BTC Capital Management Inc. Reduces Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

BTC Capital Management Inc. lowered its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 8.2% in the fourth quarter, HoldingsChannel reports. The firm owned 74,327 shares of the basic materials company’s stock after selling 6,662 shares during the period. BTC Capital Management Inc.’s holdings in Steel Dynamics were worth $8,462,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new position in Steel Dynamics in the third quarter valued at about $25,000. ORG Wealth Partners LLC acquired a new position in Steel Dynamics in the fourth quarter valued at about $28,000. Private Trust Co. NA lifted its position in Steel Dynamics by 532.6% in the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after buying an additional 245 shares during the last quarter. Brooklyn Investment Group acquired a new position in Steel Dynamics in the third quarter valued at about $61,000. Finally, Quest Partners LLC acquired a new stake in shares of Steel Dynamics during the third quarter worth about $62,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock opened at $130.71 on Friday. The firm has a market capitalization of $19.90 billion, a P/E ratio of 13.34 and a beta of 1.36. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. The firm’s 50 day moving average is $126.04 and its two-hundred day moving average is $126.36.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same quarter in the previous year, the business earned $2.61 earnings per share. Research analysts forecast that Steel Dynamics, Inc. will post 8.9 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.46 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.41%. Steel Dynamics’s dividend payout ratio (DPR) is presently 18.78%.

Insider Transactions at Steel Dynamics

In other news, SVP Richard A. Poinsatte sold 2,000 shares of the firm’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 transaction of $277,500.00. Following the transaction, the senior vice president now directly owns 21,101 shares in the company, valued at approximately $2,927,763.75. This trade represents a 8.66 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Miguel Alvarez sold 6,650 shares of the firm’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 transaction, the senior vice president now owns 116,949 shares in the company, valued at approximately $16,723,707. This trade represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

Wall Street Analysts Forecast Growth

STLD has been the topic of several research reports. BMO Capital Markets increased their price target on shares of 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 reaffirmed a “neutral” rating and issued a $149.00 target price (up previously from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and raised their target price for the company from $125.00 to $145.00 in a report on Friday, January 24th. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. reduced their target price on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a report on Friday, January 17th. One research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $143.38.

Steel Dynamics 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.