Liberty One Investment Management LLC Decreases Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Liberty One Investment Management LLC cut its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 6.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,965 shares of the basic materials company’s stock after selling 329 shares during the quarter. Liberty One Investment Management LLC’s holdings in Steel Dynamics were worth $566,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in STLD. Envestnet Asset Management Inc. lifted its stake in shares of Steel Dynamics by 9.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 230,922 shares of the basic materials company’s stock valued at $29,904,000 after buying an additional 19,853 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in Steel Dynamics by 10.1% during the 2nd quarter. Massachusetts Financial Services Co. MA now owns 19,487 shares of the basic materials company’s stock valued at $2,524,000 after acquiring an additional 1,792 shares during the period. Edgestream Partners L.P. purchased a new stake in shares of Steel Dynamics during the second quarter worth $1,498,000. Mercer Global Advisors Inc. ADV boosted its holdings in shares of Steel Dynamics by 46.9% in the second quarter. Mercer Global Advisors Inc. ADV now owns 67,503 shares of the basic materials company’s stock worth $8,976,000 after acquiring an additional 21,563 shares during the period. Finally, Vanguard Personalized Indexing Management LLC grew its position in shares of Steel Dynamics by 11.0% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 19,271 shares of the basic materials company’s stock valued at $2,496,000 after purchasing an additional 1,902 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Up 0.7 %

Shares of NASDAQ:STLD opened at $125.83 on Friday. The firm has a market capitalization of $19.16 billion, a PE ratio of 11.39 and a beta of 1.36. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56. The firm has a fifty day moving average of $129.13 and a 200 day moving average of $126.45.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.98 by $0.07. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The company’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the company earned $3.47 EPS. As a group, research analysts anticipate that Steel Dynamics, Inc. will post 9.78 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders 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 1.46%. The ex-dividend date of this dividend was Tuesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is presently 16.65%.

Insider Transactions at Steel Dynamics

In related news, SVP Glenn Pushis sold 17,941 shares of the firm’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the transaction, the senior vice president now directly owns 146,693 shares in the company, valued at $19,523,371.37. This trade represents a 10.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 owns 17,100 shares of the company’s stock, valued at $2,306,106. The trade was a 10.47 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,591 shares of company stock worth $3,885,938. 6.10% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

STLD has been the subject of several analyst reports. 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 target price for the company. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. lowered their target price on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a research note on Friday. BMO Capital Markets raised their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, 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 report on Tuesday, October 1st. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $140.88.

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.