Impact Partnership Wealth LLC Sells 132 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Impact Partnership Wealth LLC lessened its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 3.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,292 shares of the basic materials company’s stock after selling 132 shares during the quarter. Impact Partnership Wealth LLC’s holdings in Steel Dynamics were worth $415,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD increased its position in Steel Dynamics by 4.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock worth $534,295,000 after purchasing an additional 152,254 shares during the last quarter. Pacer Advisors Inc. raised its position in shares of Steel Dynamics by 7.0% during the 2nd quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company’s stock valued at $276,891,000 after buying an additional 140,042 shares in the last quarter. Thrivent Financial for Lutherans lifted its holdings in shares of Steel Dynamics by 1.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company’s stock valued at $228,999,000 after acquiring an additional 22,390 shares during the last quarter. LSV Asset Management grew its position in Steel Dynamics by 3.9% in the second quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company’s stock worth $182,604,000 after acquiring an additional 53,532 shares in the last quarter. Finally, Acadian Asset Management LLC increased its stake in Steel Dynamics by 21.6% during the first quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock worth $168,550,000 after acquiring an additional 202,312 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction on 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 owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages have recently commented on STLD. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. Morgan Stanley dropped their price objective on shares of 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. increased their target price on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Finally, BMO Capital Markets increased their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, Steel Dynamics currently has a consensus rating of “Hold” and a consensus target price of $144.29.

Steel Dynamics Trading Down 0.2 %

Shares of NASDAQ:STLD traded down $0.32 during trading on Thursday, reaching $128.32. 35,723 shares of the company were exchanged, compared to its average volume of 1,260,410. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. The firm has a market capitalization of $19.80 billion, a PE ratio of 11.64 and a beta of 1.31. The business’s fifty day simple moving average is $121.70 and its 200-day simple moving average is $127.03. Steel Dynamics, Inc. has a 12-month low of $99.01 and a 12-month high of $151.34.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same period in the previous year, the company posted $3.47 EPS. Steel Dynamics’s revenue was down 5.4% on a year-over-year basis. On average, research analysts anticipate that Steel Dynamics, Inc. will post 10.22 EPS for the current year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a $0.46 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.84 annualized dividend and a dividend yield of 1.43%. Steel Dynamics’s payout ratio 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.