Steel Dynamics, Inc. $STLD Shares Sold by Voya Investment Management LLC

Voya Investment Management LLC cut its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 29.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 31,282 shares of the basic materials company’s stock after selling 13,018 shares during the quarter. Voya Investment Management LLC’s holdings in Steel Dynamics were worth $4,362,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Czech National Bank boosted its position in shares of Steel Dynamics by 4.1% during the third quarter. Czech National Bank now owns 35,144 shares of the basic materials company’s stock worth $4,900,000 after buying an additional 1,397 shares during the period. TradeWell Securities LLC. increased its position in Steel Dynamics by 157.8% in the 2nd quarter. TradeWell Securities LLC. now owns 6,254 shares of the basic materials company’s stock valued at $801,000 after acquiring an additional 3,828 shares during the period. Valeo Financial Advisors LLC raised its stake in Steel Dynamics by 118.4% during the 2nd quarter. Valeo Financial Advisors LLC now owns 12,419 shares of the basic materials company’s stock valued at $1,590,000 after acquiring an additional 6,732 shares in the last quarter. Osaic Holdings Inc. boosted its position in Steel Dynamics by 129.1% during the 2nd quarter. Osaic Holdings Inc. now owns 73,108 shares of the basic materials company’s stock worth $9,242,000 after acquiring an additional 41,203 shares during the period. Finally, Pathway Financial Advisers LLC grew its stake in shares of Steel Dynamics by 0.7% in the second quarter. Pathway Financial Advisers LLC now owns 45,136 shares of the basic materials company’s stock worth $5,778,000 after purchasing an additional 308 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of STLD opened at $175.06 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.11 and a quick ratio of 1.47. The firm’s 50 day moving average is $161.71 and its 200-day moving average is $142.83. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $178.36. The stock has a market capitalization of $25.57 billion, a P/E ratio of 23.19, a P/E/G ratio of 1.19 and a beta of 1.47.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results 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. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The firm’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period last year, the firm posted $2.05 earnings per share. Equities research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Wednesday, December 31st. Steel Dynamics’s payout ratio is presently 26.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. KeyCorp lifted their price objective on shares of Steel Dynamics from $152.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Citigroup boosted their price target on shares of Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. BMO Capital Markets upped their price target on shares of Steel Dynamics from $155.00 to $167.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. The Goldman Sachs Group set a $172.00 price objective on shares of Steel Dynamics and gave the company a “neutral” rating in a research note on Friday, October 31st. Finally, Morgan Stanley boosted their target price on Steel Dynamics from $145.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $176.89.

Insider Activity

In other news, SVP Miguel Alvarez sold 8,251 shares of the company’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the completion of the sale, the senior vice president directly owned 117,068 shares of the company’s stock, valued at $19,057,499.72. This represents a 6.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 6.30% of the stock is owned by company insiders.

Steel Dynamics Profile

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.