Steel Dynamics, Inc. (NASDAQ:STLD) Stock Position Raised by Independent Advisor Alliance

Independent Advisor Alliance lifted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 9.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,619 shares of the basic materials company’s stock after buying an additional 480 shares during the period. Independent Advisor Alliance’s holdings in Steel Dynamics were worth $708,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of STLD. SVB Wealth LLC bought a new position in Steel Dynamics in the 1st quarter worth about $250,000. B. Riley Wealth Advisors Inc. acquired a new stake in Steel Dynamics during the first quarter valued at approximately $337,000. Wahed Invest LLC lifted its stake in Steel Dynamics by 9.4% during the first quarter. Wahed Invest LLC now owns 2,908 shares of the basic materials company’s stock valued at $431,000 after purchasing an additional 249 shares during the last quarter. Swedbank AB acquired a new stake in Steel Dynamics during the first quarter valued at approximately $32,178,000. Finally, Atria Investments Inc lifted its stake in Steel Dynamics by 9.3% during the first quarter. Atria Investments Inc now owns 14,130 shares of the basic materials company’s stock valued at $2,095,000 after purchasing an additional 1,205 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Up 0.1 %

Steel Dynamics stock opened at $143.83 on Thursday. The firm has a market cap of $21.90 billion, a PE ratio of 13.02 and a beta of 1.31. 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 firm’s 50 day moving average price is $133.50 and its two-hundred day moving average price is $127.57. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, beating the consensus estimate 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 net margin of 9.80% and a return on equity of 19.82%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned $3.47 EPS. On average, research analysts predict that Steel Dynamics, Inc. will post 10.1 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm 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. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.28%. Steel Dynamics’s dividend payout ratio (DPR) is 16.65%.

Analysts Set New Price Targets

Several analysts recently commented on STLD shares. Morgan Stanley cut their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 18th. Bank of America raised shares of 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 research note on Tuesday, October 1st. BMO Capital Markets increased their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $144.29.

Insider Transactions at Steel Dynamics

In other news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction on Monday, October 21st. The shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the transaction, the senior vice president now owns 146,693 shares in the company, valued at $19,523,371.37. This represents a 10.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Chad Bickford sold 2,000 shares of the stock in a transaction 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 transaction, the vice president now owns 17,100 shares in the company, 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 have sold a total of 28,591 shares of company stock worth $3,885,938 in the last 90 days. 6.10% of the stock is owned by insiders.

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.