Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Inspire Investing LLC

Inspire Investing LLC trimmed its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 30.7% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 15,682 shares of the basic materials company’s stock after selling 6,956 shares during the quarter. Inspire Investing LLC’s holdings in Steel Dynamics were worth $1,789,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisory Alpha LLC acquired a new stake in shares of Steel Dynamics in the fourth quarter valued at $302,000. Nisa Investment Advisors LLC raised its position in Steel Dynamics by 4.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 32,151 shares of the basic materials company’s stock worth $3,682,000 after acquiring an additional 1,495 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in 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 valued at $220,000 after acquiring an additional 91 shares during the last quarter. MassMutual Private Wealth & Trust FSB boosted its position in shares of Steel Dynamics by 38.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 541 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 150 shares in the last quarter. Finally, Annex Advisory Services LLC grew its stake in shares of Steel Dynamics by 7.5% in the 4th quarter. Annex Advisory Services LLC now owns 2,150 shares of the basic materials company’s stock worth $245,000 after purchasing an additional 150 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Stock Down 1.4 %

NASDAQ:STLD opened at $122.89 on Thursday. The business’s fifty day moving average price is $127.92 and its 200 day moving average price is $126.41. The firm has a market capitalization of $18.71 billion, a price-to-earnings ratio of 11.12 and a beta of 1.36. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. During the same period last year, the company posted $2.61 earnings per share. On average, sell-side analysts forecast that Steel Dynamics, Inc. will post 9.7 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend was Tuesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is presently 16.65%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Citigroup cut their target price on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. BNP Paribas upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. decreased their target price on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. Finally, Jefferies Financial Group dropped their price target on Steel Dynamics from $145.00 to $125.00 and set a “hold” rating on the stock in a research note on Monday, January 6th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $140.88.

Insider Buying and Selling

In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the sale, the vice president now directly owns 17,100 shares of the company’s stock, valued at $2,306,106. The trade was a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Miguel Alvarez sold 6,650 shares of the 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 transaction, the senior vice president now owns 116,949 shares in the company, valued at approximately $16,723,707. This trade represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 10,650 shares of company stock worth $1,498,170. Corporate insiders own 6.00% of the company’s stock.

Steel Dynamics Company 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.