Steel Dynamics, Inc. $STLD Shares Sold by Inspire Investing LLC

Key Points

• Inspire Investing cut its Steel Dynamics stake by 21.9% in the third quarter, selling 8,444 shares and retaining 30,087 shares valued at approximately $6.67 million. Institutional investors collectively own 82.41% of the company.
• Analysts maintain a generally positive outlook, with eight Buy ratings and four Holds, producing a consensus “Moderate Buy” rating and an average price target of $259.64.
• Steel Dynamics reported quarterly EPS of $5.26, below the $5.48 consensus estimate, while revenue of $6.51 billion exceeded forecasts and rose 34.8% year over year. The company also declared a quarterly dividend of $0.53 per share, representing a 0.9% annualized yield.

Inspire Investing LLC decreased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 21.9% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 30,087 shares of the basic materials company's stock after selling 8,444 shares during the period. Inspire Investing LLC's holdings in Steel Dynamics were worth $6,668,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. XXI Wealth LLC increased its stake in Steel Dynamics by 14.2% in the third quarter. XXI Wealth LLC now owns 3,545 shares of the basic materials company's stock valued at $786,000 after purchasing an additional 440 shares during the last quarter. Yousif Capital Management LLC lifted its position in Steel Dynamics by 0.9% during the third quarter. Yousif Capital Management LLC now owns 14,803 shares of the basic materials company's stock worth $3,280,000 after buying an additional 128 shares during the period. Root Financial Partners LLC acquired a new stake in Steel Dynamics in the 3rd quarter worth about $110,000. Cantor Fitzgerald Investment Advisors L.P. acquired a new stake in Steel Dynamics in the 3rd quarter worth about $1,330,000. Finally, Sage Private Wealth Group LLC boosted its stake in Steel Dynamics by 8.6% in the 3rd quarter. Sage Private Wealth Group LLC now owns 1,268 shares of the basic materials company's stock worth $281,000 after buying an additional 100 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. The Goldman Sachs Group reaffirmed a "buy" rating and set a $299.00 price objective on shares of Steel Dynamics in a research note on Tuesday. UBS Group raised their target price on shares of Steel Dynamics from $165.00 to $276.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. JPMorgan Chase & Co. decreased their target price on shares of Steel Dynamics from $272.00 to $260.00 and set a "neutral" rating on the stock in a research report on Friday, October 9th. Wells Fargo & Company boosted their target price on shares of Steel Dynamics from $257.00 to $271.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Wall Street Zen lowered shares of Steel Dynamics from a "strong-buy" rating to a "buy" rating in a research report on Sunday, September 20th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $259.64.

Steel Dynamics Price Performance

Shares of Steel Dynamics stock opened at $241.53 on Friday. The business's fifty day moving average price is $237.13 and its 200 day moving average price is $238.46. Steel Dynamics, Inc. has a twelve month low of $150.03 and a twelve month high of $288.74. The company has a current ratio of 3.14, a quick ratio of 1.45 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $34.62 billion, a P/E ratio of 17.83, a PEG ratio of 0.34 and a beta of 1.48.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results on Monday, October 19th. The basic materials company reported $5.26 EPS for the quarter, missing the consensus estimate of $5.48 by ($0.22). The firm had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.43 billion. Steel Dynamics had a return on equity of 21.57% and a net margin of 8.82%. The business's revenue was up 34.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.74 earnings per share. As a group, research analysts anticipate that Steel Dynamics, Inc. will post 18.13 earnings per share for the current year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 9th. Investors of record on Wednesday, September 30th were issued a $0.53 dividend. The ex-dividend date was Wednesday, September 30th. This represents a $2.12 annualized dividend and a yield of 0.9%. Steel Dynamics's dividend payout ratio (DPR) is presently 15.65%.

About Steel Dynamics

Steel Dynamics, Inc is a steel producer and metals recycler headquartered in Fort Wayne, Indiana. The company manufactures steel products using electric arc furnace technology and serves customers across industries such as construction, automotive, manufacturing, and energy.

Its operations include the production of flat rolled steel, long steel products, structural steel, rail, and specialty products. Steel Dynamics also provides steel processing and fabrication services, including the manufacture of steel joists, deck systems, and other components used in commercial and industrial construction.

The company operates metals recycling facilities that collect, process, and supply ferrous and nonferrous scrap to support its steelmaking operations.

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