Steel Dynamics, Inc. $STLD Shares Sold by QRG Capital Management Inc.

QRG Capital Management Inc. decreased its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 73.6% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 8,249 shares of the basic materials company’s stock after selling 23,047 shares during the quarter. QRG Capital Management Inc.’s holdings in Steel Dynamics were worth $1,150,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Trust Co. of Toledo NA OH acquired a new position in Steel Dynamics during the 2nd quarter valued at $30,000. Rosenberg Matthew Hamilton increased its stake in Steel Dynamics by 306.2% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 199 shares in the last quarter. Toth Financial Advisory Corp boosted its stake in shares of Steel Dynamics by 50.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock worth $42,000 after buying an additional 100 shares during the last quarter. True Wealth Design LLC grew its position in Steel Dynamics by 120.4% during the 2nd quarter. True Wealth Design LLC now owns 324 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 177 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC lifted its holdings in shares of Steel Dynamics by 24.8% during the third quarter. Bartlett & CO. Wealth Management LLC now owns 377 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 75 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently commented on STLD shares. Wells Fargo & Company raised their price objective on shares of Steel Dynamics from $172.00 to $190.00 and gave the stock an “overweight” rating in a research report on Monday, December 15th. KeyCorp reissued an “overweight” rating and set a $190.00 price objective on shares of Steel Dynamics in a report on Wednesday, January 7th. BMO Capital Markets raised their target price on shares of Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. UBS Group set a $165.00 target price on Steel Dynamics in a research report on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $182.00.

Steel Dynamics Stock Performance

STLD stock opened at $171.81 on Wednesday. The stock’s 50 day simple moving average is $168.27 and its 200 day simple moving average is $148.18. The company has a current ratio of 3.11, a quick ratio of 1.47 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $178.36. The stock has a market capitalization of $25.09 billion, a PE ratio of 22.76, a price-to-earnings-growth ratio of 0.72 and a beta of 1.48.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share for the quarter, topping the consensus estimate of $2.63 by $0.11. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.The company’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.05 earnings per share. As a group, research analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st were given a $0.50 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $2.00 annualized dividend and a yield of 1.2%. Steel Dynamics’s dividend payout ratio (DPR) is presently 26.49%.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Miguel Alvarez sold 8,251 shares of the business’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the completion of the sale, the senior vice president owned 117,068 shares of the company’s stock, valued at $19,057,499.72. The trade was a 6.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.30% of the stock is owned by corporate insiders.

Steel Dynamics Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.