Steel Dynamics, Inc. $STLD Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 8.0% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 1,290,988 shares of the basic materials company’s stock after selling 112,582 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Steel Dynamics were worth $180,003,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Versant Capital Management Inc raised its holdings in shares of Steel Dynamics by 13.2% during the 3rd quarter. Versant Capital Management Inc now owns 548 shares of the basic materials company’s stock worth $76,000 after acquiring an additional 64 shares during the period. Bartlett & CO. Wealth Management LLC increased its position 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 purchasing an additional 75 shares during the last quarter. Wright Investors Service Inc. raised its stake in Steel Dynamics by 1.5% during the third quarter. Wright Investors Service Inc. now owns 5,491 shares of the basic materials company’s stock worth $766,000 after purchasing an additional 82 shares during the period. Covestor Ltd boosted its holdings in Steel Dynamics by 44.3% in the 3rd quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 93 shares during the last quarter. Finally, Security Financial Services INC. grew its stake in shares of 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 buying an additional 94 shares during the period. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Steel Dynamics Trading Down 1.3%

NASDAQ STLD opened at $179.57 on Friday. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $185.56. The firm has a 50 day simple moving average of $171.89 and a 200-day simple moving average of $150.54. The firm has a market cap of $26.22 billion, a price-to-earnings ratio of 22.42, a PEG ratio of 0.76 and a beta of 1.48. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.47 and a current ratio of 3.06.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Monday, January 26th. The basic materials company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.72 by $0.10. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.62 billion. During the same quarter last year, the company posted $1.36 EPS. The firm’s revenue was up 14.0% compared to the same quarter last year. Equities research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st were issued 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 24.97%.

Analysts Set New Price Targets

STLD has been the topic of several analyst reports. KeyCorp reaffirmed an “overweight” rating and set a $190.00 price target on shares of Steel Dynamics in a research report on Wednesday, January 7th. BMO Capital Markets raised their target price on Steel Dynamics from $155.00 to $167.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Wall Street Zen raised Steel Dynamics from a “hold” rating to a “strong-buy” rating in a research note on Saturday. UBS Group set a $165.00 price target on Steel Dynamics in a report on Tuesday, November 4th. Finally, Wells Fargo & Company boosted their price objective on shares of Steel Dynamics from $172.00 to $190.00 and gave the company an “overweight” rating in a report on Monday, December 15th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $182.00.

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.