OLD National Bancorp IN Decreases Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

OLD National Bancorp IN lowered its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 2.3% during the 4th quarter, HoldingsChannel reports. The firm owned 10,083 shares of the basic materials company’s stock after selling 238 shares during the period. OLD National Bancorp IN’s holdings in Steel Dynamics were worth $1,150,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the stock. Harbour Capital Advisors LLC boosted its stake in shares of Steel Dynamics by 133.7% in the 4th quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company’s stock worth $1,301,000 after buying an additional 6,579 shares during the last quarter. Oak Thistle LLC bought a new position in Steel Dynamics in the fourth quarter valued at about $1,725,000. Larson Financial Group LLC boosted its position in Steel Dynamics by 9,465.5% in the third quarter. Larson Financial Group LLC now owns 18,844 shares of the basic materials company’s stock worth $2,376,000 after purchasing an additional 18,647 shares during the last quarter. Nordea Investment Management AB grew its stake in shares of Steel Dynamics by 22.4% during the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock valued at $158,487,000 after purchasing an additional 253,802 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Steel Dynamics by 9.1% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 27,373 shares of the basic materials company’s stock valued at $3,123,000 after purchasing an additional 2,287 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Richard A. Poinsatte sold 2,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $138.75, for a total transaction of $277,500.00. Following the sale, the senior vice president now directly owns 21,101 shares of the company’s stock, valued at $2,927,763.75. This represents a 8.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Miguel Alvarez sold 6,650 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 116,949 shares of the company’s stock, 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. 6.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on STLD shares. Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and raised their price objective for the stock from $125.00 to $145.00 in a report on Friday, January 24th. Citigroup dropped their price target on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. BMO Capital Markets upped their price objective on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. The Goldman Sachs Group began coverage on Steel Dynamics in a report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price target for the company. Finally, UBS Group restated a “neutral” rating and issued a $149.00 price target (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $143.38.

Steel Dynamics Price Performance

Shares of Steel Dynamics stock opened at $128.20 on Friday. The company has a market capitalization of $19.52 billion, a price-to-earnings ratio of 13.08 and a beta of 1.36. 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 stock’s 50-day simple moving average is $125.73 and its 200-day simple moving average is $126.33. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56.

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

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.44%. Steel Dynamics’s dividend payout ratio is 18.78%.

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.