7,939 Steel Dynamics, Inc. $STLD Shares Sold by Machina Capital S.A.S.

Machina Capital S.A.S. decreased its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 89.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 906 shares of the basic materials company’s stock after selling 7,939 shares during the period. Machina Capital S.A.S.’s holdings in Steel Dynamics were worth $201,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in STLD. Meeder Asset Management Inc. bought a new position in Steel Dynamics during the 2nd quarter worth $26,000. Wealth Enhancement Trust Services Inc. increased its position in Steel Dynamics by 1,200.0% in the third quarter. Wealth Enhancement Trust Services Inc. now owns 117 shares of the basic materials company’s stock worth $26,000 after buying an additional 108 shares during the period. NBH Bank bought a new stake in Steel Dynamics in the second quarter valued at $31,000. City State Bank bought a new stake in Steel Dynamics in the third quarter valued at $32,000. Finally, Caitlin John LLC acquired a new position in shares of Steel Dynamics during the second quarter valued at $35,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of NASDAQ:STLD traded down $7.68 on Friday, hitting $229.43. The company’s stock had a trading volume of 699,941 shares, compared to its average volume of 1,060,069. Steel Dynamics, Inc. has a 12 month low of $151.21 and a 12 month high of $288.74. The company has a market capitalization of $32.63 billion, a price-to-earnings ratio of 16.93, a price-to-earnings-growth ratio of 0.34 and a beta of 1.45. The stock’s 50-day moving average is $237.86 and its two-hundred day moving average is $226.29. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.48 and a current ratio of 3.14.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, October 20th. The basic materials company reported $5.26 earnings per share for the quarter, missing analysts’ consensus estimates of $5.48 by ($0.22). Steel Dynamics had a net margin of 8.82% and a return on equity of 21.57%. The company had revenue of $6.51 billion for the quarter, compared to the consensus estimate of $6.43 billion. During the same quarter in the prior year, the firm earned $2.74 earnings per share. Steel Dynamics’s revenue for the quarter was up 34.8% compared to the same quarter last year. On average, equities research analysts forecast that Steel Dynamics, Inc. will post 18.12 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 8th. Investors of record on Thursday, December 31st will be given a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date is Thursday, December 31st. Steel Dynamics’s dividend payout ratio is currently 15.65%.

Steel Dynamics declared that its board has initiated a stock repurchase plan on Monday, November 9th that authorizes the company to repurchase $3 billion in shares. This repurchase authorization authorizes the basic materials company to purchase up to 8.8% of its shares through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

STLD has been the subject of several recent research reports. Weiss Ratings upgraded shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, October 28th. Wells Fargo & Company lifted their price objective on shares of Steel Dynamics from $257.00 to $271.00 and gave the company an “overweight” rating in a research report on Wednesday, October 21st. BMO Capital Markets decreased their target price on shares of Steel Dynamics from $296.00 to $290.00 and set an “outperform” rating for the company in a research report on Tuesday, September 29th. JPMorgan Chase & Co. dropped their price target on shares of Steel Dynamics from $272.00 to $260.00 and set a “neutral” rating on the stock in a research note on Friday, October 9th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $299.00 price target (down from $301.00) on shares of Steel Dynamics in a report on Tuesday, October 20th. Nine equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Steel Dynamics currently has an average rating of “Moderate Buy” and a consensus target price of $276.83.

Insider Buying and Selling

In other Steel Dynamics news, EVP Barry Schneider sold 50,000 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $248.91, for a total transaction of $12,445,500.00. Following the transaction, the executive vice president owned 196,399 shares of the company’s stock, valued at approximately $48,885,675.09. This trade represents a 20.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 6.60% of the company’s stock.

Steel Dynamics Company Profile

Steel Dynamics, Inc. is a U.S.-based steel producer and metals recycler founded in 1993. The company operates electric-arc-furnace steel mills and produces flat-rolled, structural, engineered bar, merchant bar and rail products for customers across a range of industries. Its businesses also include metals recycling, steel fabrication and aluminum operations. Through these activities, Steel Dynamics collects and processes scrap metal, manufactures steel components and supplies products used in construction, automotive manufacturing, energy and other markets.