Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Stonehearth Capital Management LLC

Stonehearth Capital Management LLC decreased its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,287 shares of the basic materials company’s stock after selling 161 shares during the quarter. Stonehearth Capital Management LLC’s holdings in Steel Dynamics were worth $261,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in STLD. Larson Financial Group LLC raised its holdings in shares of Steel Dynamics by 9,465.5% in the 3rd quarter. Larson Financial Group LLC now owns 18,844 shares of the basic materials company’s stock valued at $2,376,000 after purchasing an additional 18,647 shares in the last quarter. World Investment Advisors LLC acquired a new stake in shares of Steel Dynamics during the 3rd quarter worth about $15,880,000. Envestnet Asset Management Inc. lifted its stake in Steel Dynamics by 9.4% during the second quarter. Envestnet Asset Management Inc. now owns 230,922 shares of the basic materials company’s stock worth $29,904,000 after purchasing an additional 19,853 shares during the last quarter. IFM Investors Pty Ltd boosted its holdings in Steel Dynamics by 21.5% in the third quarter. IFM Investors Pty Ltd now owns 38,355 shares of the basic materials company’s stock valued at $4,836,000 after purchasing an additional 6,779 shares in the last quarter. Finally, iA Global Asset Management Inc. increased its stake in Steel Dynamics by 48.0% in the third quarter. iA Global Asset Management Inc. now owns 13,262 shares of the basic materials company’s stock valued at $1,672,000 after purchasing an additional 4,302 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Activity

In related news, SVP Richard A. Poinsatte sold 2,000 shares of the business’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $138.75, for a total value 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 approximately $2,927,763.75. The trade was a 8.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, 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 transaction of $2,387,767.69. Following the sale, the senior vice president now directly owns 146,693 shares in the company, valued at $19,523,371.37. This represents a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,591 shares of company stock worth $3,885,938 over the last ninety days. 6.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on STLD shares. JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. BMO Capital Markets boosted their target price on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a research report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price objective on the stock. Morgan Stanley lowered their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 18th. Finally, Citigroup cut their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $141.13.

Steel Dynamics Price Performance

Shares of NASDAQ STLD traded up $1.03 during midday trading on Tuesday, hitting $119.67. The company had a trading volume of 749,064 shares, compared to its average volume of 1,572,620. The firm has a market capitalization of $18.22 billion, a price-to-earnings ratio of 10.83 and a beta of 1.36. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56. The business has a 50-day simple moving average of $132.34 and a two-hundred day simple moving average of $126.80. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $3.47 EPS. Equities research analysts anticipate that Steel Dynamics, Inc. will post 10.09 earnings per share 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 issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is presently 16.65%.

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.