Cypress Capital Group Sells 285 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Cypress Capital Group trimmed its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 4.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 6,351 shares of the basic materials company’s stock after selling 285 shares during the quarter. Cypress Capital Group’s holdings in Steel Dynamics were worth $801,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in shares of Steel Dynamics by 4.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock worth $534,295,000 after purchasing an additional 152,254 shares during the last quarter. Pacer Advisors Inc. increased its holdings in shares of Steel Dynamics by 7.0% in the second quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company’s stock worth $276,891,000 after purchasing an additional 140,042 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Steel Dynamics by 1.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company’s stock worth $228,999,000 after purchasing an additional 22,390 shares during the last quarter. LSV Asset Management increased its holdings in shares of Steel Dynamics by 3.9% in the second quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company’s stock worth $182,604,000 after purchasing an additional 53,532 shares during the last quarter. Finally, AustralianSuper Pty Ltd increased its holdings in shares of Steel Dynamics by 1.8% in the second quarter. AustralianSuper Pty Ltd now owns 592,255 shares of the basic materials company’s stock worth $76,697,000 after purchasing an additional 10,701 shares during the last quarter. 82.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Steel Dynamics Stock Up 1.0 %

Shares of NASDAQ:STLD opened at $145.54 on Friday. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $155.56. The business has a 50 day simple moving average of $131.63 and a two-hundred day simple moving average of $127.42. The firm has a market capitalization of $22.16 billion, a PE ratio of 13.17 and a beta of 1.31. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26.

Steel Dynamics (NASDAQ:STLD) last posted 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 firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter in the previous year, the firm posted $3.47 earnings per share. The company’s revenue was down 5.4% on a year-over-year basis. On average, equities analysts predict that Steel Dynamics, Inc. will post 10.1 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.26%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is presently 16.65%.

Insider Activity

In related news, SVP Richard A. Poinsatte sold 2,000 shares of the business’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the completion of the transaction, the senior vice president now owns 21,101 shares of the company’s stock, valued at $2,927,763.75. The trade was a 8.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the transaction, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at $16,723,707. This trade represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,591 shares of company stock valued at $3,885,938. Corporate insiders own 6.00% of the company’s stock.

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.