Pathway Financial Advisers LLC Decreases Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Pathway Financial Advisers LLC lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,519 shares of the basic materials company’s stock after selling 311 shares during the quarter. Pathway Financial Advisers LLC’s holdings in Steel Dynamics were worth $5,739,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Larson Financial Group LLC acquired a new position in shares of Steel Dynamics during the first quarter valued at about $25,000. Innealta Capital LLC acquired a new position in Steel Dynamics in the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Steel Dynamics in the 2nd quarter worth approximately $41,000. Cullen Frost Bankers Inc. increased its holdings in Steel Dynamics by 33.3% in the 2nd 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 during the period. Finally, HHM Wealth Advisors LLC acquired a new position in Steel Dynamics in the 2nd quarter worth approximately $52,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on STLD shares. BMO Capital Markets increased their price target 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. Morgan Stanley cut their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. 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 research report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Steel Dynamics has an average rating of “Hold” and a consensus target price of $144.29.

Steel Dynamics Trading Down 0.4 %

Shares of STLD stock opened at $135.16 on Wednesday. The stock’s fifty day moving average is $122.98 and its two-hundred day moving average is $126.57. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. The firm has a market capitalization of $20.86 billion, a P/E ratio of 12.23 and a beta of 1.31. Steel Dynamics, Inc. has a fifty-two week low of $102.86 and a fifty-two week high of $151.34.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data 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. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the firm posted $3.47 EPS. Research analysts expect that Steel Dynamics, Inc. will post 10.22 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date of this dividend was Monday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 16.65%.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the sale, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at $19,523,371.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, VP Chad Bickford sold 2,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $134.86, for a total transaction of $269,720.00. Following the completion of the sale, the vice president now directly owns 17,100 shares of the company’s stock, valued at approximately $2,306,106. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Glenn Pushis sold 17,941 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the sale, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at $19,523,371.37. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

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.