Financial Partners Group LLC Lowers Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Financial Partners Group LLC lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 10.3% in the fourth quarter, Holdings Channel reports. The firm owned 11,899 shares of the basic materials company’s stock after selling 1,370 shares during the period. Financial Partners Group LLC’s holdings in Steel Dynamics were worth $1,357,000 at the end of the most recent reporting period.

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

Insider Buying and Selling

In related news, VP Chad Bickford sold 2,000 shares of Steel Dynamics stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the transaction, the vice president now owns 17,100 shares of the company’s stock, valued at approximately $2,306,106. This trade represents a 10.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total value of $950,950.00. Following the sale, the senior vice president now owns 116,949 shares in the company, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 10,650 shares of company stock worth $1,498,170 in the last three months. 6.00% of the stock is currently owned by insiders.

Steel Dynamics Stock Down 0.4 %

STLD opened at $122.37 on Friday. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The stock’s 50 day moving average price is $127.61 and its 200 day moving average price is $126.38. 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 stock has a market cap of $18.63 billion, a P/E ratio of 12.49 and a beta of 1.36.

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

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were paid 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 was Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is presently 18.78%.

Analyst Ratings Changes

STLD has been the subject of several research reports. BNP Paribas raised Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. StockNews.com downgraded shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Thursday. JPMorgan Chase & Co. decreased their target price 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. Finally, BMO Capital Markets lifted their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. One analyst has rated the stock with a sell rating, six have issued a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $140.88.

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.