Signet Financial Management LLC Reduces Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Signet Financial Management LLC decreased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,401 shares of the basic materials company’s stock after selling 451 shares during the period. Signet Financial Management LLC’s holdings in Steel Dynamics were worth $4,951,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Private Advisor Group LLC grew its stake in shares of Steel Dynamics by 4.7% in the second quarter. Private Advisor Group LLC now owns 4,068 shares of the basic materials company’s stock worth $527,000 after acquiring an additional 184 shares during the last quarter. Choreo LLC bought a new stake in shares of Steel Dynamics during the second quarter valued at approximately $344,000. American Century Companies Inc. raised its holdings in Steel Dynamics by 9.4% in the 2nd quarter. American Century Companies Inc. now owns 225,239 shares of the basic materials company’s stock worth $29,168,000 after acquiring an additional 19,348 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in shares of Steel Dynamics by 2.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 149,805 shares of the basic materials company’s stock valued at $18,613,000 after buying an additional 4,088 shares during the last quarter. Finally, Meeder Advisory Services Inc. grew its position in shares of Steel Dynamics by 28.0% during the 2nd quarter. Meeder Advisory Services Inc. now owns 2,222 shares of the basic materials company’s stock valued at $288,000 after acquiring an additional 486 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, SVP Glenn Pushis sold 17,941 shares of the 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 transaction, the senior vice president now owns 146,693 shares in the company, valued at approximately $19,523,371.37. This represents a 10.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Richard A. Poinsatte sold 2,000 shares of the stock in a transaction on 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 in the company, valued at $2,927,763.75. This trade represents a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 28,591 shares of company stock valued at $3,885,938 over the last quarter. 6.00% of the stock is owned by insiders.

Steel Dynamics Stock Performance

Shares of STLD traded up $6.94 during trading hours on Monday, hitting $123.27. The stock had a trading volume of 2,704,236 shares, compared to its average volume of 1,931,835. The firm has a 50-day moving average price of $131.08 and a 200 day moving average price of $126.56. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The firm has a market capitalization of $18.77 billion, a price-to-earnings ratio of 11.16 and a beta of 1.36. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping 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 company had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the previous year, the firm earned $3.47 EPS. The firm’s revenue was down 5.4% compared to the same quarter last year. As a group, research analysts anticipate that Steel Dynamics, Inc. will post 10.09 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, December 31st. Steel Dynamics’s payout ratio is currently 16.65%.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Morgan Stanley cut their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 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 research report on Friday, October 18th. JPMorgan Chase & Co. upped their target price on shares of 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 shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. Finally, Jefferies Financial Group cut their price objective on shares of Steel Dynamics from $145.00 to $125.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $141.13.

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.