Steel Dynamics, Inc. $STLD Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC lessened its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 29.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 31,282 shares of the basic materials company’s stock after selling 13,018 shares during the quarter. Voya Investment Management LLC’s holdings in Steel Dynamics were worth $4,362,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of STLD. Allworth Financial LP boosted its stake in shares of Steel Dynamics by 119.3% in the second quarter. Allworth Financial LP now owns 11,012 shares of the basic materials company’s stock valued at $1,410,000 after purchasing an additional 5,991 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in Steel Dynamics by 21.9% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 88,558 shares of the basic materials company’s stock valued at $11,336,000 after buying an additional 15,931 shares during the last quarter. Edgestream Partners L.P. grew its stake in shares of Steel Dynamics by 477.1% during the second quarter. Edgestream Partners L.P. now owns 32,427 shares of the basic materials company’s stock valued at $4,151,000 after acquiring an additional 26,808 shares in the last quarter. Korea Investment CORP increased its position in shares of Steel Dynamics by 17.7% during the second quarter. Korea Investment CORP now owns 133,975 shares of the basic materials company’s stock worth $17,150,000 after acquiring an additional 20,135 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Steel Dynamics by 1.2% during the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 163,399 shares of the basic materials company’s stock worth $20,917,000 after acquiring an additional 1,954 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Miguel Alvarez sold 8,251 shares of the stock in a transaction that occurred 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 sale, the senior vice president directly owned 117,068 shares in the company, valued at approximately $19,057,499.72. This 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 the SEC website. Insiders own 6.30% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Steel Dynamics Stock Down 1.2%

STLD stock opened at $175.06 on Friday. The firm has a market cap of $25.57 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 1.19 and a beta of 1.47. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $178.36. The firm has a fifty day moving average price of $161.71 and a two-hundred day moving average price of $142.83. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.11 and a quick ratio of 1.47.

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

Steel Dynamics Dividend Announcement

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