Verdence Capital Advisors LLC Purchases 127 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Verdence Capital Advisors LLC raised its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.8% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 16,396 shares of the basic materials company’s stock after acquiring an additional 127 shares during the period. Verdence Capital Advisors LLC’s holdings in Steel Dynamics were worth $2,067,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Stiles Financial Services Inc boosted its stake in shares of Steel Dynamics by 5.2% in the 3rd quarter. Stiles Financial Services Inc now owns 19,737 shares of the basic materials company’s stock valued at $2,489,000 after purchasing an additional 984 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in Steel Dynamics in the third quarter worth $227,000. Foster & Motley Inc. boosted its position in Steel Dynamics by 9.4% during the third quarter. Foster & Motley Inc. now owns 32,697 shares of the basic materials company’s stock valued at $4,122,000 after buying an additional 2,812 shares during the period. Asset Management One Co. Ltd. grew its stake in shares of Steel Dynamics by 2.7% during the third quarter. Asset Management One Co. Ltd. now owns 65,516 shares of the basic materials company’s stock valued at $8,260,000 after buying an additional 1,727 shares during the last quarter. Finally, BSW Wealth Partners purchased a new position in shares of Steel Dynamics in the third quarter worth about $317,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Stock Up 0.4 %

Shares of NASDAQ STLD opened at $148.55 on Friday. The firm has a fifty day simple moving average of $126.13 and a two-hundred day simple moving average of $126.75. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $22.92 billion, a PE ratio of 13.44 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same period last year, the business posted $3.47 earnings per share. Steel Dynamics’s quarterly revenue was down 5.4% compared to the same quarter last year. Equities analysts expect that Steel Dynamics, Inc. will post 10.22 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.24%. Steel Dynamics’s dividend payout ratio (DPR) is 16.65%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. Morgan Stanley cut 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 report on Wednesday, September 18th. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. BMO Capital Markets increased 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. Finally, JPMorgan Chase & Co. raised their price target on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $144.29.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at $19,523,371.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related 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 of the company’s stock, valued at $2,306,106. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Glenn Pushis sold 17,941 shares of the business’s stock in a transaction 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 completion of 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 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.