BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Has $3.14 Million Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp reduced its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 13.4% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 24,910 shares of the basic materials company’s stock after selling 3,870 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Steel Dynamics were worth $3,141,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Innealta Capital LLC bought a new stake in Steel Dynamics during the 2nd quarter worth approximately $33,000. Private Trust Co. NA increased its position in shares of Steel Dynamics by 532.6% during the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 245 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Steel Dynamics during the second quarter worth $41,000. Cullen Frost Bankers Inc. increased its holdings in Steel Dynamics by 33.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 100 shares in the last quarter. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Steel Dynamics in the 2nd quarter valued at about $52,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Transactions at Steel Dynamics

In other news, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the sale, the senior vice president now owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Richard A. Poinsatte sold 2,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $138.75, for a total transaction of $277,500.00. Following the transaction, the senior vice president now directly owns 21,101 shares in the company, valued at approximately $2,927,763.75. This represents a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 28,591 shares of company stock worth $3,885,938. 6.10% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on STLD. 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 report on Friday, October 18th. JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a report on Friday, October 18th. The Goldman Sachs Group began coverage on Steel Dynamics in a report on Monday. They set a “neutral” rating and a $155.00 target price on the stock. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price target for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Finally, Morgan Stanley lowered their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, Steel Dynamics has an average rating of “Hold” and a consensus price target of $145.63.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $143.20 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average price is $135.54 and its two-hundred day moving average price is $127.82. The company has a market cap of $21.80 billion, a PE ratio of 12.91 and a beta of 1.31. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same period in the previous year, the firm earned $3.47 EPS. The firm’s revenue was down 5.4% compared to the same quarter last year. On average, analysts predict that Steel Dynamics, Inc. will post 10.1 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics’s payout ratio is presently 16.65%.

Steel Dynamics Company 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.