State of Alaska Department of Revenue Sells 10,995 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

State of Alaska Department of Revenue lowered its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 29.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 26,633 shares of the basic materials company’s stock after selling 10,995 shares during the quarter. State of Alaska Department of Revenue’s holdings in Steel Dynamics were worth $3,357,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in STLD. Larson Financial Group LLC acquired a new position in shares of Steel Dynamics in the 1st quarter valued at $25,000. Innealta Capital LLC acquired a new position in shares of Steel Dynamics in the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Steel Dynamics in the 2nd quarter valued at $41,000. Cullen Frost Bankers Inc. lifted its stake in shares of Steel Dynamics by 33.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 100 shares during the period. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Steel Dynamics in the 2nd quarter valued at $52,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Activity

In other news, SVP Glenn Pushis sold 17,941 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was 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 owns 146,693 shares in the company, valued at $19,523,371.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Glenn Pushis sold 17,941 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was 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 owns 146,693 shares in the company, valued at $19,523,371.37. This trade represents a 0.00 % 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 firm’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $134.86, for a total value 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 $2,306,106. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is owned by corporate insiders.

Steel Dynamics Stock Performance

STLD opened at $132.77 on Thursday. The business’s 50-day moving average price is $123.25 and its two-hundred day moving average price is $126.61. Steel Dynamics, Inc. has a 1 year low of $104.08 and a 1 year high of $151.34. The company has a market capitalization of $20.49 billion, a price-to-earnings ratio of 12.02 and a beta of 1.31. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate 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 the consensus estimate of $4.18 billion. During the same quarter last year, the business posted $3.47 EPS. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities analysts expect that Steel Dynamics, Inc. will post 10.22 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.39%. The ex-dividend date of this dividend was Monday, September 30th. Steel Dynamics’s payout ratio is 16.65%.

Analysts Set New Price Targets

STLD has been the topic of a number of analyst reports. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. BMO Capital Markets raised their price objective on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. Finally, Morgan Stanley dropped their price objective 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. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $144.29.

About Steel Dynamics

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.