Steel Dynamics, Inc. $STLD Shares Sold by Manning & Napier Advisors LLC

Manning & Napier Advisors LLC lessened its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 78.7% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,967 shares of the basic materials company’s stock after selling 18,406 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Steel Dynamics were worth $693,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Bartlett & CO. Wealth Management LLC grew its stake in 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 buying an additional 75 shares during the period. Harbour Capital Advisors LLC boosted its position in Steel Dynamics by 0.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 14,828 shares of the basic materials company’s stock worth $1,988,000 after purchasing an additional 80 shares during the period. Security Financial Services INC. increased its holdings in Steel Dynamics by 2.1% in the 3rd quarter. Security Financial Services INC. now owns 4,675 shares of the basic materials company’s stock valued at $652,000 after purchasing an additional 94 shares in the last quarter. Blair William & Co. IL increased its holdings in Steel Dynamics by 5.8% in the 2nd quarter. Blair William & Co. IL now owns 1,813 shares of the basic materials company’s stock valued at $232,000 after purchasing an additional 100 shares in the last quarter. Finally, Toth Financial Advisory Corp raised its position in Steel Dynamics by 50.0% in the third quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on STLD shares. UBS Group set a $165.00 target price on Steel Dynamics in a research report on Tuesday, November 4th. Morgan Stanley restated an “equal weight” rating and issued a $194.00 price target (up previously from $173.00) on shares of Steel Dynamics in a report on Friday, January 9th. Jefferies Financial Group increased their price objective on shares of Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. JPMorgan Chase & Co. lifted their price objective on shares of Steel Dynamics from $165.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Finally, KeyCorp reissued an “overweight” rating and set a $190.00 target price on shares of Steel Dynamics in a research report on Wednesday, January 7th. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $182.00.

Steel Dynamics Trading Up 2.5%

STLD opened at $175.11 on Friday. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $178.36. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.11 and a quick ratio of 1.47. The stock has a market capitalization of $25.57 billion, a PE ratio of 23.19, a P/E/G ratio of 0.71 and a beta of 1.48. The firm’s fifty day moving average price is $167.03 and its 200 day moving average price is $147.08.

Steel Dynamics (NASDAQ:STLD) last released its 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 company had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The company’s revenue was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.05 EPS. As a group, research analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.50 per share. The ex-dividend date was Wednesday, December 31st. This represents a $2.00 annualized dividend and a yield of 1.1%. Steel Dynamics’s dividend payout ratio is presently 26.49%.

Insider Buying and Selling

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

About Steel Dynamics

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.