Steel Dynamics, Inc. $STLD Shares Sold by Johnson Financial Group Inc.

Johnson Financial Group Inc. reduced its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 74.0% in the 2nd quarter, Holdings Channel reports. The institutional investor owned 791 shares of the basic materials company’s stock after selling 2,256 shares during the period. Johnson Financial Group Inc.’s holdings in Steel Dynamics were worth $102,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC increased its holdings in shares of Steel Dynamics by 493.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 163 shares during the last quarter. Trust Co. of Toledo NA OH acquired a new position in Steel Dynamics in the second quarter worth $30,000. Zions Bancorporation National Association UT bought a new stake in Steel Dynamics during the first quarter valued at $32,000. WPG Advisers LLC acquired a new stake in shares of Steel Dynamics during the first quarter worth $32,000. Finally, Rosenberg Matthew Hamilton raised its holdings in shares of Steel Dynamics by 306.2% during the second quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 199 shares during the period. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $167.88 on Friday. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $168.36. The company has a current ratio of 3.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43. The company has a market cap of $24.52 billion, a PE ratio of 22.24, a P/E/G ratio of 1.39 and a beta of 1.45. The stock has a 50 day simple moving average of $150.65 and a 200-day simple moving average of $137.60.

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

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be issued a $0.50 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. Steel Dynamics’s dividend payout ratio (DPR) is 26.49%.

Insider Transactions at Steel Dynamics

In other news, SVP Miguel Alvarez sold 8,251 shares of Steel Dynamics stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

STLD has been the subject of several research reports. JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $150.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, October 13th. KeyCorp lifted their target price on Steel Dynamics from $152.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Citigroup increased their price target on Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a report on Tuesday. Finally, The Goldman Sachs Group set a $172.00 price objective on Steel Dynamics and gave the stock a “neutral” rating in a research note on Friday, October 31st. Seven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Steel Dynamics currently has a consensus rating of “Moderate Buy” and an average target price of $170.44.

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.