Steel Dynamics, Inc. (NASDAQ:STLD) Stock Holdings Lifted by BTS Asset Management Inc.

BTS Asset Management Inc. lifted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 65.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,881 shares of the basic materials company’s stock after purchasing an additional 1,926 shares during the period. Steel Dynamics comprises 0.6% of BTS Asset Management Inc.’s holdings, making the stock its 10th biggest position. BTS Asset Management Inc.’s holdings in Steel Dynamics were worth $615,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STLD. Larson Financial Group LLC bought a new position in Steel Dynamics in the first quarter worth about $25,000. Innealta Capital LLC purchased a new stake in Steel Dynamics during the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake 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% in the second 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 during the last quarter. Finally, HHM Wealth Advisors LLC acquired a new position in shares of Steel Dynamics during the second quarter worth $52,000. 82.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

STLD has been the topic of several research analyst reports. Morgan Stanley dropped their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 18th. 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 report on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their target price 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. BMO Capital Markets raised their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $144.29.

Steel Dynamics Stock Down 2.4 %

NASDAQ:STLD opened at $128.64 on Thursday. The firm has a market capitalization of $19.85 billion, a P/E ratio of 11.64 and a beta of 1.31. The company’s fifty day moving average price is $121.70 and its 200-day moving average price is $127.03. Steel Dynamics, Inc. has a 1-year low of $98.74 and a 1-year high of $151.34. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.18 billion. During the same period last year, the firm earned $3.47 EPS. The firm’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Steel Dynamics, Inc. will post 10.22 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $0.46 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.43%. Steel Dynamics’s dividend payout ratio is presently 16.65%.

Insider Transactions at Steel Dynamics

In related news, SVP Glenn Pushis sold 17,941 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the transaction, the senior vice president now directly owns 146,693 shares in the company, valued at $19,523,371.37. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate 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.