Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Fisher Asset Management LLC

Fisher Asset Management LLC lessened its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 7.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 60,836 shares of the basic materials company’s stock after selling 4,588 shares during the period. Fisher Asset Management LLC’s holdings in Steel Dynamics were worth $7,670,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Innealta Capital LLC acquired a new position in Steel Dynamics during the second quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Steel Dynamics during the second quarter worth approximately $41,000. Cullen Frost Bankers Inc. increased its position in Steel Dynamics by 33.3% during 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. HHM Wealth Advisors LLC acquired a new position in Steel Dynamics during the second quarter worth approximately $52,000. Finally, Quest Partners LLC acquired a new position in Steel Dynamics during the third quarter worth approximately $62,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

STLD has been the subject of several research analyst reports. Morgan Stanley dropped their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. 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 note on Friday, October 18th. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $144.29.

Insider Activity at Steel Dynamics

In related news, SVP Richard A. Poinsatte sold 2,000 shares of the company’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the sale, the senior vice president now directly owns 21,101 shares of the company’s stock, valued at $2,927,763.75. This represents a 8.66 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Glenn Pushis sold 17,941 shares of the company’s 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 completion of the sale, the senior vice president now directly owns 146,693 shares in the company, valued at $19,523,371.37. This represents a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,591 shares of company stock valued at $3,885,938 over the last ninety days. Corporate insiders own 6.10% of the company’s stock.

Steel Dynamics Price Performance

Shares of STLD stock opened at $143.83 on Friday. The company has a market capitalization of $21.90 billion, a PE ratio of 13.02 and a beta of 1.31. The firm has a fifty day simple moving average of $134.08 and a 200-day simple moving average of $127.68. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results 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 business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.47 earnings per share. Equities research analysts anticipate that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a $0.46 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 annualized dividend and a yield of 1.28%. Steel Dynamics’s dividend payout ratio is presently 16.65%.

About Steel Dynamics

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.