Mirabella Financial Services LLP Trims Holdings in Steel Dynamics, Inc. $STLD

Mirabella Financial Services LLP reduced its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 96.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,710 shares of the basic materials company's stock after selling 543,431 shares during the quarter. Mirabella Financial Services LLP's holdings in Steel Dynamics were worth $2,277,000 at the end of the most recent quarter.

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A number of other hedge funds have also recently made changes to their positions in STLD. Allworth Financial LP increased its holdings in Steel Dynamics by 119.3% during the second quarter. Allworth Financial LP now owns 11,012 shares of the basic materials company's stock valued at $1,410,000 after buying an additional 5,991 shares during the period. Nomura Asset Management Co. Ltd. boosted its position in Steel Dynamics by 21.9% during the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 88,558 shares of the basic materials company's stock valued at $11,336,000 after acquiring an additional 15,931 shares in the last quarter. Nordea Investment Management AB increased its holdings in shares of 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 acquiring an additional 630,935 shares during the period. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Steel Dynamics by 1.2% in the 2nd quarter. Mitsubishi UFJ Trust & Banking Corp now owns 163,399 shares of the basic materials company's stock worth $20,917,000 after acquiring an additional 1,954 shares in the last quarter. Finally, Korea Investment CORP lifted its stake in shares of Steel Dynamics by 17.7% during the 2nd quarter. Korea Investment CORP now owns 133,975 shares of the basic materials company's stock worth $17,150,000 after purchasing an additional 20,135 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have issued reports on STLD shares. Weiss Ratings reiterated a "hold (c+)" rating on shares of Steel Dynamics in a research note on Monday. The Goldman Sachs Group set a $172.00 price objective on shares of Steel Dynamics and gave the stock a "neutral" rating in a research report on Friday, October 31st. JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $150.00 to $160.00 and gave the company a "neutral" rating in a research report on Monday, October 13th. Wells Fargo & Company lifted their price target on shares of Steel Dynamics from $169.00 to $172.00 and gave the stock an "overweight" rating in a report on Friday, November 14th. Finally, Morgan Stanley upped their price target on Steel Dynamics from $145.00 to $173.00 and gave the stock an "overweight" rating in a research report on Friday, October 24th. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $170.44.

• Steel Dynamics Stock Steady on Long-Term Prospects

View Our Latest Report on STLD

Insider Buying and Selling

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of Steel Dynamics stock in a transaction that occurred on Wednesday, October 29th. The shares were 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 in the company, valued at approximately $19,057,499.72. The trade was a 6.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 6.30% of the company's stock.

Steel Dynamics Trading Down 2.0%

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NASDAQ:STLD opened at $168.11 on Friday. The company has a market capitalization of $24.55 billion, a P/E ratio of 22.27, a PEG ratio of 1.24 and a beta of 1.47. The company has a current ratio of 3.11, a quick ratio of 1.47 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $172.94. The firm has a fifty day simple moving average of $153.18 and a 200-day simple moving average of $138.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings results on Tuesday, October 21st. The basic materials company reported $2.74 EPS for the quarter, topping analysts' consensus estimates of $2.63 by $0.11. The company had revenue of $4.83 billion during the quarter, compared to analysts' expectations of $4.74 billion. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.The firm's revenue was up 11.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.05 EPS. On average, equities research analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share 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 dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. Steel Dynamics's dividend payout ratio (DPR) is currently 26.49%.

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.

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