Park Avenue Securities LLC Has $291,000 Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Park Avenue Securities LLC cut its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 30.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,550 shares of the basic materials company’s stock after selling 1,124 shares during the period. Park Avenue Securities LLC’s holdings in Steel Dynamics were worth $291,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Holocene Advisors LP lifted its stake in Steel Dynamics by 85.8% during the third quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock worth $289,400,000 after purchasing an additional 1,060,007 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Steel Dynamics by 6.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company’s stock worth $194,933,000 after purchasing an additional 96,122 shares during the period. Nordea Investment Management AB lifted its position in Steel Dynamics by 22.4% during the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after buying an additional 253,802 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in Steel Dynamics by 116.5% during the third quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock valued at $128,434,000 after purchasing an additional 548,086 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Steel Dynamics by 21.8% in the 3rd quarter. Barclays PLC now owns 448,942 shares of the basic materials company’s stock valued at $56,603,000 after acquiring an additional 80,262 shares during the period. Institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on STLD shares. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. Citigroup lowered their price target on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. StockNews.com lowered shares of Steel Dynamics from a “hold” rating to a “sell” rating in a report on Thursday. Finally, JPMorgan Chase & Co. reduced their price target on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a research report on Friday, January 17th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $143.38.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $122.35 on Friday. The company’s 50 day moving average price is $127.27 and its two-hundred day moving average price is $126.38. 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. The stock has a market cap of $18.63 billion, a P/E ratio of 12.48 and a beta of 1.36.

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

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is currently 18.78%.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the transaction, the senior vice president now owns 21,101 shares in the company, valued at approximately $2,927,763.75. The trade was a 8.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 116,949 shares in the company, valued at $16,723,707. This trade represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,650 shares of company stock valued at $1,498,170. Insiders own 6.00% of the company’s stock.

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.