1,922 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Acquired by Banco Santander S.A.

Banco Santander S.A. purchased a new position in Steel Dynamics, Inc. (NASDAQ:STLD) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,922 shares of the basic materials company’s stock, valued at approximately $242,000.

A number of other large investors have also modified their holdings of the stock. Innealta Capital LLC purchased a new position in Steel Dynamics in the second quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Steel Dynamics in the second quarter valued at $41,000. Cullen Frost Bankers Inc. raised its stake in Steel Dynamics by 33.3% in the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock valued at $52,000 after buying an additional 100 shares in the last quarter. HHM Wealth Advisors LLC purchased a new stake in Steel Dynamics during the 2nd quarter worth about $52,000. Finally, Quest Partners LLC purchased a new stake in Steel Dynamics during the 3rd quarter worth about $62,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Buying and Selling

In related news, SVP Miguel Alvarez sold 6,650 shares of the stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the transaction, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at $16,723,707. This represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Chad Bickford sold 2,000 shares of Steel Dynamics stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the sale, the vice president now directly owns 17,100 shares in the company, valued at $2,306,106. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,591 shares of company stock valued at $3,885,938 over the last three months. 6.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

Steel Dynamics Stock Down 1.0 %

Shares of NASDAQ:STLD opened at $143.57 on Friday. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. The stock has a market cap of $21.86 billion, a P/E ratio of 12.99 and a beta of 1.31. The firm has a fifty day moving average price of $132.24 and a 200 day moving average price of $127.46.

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

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid 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 dividend payout ratio (DPR) 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.