Thurston Springer Miller Herd & Titak Inc. Sells 160 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Thurston Springer Miller Herd & Titak Inc. trimmed its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 13.7% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,011 shares of the basic materials company’s stock after selling 160 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Steel Dynamics were worth $115,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Commerce Bank increased its stake in Steel Dynamics by 1.2% in the third quarter. Commerce Bank now owns 5,981 shares of the basic materials company’s stock worth $754,000 after purchasing an additional 73 shares during the period. M&T Bank Corp increased its stake in Steel Dynamics by 0.9% in the 3rd quarter. M&T Bank Corp now owns 10,055 shares of the basic materials company’s stock worth $1,267,000 after buying an additional 88 shares during the period. Covestor Ltd increased its stake in Steel Dynamics by 10.8% in the 3rd quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock worth $120,000 after buying an additional 93 shares during the period. Dorsey Wright & Associates lifted its holdings in Steel Dynamics by 0.4% during the 2nd quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock valued at $3,050,000 after buying an additional 96 shares in the last quarter. Finally, Greenleaf Trust boosted its position in Steel Dynamics by 2.1% in the 3rd quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock valued at $583,000 after buying an additional 96 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock opened at $125.83 on Friday. The company has a market capitalization of $19.16 billion, a PE ratio of 11.39 and a beta of 1.36. The company has a 50-day simple moving average of $129.13 and a two-hundred day simple moving average of $126.46. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the previous year, the business posted $3.47 EPS. Steel Dynamics’s revenue was down 5.4% on a year-over-year basis. Research analysts expect that Steel Dynamics, Inc. will post 9.78 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Tuesday, December 31st. Steel Dynamics’s payout ratio is presently 16.65%.

Insider Transactions at Steel Dynamics

In related news, SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the transaction, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at $19,523,371.37. This represents a 10.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Richard A. Poinsatte sold 2,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the completion of the sale, the senior vice president now directly owns 21,101 shares of the company’s stock, valued at approximately $2,927,763.75. This represents a 8.66 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,591 shares of company stock valued at $3,885,938. Corporate insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. JPMorgan Chase & Co. decreased their price target on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research note on Friday. BNP Paribas raised Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. BMO Capital Markets increased their price target on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Citigroup decreased their price objective on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Finally, The Goldman Sachs Group assumed coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They set a “neutral” rating and a $155.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $140.88.

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.