Steel Dynamics, Inc. $STLD Stock Holdings Trimmed by Catalyst Funds Management Pty Ltd

Catalyst Funds Management Pty Ltd lessened its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 60.5% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,700 shares of the basic materials company’s stock after selling 4,140 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in Steel Dynamics were worth $346,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in STLD. Kestra Private Wealth Services LLC boosted its holdings in shares of Steel Dynamics by 6.3% during the first quarter. Kestra Private Wealth Services LLC now owns 2,352 shares of the basic materials company’s stock valued at $294,000 after acquiring an additional 140 shares during the period. Teachers Retirement System of The State of Kentucky lifted its position in Steel Dynamics by 3.0% in the 1st quarter. Teachers Retirement System of The State of Kentucky now owns 10,908 shares of the basic materials company’s stock valued at $1,365,000 after purchasing an additional 321 shares during the last quarter. AE Wealth Management LLC boosted its stake in Steel Dynamics by 7.1% during the 1st quarter. AE Wealth Management LLC now owns 2,286 shares of the basic materials company’s stock valued at $286,000 after purchasing an additional 152 shares during the period. Lifeworks Advisors LLC bought a new position in Steel Dynamics in the 1st quarter worth about $202,000. Finally, Brookwood Investment Group LLC bought a new position in Steel Dynamics in the 1st quarter worth about $206,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Trading Up 3.3%

Shares of STLD stock opened at $158.16 on Friday. The stock has a 50-day simple moving average of $147.87 and a 200 day simple moving average of $136.44. The stock has a market capitalization of $23.10 billion, a P/E ratio of 20.95, a P/E/G ratio of 1.39 and a beta of 1.45. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $164.73. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.43.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, October 21st. The basic materials company reported $2.74 EPS for the quarter, topping the consensus estimate of $2.63 by $0.11. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The firm had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the previous year, the business earned $2.05 earnings per share. Steel Dynamics’s revenue for the quarter was up 11.2% compared to the same quarter last year. On average, sell-side analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Wednesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is presently 26.49%.

Analyst Upgrades and Downgrades

STLD has been the subject of several analyst reports. Citigroup boosted their price objective on Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Wells Fargo & Company lifted their target price on Steel Dynamics from $169.00 to $172.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. KeyCorp increased their price target on Steel Dynamics from $152.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Jefferies Financial Group raised their price target on Steel Dynamics from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. Finally, BMO Capital Markets upped their price objective on shares of Steel Dynamics from $155.00 to $167.00 and gave the stock an “outperform” rating in a report on Wednesday, October 22nd. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $170.44.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of the company’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total value of $1,343,180.29. Following the transaction, the senior vice president owned 117,068 shares of the company’s stock, valued at approximately $19,057,499.72. This represents a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.30% 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.