Burney Co. Decreases Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Burney Co. decreased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 37.7% during the fourth quarter, HoldingsChannel reports. The fund owned 7,799 shares of the basic materials company’s stock after selling 4,711 shares during the quarter. Burney Co.’s holdings in Steel Dynamics were worth $890,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in STLD. Wilmington Savings Fund Society FSB purchased a new position in shares of Steel Dynamics during the 3rd quarter worth about $25,000. ORG Wealth Partners LLC bought a new position in shares of Steel Dynamics during the fourth quarter valued at approximately $28,000. Private Trust Co. NA raised its holdings in shares of Steel Dynamics by 532.6% in the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after buying an additional 245 shares during the period. Brooklyn Investment Group bought a new stake in shares of Steel Dynamics during the 3rd quarter worth approximately $61,000. Finally, Quest Partners LLC purchased a new position in Steel Dynamics during the 3rd quarter valued at $62,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Down 0.1 %

Shares of NASDAQ:STLD opened at $125.00 on Friday. The company has a market capitalization of $19.03 billion, a PE ratio of 11.31 and a beta of 1.36. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56. The business’s fifty day simple moving average is $130.04 and its 200-day simple moving average is $126.49.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the company posted $3.47 earnings per share. As a group, equities research analysts predict that Steel Dynamics, Inc. will post 9.78 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were given a $0.46 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.47%. Steel Dynamics’s payout ratio is 16.65%.

Analyst Upgrades and Downgrades

STLD has been the subject of several research analyst reports. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. raised their target price on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Jefferies Financial Group lowered their price target on Steel Dynamics from $145.00 to $125.00 and set a “hold” rating for the company in a report on Monday, January 6th. Finally, UBS Group reaffirmed a “neutral” rating and set a $149.00 target price (up from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. Six analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Steel Dynamics presently has an average rating of “Hold” and a consensus target price of $141.13.

Insider Buying and Selling

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the sale, the senior vice president now owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. The trade was a 10.90 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Miguel Alvarez sold 6,650 shares of the company’s stock in a transaction that occurred on Wednesday, November 13th. The shares were 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 $16,723,707. The trade was a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,591 shares of company stock worth $3,885,938 in the last ninety days. 6.10% of the stock is owned by insiders.

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.