Steel Dynamics, Inc. (NASDAQ:STLD) Stake Boosted by Harbor Capital Advisors Inc.

Harbor Capital Advisors Inc. increased its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 3.9% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,650 shares of the basic materials company’s stock after purchasing an additional 248 shares during the quarter. Harbor Capital Advisors Inc.’s holdings in Steel Dynamics were worth $838,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. SG Americas Securities LLC increased its stake in Steel Dynamics by 1,498.4% in the 1st quarter. SG Americas Securities LLC now owns 29,730 shares of the basic materials company’s stock worth $4,407,000 after purchasing an additional 27,870 shares in the last quarter. Trustmark National Bank Trust Department increased its stake in Steel Dynamics by 126.6% in the 1st quarter. Trustmark National Bank Trust Department now owns 7,134 shares of the basic materials company’s stock worth $1,057,000 after purchasing an additional 3,986 shares in the last quarter. Bessemer Group Inc. increased its stake in Steel Dynamics by 2,679.3% in the 1st quarter. Bessemer Group Inc. now owns 10,867 shares of the basic materials company’s stock worth $1,611,000 after purchasing an additional 10,476 shares in the last quarter. LBP AM SA increased its stake in Steel Dynamics by 26.5% in the 1st quarter. LBP AM SA now owns 21,966 shares of the basic materials company’s stock worth $3,256,000 after purchasing an additional 4,599 shares in the last quarter. Finally, M&G Plc acquired a new stake in Steel Dynamics during the 1st quarter worth about $9,478,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Activity

In other news, SVP Glenn Pushis sold 17,941 shares of the business’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 transaction of $2,387,767.69. Following the sale, the senior vice president now directly owns 146,693 shares in the company, valued at approximately $19,523,371.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the company’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 sale, the senior vice president now directly owns 146,693 shares in the company, valued at $19,523,371.37. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Chad Bickford sold 2,000 shares of the company’s stock in a transaction 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 owns 17,100 shares in the company, valued at $2,306,106. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

STLD has been the subject of a number of research reports. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Morgan Stanley reduced their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. BMO Capital Markets lifted their price target on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, JPMorgan Chase & Co. boosted their target price on Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, Steel Dynamics currently has an average rating of “Hold” and a consensus price target of $144.29.

Steel Dynamics Stock Up 13.8 %

STLD opened at $154.32 on Thursday. 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 business has a 50 day moving average price of $124.24 and a 200 day moving average price of $126.38. The firm has a market cap of $23.81 billion, a P/E ratio of 14.00 and a beta of 1.31. 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 (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. The business had revenue of $4.34 billion for 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%. Steel Dynamics’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the business posted $3.47 earnings per share. Research analysts forecast that Steel Dynamics, Inc. will post 10.22 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.19%. The ex-dividend date of this dividend was Monday, September 30th. Steel Dynamics’s dividend payout ratio is presently 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.