Ashton Thomas Private Wealth LLC Buys 110 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Ashton Thomas Private Wealth LLC lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 4.5% in the third quarter, HoldingsChannel reports. The fund owned 2,531 shares of the basic materials company’s stock after buying an additional 110 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Steel Dynamics were worth $319,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Innealta Capital LLC acquired a new stake in shares of Steel Dynamics during the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new position in Steel Dynamics in the second quarter valued at approximately $41,000. Cullen Frost Bankers Inc. grew 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 acquiring an additional 100 shares during the period. HHM Wealth Advisors LLC bought a new stake in shares of Steel Dynamics during the 2nd quarter valued at $52,000. Finally, Eagle Bay Advisors LLC acquired a new position in shares of Steel Dynamics in the 3rd quarter valued at $64,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Ratings Changes

STLD has been the subject of a number of analyst reports. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. boosted their target price on Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley cut their price target on shares of 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. BMO Capital Markets boosted their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $144.29.

Steel Dynamics Price Performance

NASDAQ STLD opened at $137.81 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. The stock has a market cap of $20.98 billion, a price-to-earnings ratio of 12.47 and a beta of 1.31. The business has a 50 day simple moving average of $128.41 and a 200 day simple moving average of $127.08. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.07. The company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.47 earnings per share. Analysts anticipate that Steel Dynamics, Inc. will post 10.18 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a $0.46 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.34%. Steel Dynamics’s dividend payout ratio (DPR) is 16.65%.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 6,650 shares of the stock in a transaction on 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 in the company, valued at $16,723,707. This trade represents a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Chad Bickford sold 2,000 shares of Steel Dynamics stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $134.86, for a total transaction of $269,720.00. Following the completion of the transaction, the vice president now directly owns 17,100 shares of the company’s stock, valued at approximately $2,306,106. This trade represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,591 shares of company stock valued at $3,608,438 over the last three months. Company insiders own 6.00% of the company’s stock.

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.