TFB Advisors LLC Trims Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

TFB Advisors LLC decreased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 3.4% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 3,932 shares of the basic materials company’s stock after selling 137 shares during the period. TFB Advisors LLC’s holdings in Steel Dynamics were worth $496,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the stock. Atomi Financial Group Inc. raised its position in shares of Steel Dynamics by 3.1% in the first quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company’s stock worth $395,000 after buying an additional 79 shares in the last quarter. Csenge Advisory Group lifted its position in Steel Dynamics by 2.8% during the second quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock valued at $381,000 after purchasing an additional 81 shares during the last quarter. Dorsey Wright & Associates raised its position in shares of Steel Dynamics by 0.4% during the 2nd quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock valued at $3,050,000 after buying an additional 96 shares in the last quarter. Greenleaf Trust lifted its holdings in shares of Steel Dynamics by 2.1% during the 3rd quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock worth $583,000 after acquiring an additional 96 shares during the last quarter. Finally, Stiles Financial Services Inc raised its position in Steel Dynamics by 0.5% during the second quarter. Stiles Financial Services Inc now owns 18,753 shares of the basic materials company’s stock valued at $2,429,000 after purchasing an additional 99 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Up 0.4 %

NASDAQ STLD opened at $148.55 on Friday. 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 fifty-two week low of $104.60 and a fifty-two week high of $155.56. The stock has a market cap of $22.92 billion, a P/E ratio of 13.44 and a beta of 1.31. The stock has a 50 day simple moving average of $126.13 and a two-hundred day simple moving average of $126.80.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter in the previous year, the business posted $3.47 earnings per share. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, analysts forecast that Steel Dynamics, Inc. will post 10.22 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.24%. Steel Dynamics’s payout ratio is 16.65%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on STLD shares. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley decreased their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. Finally, BMO Capital Markets increased their target price on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Steel Dynamics has a consensus rating of “Hold” and a consensus target price of $144.29.

Insiders Place Their Bets

In other news, VP Chad Bickford sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the transaction, the vice president now owns 17,100 shares in the company, valued at $2,306,106. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following the sale, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at $19,523,371.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a 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 dated Monday, October 28th. The stock was sold at an average price of $134.86, for a total transaction of $269,720.00. Following the sale, the vice president now directly owns 17,100 shares in the company, valued at $2,306,106. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company 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.