period. Forum Financial Management LP raised its position in shares of Steel Dynamics by 2.5% in the second quarter. Forum Financial Management LP now owns 4,524 shares of the basic materials company’s stock valued at $579,000 after buying an additional 109 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Steel Dynamics by 10.4% in the second quarter. Bessemer Group Inc. now owns 1,258 shares of the basic materials company’s stock valued at $161,000 after buying an additional 119 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have commented on STLD shares. Wells Fargo & Company raised their price objective on Steel Dynamics from $172.00 to $190.00 and gave the stock an “overweight” rating in a research note on Monday, December 15th. The Goldman Sachs Group set a $172.00 price target on Steel Dynamics and gave the company a “neutral” rating in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday. KeyCorp raised their target price on shares of Steel Dynamics from $152.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Finally, Citigroup upped their price target on shares of Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Steel Dynamics has a consensus rating of “Moderate Buy” and a consensus target price of $176.89.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of the stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total value of $1,343,180.29. Following the completion of the transaction, the senior vice president directly owned 117,068 shares in the company, valued at approximately $19,057,499.72. This trade represents a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.30% of the stock is currently owned by insiders.

Steel Dynamics Price Performance

STLD stock opened at $174.28 on Friday. The stock has a market cap of $25.45 billion, a price-to-earnings ratio of 23.08, a P/E/G ratio of 1.17 and a beta of 1.47. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.11 and a quick ratio of 1.47. The company has a 50 day simple moving average of $159.27 and a 200 day simple moving average of $141.68. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $176.98.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.11. The firm had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The company’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.05 earnings per share. Research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, December 31st. Steel Dynamics’s dividend payout ratio is presently 26.49%.

Steel Dynamics Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.