Crossmark Global Holdings Inc. Cuts Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Crossmark Global Holdings Inc. reduced its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,929 shares of the basic materials company’s stock after selling 190 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Steel Dynamics were worth $905,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in STLD. Wilmington Savings Fund Society FSB purchased a new stake in Steel Dynamics during the 3rd quarter worth $25,000. ORG Wealth Partners LLC acquired a new position in shares of Steel Dynamics during the fourth quarter worth about $28,000. Private Trust Co. NA boosted its position in shares of Steel Dynamics by 532.6% in the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after buying an additional 245 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Steel Dynamics in the third quarter valued at about $61,000. Finally, Quest Partners LLC purchased a new stake in shares of Steel Dynamics during the 3rd quarter valued at about $62,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Trading Down 0.0 %

NASDAQ:STLD opened at $122.35 on Friday. The company has a market cap of $18.63 billion, a PE ratio of 12.48 and a beta of 1.36. The business’s 50 day moving average is $127.27 and its two-hundred day moving average is $126.37. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.25% and a net margin of 8.76%. During the same period in the prior year, the firm earned $2.61 EPS. On average, analysts predict that Steel Dynamics, Inc. will post 8.93 EPS for the current year.

Steel Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors 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 1.50%. The ex-dividend date of this dividend was Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is presently 18.78%.

Insider Buying and Selling

In related news, SVP Richard A. Poinsatte sold 2,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $138.75, for a total transaction of $277,500.00. Following the completion of the transaction, the senior vice president now directly owns 21,101 shares in the company, valued at $2,927,763.75. This represents a 8.66 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Miguel Alvarez sold 6,650 shares of the firm’s stock in a transaction on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the sale, the senior vice president now owns 116,949 shares in the company, valued at $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 10,650 shares of company stock worth $1,498,170 over the last quarter. 6.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

STLD has been the subject of a number of analyst reports. BNP Paribas upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. UBS Group restated a “neutral” rating and issued a $149.00 target price (up from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. StockNews.com cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Thursday. Finally, BMO Capital Markets lifted their target price 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. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $143.38.

Steel Dynamics Company 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.