Apollon Wealth Management LLC Trims Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Apollon Wealth Management LLC lowered its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 16.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 4,891 shares of the basic materials company’s stock after selling 945 shares during the quarter. Apollon Wealth Management LLC’s holdings in Steel Dynamics were worth $617,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of STLD. Price T Rowe Associates Inc. MD lifted its stake in Steel Dynamics by 4.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock worth $534,295,000 after acquiring an additional 152,254 shares during the period. Pacer Advisors Inc. raised its holdings in Steel Dynamics by 7.0% in the 2nd quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company’s stock worth $276,891,000 after purchasing an additional 140,042 shares in the last quarter. Thrivent Financial for Lutherans lifted its position in shares of Steel Dynamics by 1.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company’s stock worth $228,999,000 after purchasing an additional 22,390 shares during the period. LSV Asset Management boosted its stake in shares of Steel Dynamics by 3.9% during the 2nd quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company’s stock valued at $182,604,000 after purchasing an additional 53,532 shares in the last quarter. Finally, AustralianSuper Pty Ltd increased its position in shares of Steel Dynamics by 1.8% during the second quarter. AustralianSuper Pty Ltd now owns 592,255 shares of the basic materials company’s stock valued at $76,697,000 after buying an additional 10,701 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

STLD has been the subject of several research analyst reports. BMO Capital Markets raised their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Morgan Stanley decreased their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. JPMorgan Chase & Co. raised 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. Finally, Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $144.29.

Insider Activity

In other news, 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 transaction of $950,950.00. Following the completion of the transaction, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Glenn Pushis sold 17,941 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, the senior vice president now owns 146,693 shares in the company, valued at $19,523,371.37. This represents a 10.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,591 shares of company stock valued at $3,608,438 over the last ninety days. 6.00% of the stock is currently owned by corporate insiders.

Steel Dynamics Price Performance

STLD opened at $139.41 on Friday. The firm has a market cap of $21.22 billion, a PE ratio of 12.62 and a beta of 1.31. The stock has a 50-day moving average price of $128.98 and a 200-day moving average price of $127.09. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $155.56. 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 issued its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.07. The business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the previous year, the company earned $3.47 earnings per share. Sell-side analysts predict that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics’s payout ratio is 16.65%.

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.