Natixis Advisors LLC Sells 1,085 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Natixis Advisors LLC trimmed its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 2.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 36,984 shares of the basic materials company’s stock after selling 1,085 shares during the quarter. Natixis Advisors LLC’s holdings in Steel Dynamics were worth $4,663,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Innealta Capital LLC bought a new stake in shares of Steel Dynamics during the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Steel Dynamics during the second quarter worth about $41,000. Cullen Frost Bankers Inc. grew its position in Steel Dynamics by 33.3% during the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock worth $52,000 after buying an additional 100 shares in the last quarter. HHM Wealth Advisors LLC purchased a new position in Steel Dynamics during the second quarter worth about $52,000. Finally, Eagle Bay Advisors LLC purchased a new position in Steel Dynamics during the third quarter worth about $64,000. 82.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,000 shares of the company’s stock in a transaction that occurred 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 owns 21,101 shares of the company’s stock, valued at $2,927,763.75. This represents a 8.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Miguel Alvarez sold 6,650 shares of the company’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 of the company’s stock, valued at $16,723,707. The trade was a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,591 shares of company stock valued at $3,885,938 in the last 90 days. Insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on STLD. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. BMO Capital Markets boosted 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. Morgan Stanley reduced their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. upped their price objective on Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Four 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 company has a consensus rating of “Hold” and an average price target of $144.29.

Steel Dynamics Trading Down 1.0 %

NASDAQ STLD opened at $143.57 on Friday. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The stock has a 50-day moving average of $132.24 and a 200-day moving average of $127.50. The firm has a market cap of $21.86 billion, a PE ratio of 12.99 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The company 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 company posted $3.47 EPS. Steel Dynamics’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, sell-side analysts forecast that Steel Dynamics, Inc. will post 10.1 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.28%. 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.