Pathstone Holdings LLC Decreases Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Pathstone Holdings LLC cut its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 3.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 14,375 shares of the basic materials company’s stock after selling 524 shares during the period. Pathstone Holdings LLC’s holdings in Steel Dynamics were worth $1,813,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Envestnet Asset Management Inc. raised its stake in Steel Dynamics by 9.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 230,922 shares of the basic materials company’s stock valued at $29,904,000 after buying an additional 19,853 shares during the last quarter. IFM Investors Pty Ltd raised its stake in Steel Dynamics by 21.5% during the 3rd quarter. IFM Investors Pty Ltd now owns 38,355 shares of the basic materials company’s stock valued at $4,836,000 after buying an additional 6,779 shares during the last quarter. DNB Asset Management AS increased its stake in shares of Steel Dynamics by 21.5% in the 2nd quarter. DNB Asset Management AS now owns 56,602 shares of the basic materials company’s stock worth $7,330,000 after purchasing an additional 10,006 shares in the last quarter. National Bank of Canada FI increased its stake in shares of Steel Dynamics by 481.2% in the 2nd quarter. National Bank of Canada FI now owns 328,795 shares of the basic materials company’s stock worth $42,461,000 after purchasing an additional 272,226 shares in the last quarter. Finally, Harbour Capital Advisors LLC purchased a new stake in shares of Steel Dynamics in the 3rd quarter worth $640,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Steel Dynamics Trading Up 0.1 %

Shares of Steel Dynamics stock opened at $143.83 on Thursday. The company has a market capitalization of $21.90 billion, a P/E ratio of 12.96 and a beta of 1.31. 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 company has a fifty day moving average of $133.50 and a 200 day moving average of $127.57. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter in the prior year, the firm earned $3.47 EPS. The business’s revenue was down 5.4% on a year-over-year basis. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is presently 16.65%.

Wall Street Analysts Forecast Growth

STLD has been the subject of several analyst reports. BMO Capital Markets upped their price objective on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Morgan Stanley reduced their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 18th. 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 note on Friday, October 18th. 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 note on Tuesday, October 1st. Finally, 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 research note on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, Steel Dynamics currently has an average rating of “Hold” and a consensus target price of $144.29.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the sale, the senior vice president now directly owns 146,693 shares in the company, valued at approximately $19,523,371.37. This represents a 10.90 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Chad Bickford sold 2,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $134.86, for a total transaction of $269,720.00. Following the sale, the vice president now owns 17,100 shares in the company, valued at $2,306,106. This represents a 10.47 % decrease in their ownership of the stock. 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 6.10% of the company’s stock.

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.