4,462 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Purchased by FORA Capital LLC

FORA Capital LLC bought a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,462 shares of the basic materials company’s stock, valued at approximately $563,000.

A number of other institutional investors have also recently made changes to their positions in the stock. B. Riley Wealth Advisors Inc. purchased a new stake in Steel Dynamics in the first quarter worth approximately $337,000. Swedbank AB purchased a new position in shares of Steel Dynamics in the 1st quarter worth $32,178,000. Atria Investments Inc grew its holdings in shares of Steel Dynamics by 9.3% in the first quarter. Atria Investments Inc now owns 14,130 shares of the basic materials company’s stock worth $2,095,000 after acquiring an additional 1,205 shares during the period. Cetera Investment Advisers increased its position in Steel Dynamics by 172.2% during the first quarter. Cetera Investment Advisers now owns 24,220 shares of the basic materials company’s stock valued at $3,590,000 after acquiring an additional 15,321 shares during the last quarter. Finally, Cetera Advisors LLC lifted its holdings in Steel Dynamics by 189.9% in the first quarter. Cetera Advisors LLC now owns 9,273 shares of the basic materials company’s stock valued at $1,375,000 after acquiring an additional 6,074 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Activity

In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was 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 owns 17,100 shares in the company, valued at $2,306,106. This trade represents a 10.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the sale, the senior vice president now directly owns 146,693 shares in the company, valued at $19,523,371.37. This trade represents a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,591 shares of company stock worth $3,885,938 over the last quarter. Insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on STLD. BMO Capital Markets upped their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. increased their price target on shares of 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 objective on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. Finally, UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their target price for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $144.29.

Steel Dynamics Trading Up 0.1 %

Shares of Steel Dynamics stock opened at $143.83 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 company has a fifty day moving average of $134.08 and a 200 day moving average of $127.68. The company has a market capitalization of $21.90 billion, a P/E ratio of 13.02 and a beta of 1.31. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last released its earnings results 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 firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the business posted $3.47 earnings per share. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

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 dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.28%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s payout ratio is currently 16.65%.

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.