Steel Dynamics, Inc. $STLD Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans reduced its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 10.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,403,570 shares of the basic materials company's stock after selling 156,417 shares during the period. Thrivent Financial for Lutherans owned approximately 0.95% of Steel Dynamics worth $179,671,000 at the end of the most recent quarter.Get Steel Dynamics alerts:3 Discounted Steel Stocks You Can DCA Into TodayOther hedge funds also recently bought and sold shares of the company. Pathway Financial Advisers LLC raised its stake in shares of Steel Dynamics by 0.7% in the 2nd quarter. Pathway Financial Advisers LLC now owns 45,136 shares of the basic materials company's stock valued at $5,778,000 after acquiring an additional 308 shares during the period. Monarch Capital Management Inc. increased its holdings in Steel Dynamics by 2.6% in the 2nd quarter. Monarch Capital Management Inc. now owns 31,481 shares of the basic materials company's stock valued at $4,041,000 after purchasing an additional 803 shares during the last quarter. Advisory Services Network LLC raised its position in Steel Dynamics by 35.2% in the second quarter. Advisory Services Network LLC now owns 58,186 shares of the basic materials company's stock valued at $7,422,000 after purchasing an additional 15,155 shares during the period. Delos Wealth Advisors LLC acquired a new position in Steel Dynamics during the second quarter worth $121,000. Finally, CYBER HORNET ETFs LLC acquired a new position in Steel Dynamics during the second quarter worth $50,000. Hedge funds and other institutional investors own 82.41% of the company's stock. Steel Dynamics Trading Down 0.6%NASDAQ:STLD opened at $171.97 on Friday. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $174.31. The stock has a market cap of $25.11 billion, a P/E ratio of 22.78, a P/E/G ratio of 1.25 and a beta of 1.47. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.47 and a current ratio of 3.11. The stock has a 50-day simple moving average of $156.48 and a 200-day simple moving average of $140.22. Steel Dynamics Stock Steady on Long-Term ProspectsSteel Dynamics (NASDAQ:STLD - Get Free Report) last posted its earnings results on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share for the quarter, topping the consensus estimate 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 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 business earned $2.05 earnings per share. As a group, analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year. Steel Dynamics Announces DividendThe business also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be issued a $0.50 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. Steel Dynamics's dividend payout ratio is presently 26.49%. Insider ActivityTop Steel Picks for the Coming Infrastructure BoomIn related news, SVP Miguel Alvarez sold 8,251 shares of the stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total value of $1,343,180.29. Following the transaction, the senior vice president directly 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 filing with the SEC, which is accessible through the SEC website. Insiders own 6.30% of the company's stock. Analyst Upgrades and DowngradesSeveral equities research analysts recently issued reports on STLD shares. JPMorgan Chase & Co. boosted their price objective on Steel Dynamics from $165.00 to $190.00 and gave the company a "neutral" rating in a report on Friday, December 5th. UBS Group set a $165.00 target price on shares of Steel Dynamics in a report on Tuesday, November 4th. Morgan Stanley boosted their price target on shares of Steel Dynamics from $145.00 to $173.00 and gave the stock an "overweight" rating in a research note on Friday, October 24th. The Goldman Sachs Group set a $172.00 price objective on Steel Dynamics and gave the company a "neutral" rating in a research note on Friday, October 31st. Finally, BMO Capital Markets boosted their target price on Steel Dynamics from $155.00 to $167.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 22nd. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $174.89.Get Our Latest Report on STLDAbout Steel Dynamics (Free Report)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.See AlsoFive stocks we like better than Steel DynamicsHigh Dividend REITs: Are They an Ideal Way to Diversify?Disney's $1 Billion Deal Brings Its Magic to OpenAIWhat Investors Must Know About Over-the-Counter (OTC) StocksWhy Amazon Could Be a $300 Stock Within WeeksTSX Venture Exchange (Formerly Canadian Venture Exchange)Adobe Gets Post-Earnings Lift: Long-Term Outlook Favors UpsideWant to see what other hedge funds are holding STLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Steel Dynamics, Inc. (NASDAQ:STLD - Free Report).This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.Should You Invest $1,000 in Steel Dynamics Right Now?Before you consider Steel Dynamics, you'll want to hear this.MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Steel Dynamics wasn't on the list.While Steel Dynamics currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.View The Five Stocks Here