Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Financial Partners Group LLC

Financial Partners Group LLC lowered its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 10.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,899 shares of the basic materials company’s stock after selling 1,370 shares during the quarter. Financial Partners Group LLC’s holdings in Steel Dynamics were worth $1,357,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Commerce Bank grew its position in Steel Dynamics by 1.2% in the 3rd quarter. Commerce Bank now owns 5,981 shares of the basic materials company’s stock worth $754,000 after purchasing an additional 73 shares during the last quarter. M&T Bank Corp increased its stake in shares of Steel Dynamics by 0.9% during the third quarter. M&T Bank Corp now owns 10,055 shares of the basic materials company’s stock valued at $1,267,000 after acquiring an additional 88 shares during the period. Atomi Financial Group Inc. raised its stake in shares of Steel Dynamics by 5.0% in the 4th quarter. Atomi Financial Group Inc. now owns 1,929 shares of the basic materials company’s stock worth $220,000 after buying an additional 91 shares in the last quarter. Covestor Ltd lifted its holdings in Steel Dynamics by 10.8% in the 3rd quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock valued at $120,000 after acquiring an additional 93 shares during the last quarter. Finally, Dorsey Wright & Associates lifted its stake in Steel Dynamics by 0.4% during the second quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock valued at $3,050,000 after purchasing an additional 96 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Down 0.4 %

Shares of NASDAQ:STLD opened at $122.37 on Friday. 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 firm has a market capitalization of $18.63 billion, a PE ratio of 12.49 and a beta of 1.36. The firm has a fifty day moving average of $127.61 and a 200 day moving average of $126.38. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.25% and a net margin of 8.76%. During the same period in the previous year, the business posted $2.61 earnings per share. As a group, research analysts anticipate that Steel Dynamics, Inc. will post 8.93 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Tuesday, December 31st. Steel Dynamics’s payout ratio is currently 18.78%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. Jefferies Financial Group lowered 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. The Goldman Sachs Group began coverage on Steel Dynamics in a research note on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price objective on the stock. JPMorgan Chase & Co. cut their price objective on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. BMO Capital Markets increased their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $140.88.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was 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 owns 21,101 shares in the company, valued at $2,927,763.75. This trade represents a 8.66 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction on 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 transaction, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 10,650 shares of company stock worth $1,498,170. Company insiders own 6.00% of the company’s stock.

About Steel Dynamics

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.