Steel Dynamics, Inc. $STLD Shares Sold by Mirabella Financial Services LLP

Mirabella Financial Services LLP cut its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 96.8% in the second quarter, HoldingsChannel reports. The fund owned 17,710 shares of the basic materials company’s stock after selling 543,431 shares during the period. Mirabella Financial Services LLP’s holdings in Steel Dynamics were worth $2,277,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its holdings in Steel Dynamics by 25.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company’s stock valued at $883,854,000 after buying an additional 1,437,897 shares in the last quarter. Norges Bank acquired a new position in shares of Steel Dynamics during the second quarter valued at approximately $339,769,000. Nordea Investment Management AB lifted its holdings in Steel Dynamics by 43.3% in the 2nd quarter. Nordea Investment Management AB now owns 2,088,372 shares of the basic materials company’s stock valued at $271,238,000 after purchasing an additional 630,935 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Steel Dynamics by 40.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,675,973 shares of the basic materials company’s stock worth $214,541,000 after buying an additional 484,304 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Steel Dynamics by 3.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,599,076 shares of the basic materials company’s stock worth $200,012,000 after purchasing an additional 52,218 shares during the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STLD has been the subject of several analyst reports. Jefferies Financial Group raised their target price on Steel Dynamics from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Wells Fargo & Company upped their price objective on shares of Steel Dynamics from $169.00 to $172.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Weiss Ratings restated a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday. Citigroup boosted their target price on shares of Steel Dynamics from $150.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, KeyCorp raised their price target on shares of Steel Dynamics from $152.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $170.44.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of the stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total value of $1,343,180.29. Following the sale, 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 document filed with the Securities & Exchange Commission, which is available at this link. 6.30% of the stock is owned by corporate insiders.

Steel Dynamics Trading Down 2.0%

Shares of STLD stock opened at $168.11 on Friday. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $172.94. The firm has a market cap of $24.55 billion, a PE ratio of 22.27, a price-to-earnings-growth ratio of 1.24 and a beta of 1.47. The company has a 50-day moving average of $153.18 and a two-hundred day moving average of $138.56. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.11 and a quick ratio of 1.47.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.11. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter last year, the company posted $2.05 EPS. The firm’s quarterly revenue was up 11.2% on a year-over-year basis. On average, analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Wednesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is currently 26.49%.

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.