Exchange Traded Concepts LLC Sells 181 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Exchange Traded Concepts LLC cut its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 6.7% in the 4th quarter, Holdings Channel reports. The fund owned 2,504 shares of the basic materials company’s stock after selling 181 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Steel Dynamics were worth $286,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. The Manufacturers Life Insurance Company grew its position in Steel Dynamics by 0.5% during the second quarter. The Manufacturers Life Insurance Company now owns 93,763 shares of the basic materials company’s stock valued at $12,142,000 after acquiring an additional 470 shares during the last quarter. Creative Planning boosted its stake in shares of Steel Dynamics by 2.6% in the 2nd quarter. Creative Planning now owns 27,138 shares of the basic materials company’s stock valued at $3,514,000 after purchasing an additional 684 shares in the last quarter. Truist Financial Corp grew its holdings in shares of Steel Dynamics by 3.1% during the 2nd quarter. Truist Financial Corp now owns 72,834 shares of the basic materials company’s stock valued at $9,432,000 after purchasing an additional 2,190 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in Steel Dynamics in the 2nd quarter worth $2,049,000. Finally, Czech National Bank lifted its stake in Steel Dynamics by 3.9% in the third quarter. Czech National Bank now owns 29,232 shares of the basic materials company’s stock worth $3,686,000 after purchasing an additional 1,085 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction dated Friday, November 15th. The shares were 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 directly owns 21,101 shares of the company’s stock, valued at $2,927,763.75. This trade represents a 8.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Miguel Alvarez sold 6,650 shares of the company’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the sale, the senior vice president now owns 116,949 shares in the company, valued at approximately $16,723,707. This trade represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on STLD. The Goldman Sachs Group assumed coverage on Steel Dynamics in a research note on Monday, December 2nd. They set a “neutral” rating and a $155.00 price objective on the stock. Jefferies Financial Group upgraded Steel Dynamics from a “hold” rating to a “buy” rating and raised their price target for the stock from $125.00 to $145.00 in a research report on Friday, January 24th. Citigroup lowered their price objective on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. UBS Group restated a “neutral” rating and issued a $149.00 target price (up previously from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. lowered their price target on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a report on Friday, January 17th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $143.38.

Steel Dynamics Price Performance

Shares of Steel Dynamics stock opened at $128.20 on Friday. The business has a 50 day moving average of $125.73 and a 200 day moving average of $126.33. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56. The company has a market cap of $19.52 billion, a PE ratio of 13.08 and a beta of 1.36. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same quarter in the prior year, the business earned $2.61 earnings per share. As a group, equities research analysts forecast that Steel Dynamics, Inc. will post 8.9 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.46 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.84 annualized dividend and a yield of 1.44%. Steel Dynamics’s payout ratio is 18.78%.

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.