Pathstone Holdings LLC Decreases Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Pathstone Holdings LLC lowered its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 3.5% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 14,375 shares of the basic materials company’s stock after selling 524 shares during the period. Pathstone Holdings LLC’s holdings in Steel Dynamics were worth $1,813,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Innealta Capital LLC bought a new stake in shares of Steel Dynamics in the second quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Steel Dynamics in the second quarter worth about $41,000. Cullen Frost Bankers Inc. grew its stake in shares of Steel Dynamics by 33.3% in the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 100 shares during the last quarter. HHM Wealth Advisors LLC bought a new stake in shares of Steel Dynamics in the second quarter worth about $52,000. Finally, Quest Partners LLC bought a new stake in shares of Steel Dynamics in the third quarter worth about $62,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Buying and Selling

In related news, SVP Glenn Pushis sold 17,941 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the transaction, the senior vice president now directly owns 146,693 shares in the company, valued at $19,523,371.37. The trade was a 10.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Chad Bickford sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total transaction of $269,720.00. Following the completion of the transaction, the vice president now owns 17,100 shares of the company’s stock, valued at approximately $2,306,106. The trade was a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,591 shares of company stock worth $3,885,938 in the last three months. Insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Morgan Stanley cut their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 18th. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. lifted their price objective on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. Finally, BMO Capital Markets lifted their price objective on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $144.29.

Steel Dynamics Stock Performance

Shares of STLD opened at $143.83 on Thursday. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average price is $133.50 and its 200-day moving average price is $127.57. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56. The stock has a market cap of $21.90 billion, a P/E ratio of 12.96 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same period in the previous year, the firm posted $3.47 EPS. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. Equities research analysts anticipate that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a $0.46 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.28%. Steel Dynamics’s dividend payout ratio is currently 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.