Bleakley Financial Group LLC Sells 106 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Bleakley Financial Group LLC lessened its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 3.5% in the third quarter, HoldingsChannel.com reports. The fund owned 2,947 shares of the basic materials company’s stock after selling 106 shares during the period. Bleakley Financial Group LLC’s holdings in Steel Dynamics were worth $372,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in STLD. Price T Rowe Associates Inc. MD lifted its stake in Steel Dynamics by 4.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock valued at $534,295,000 after purchasing an additional 152,254 shares during the last quarter. Pacer Advisors Inc. lifted its stake in Steel Dynamics by 7.0% in the 2nd quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company’s stock valued at $276,891,000 after purchasing an additional 140,042 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in Steel Dynamics by 1.3% in the 2nd quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company’s stock valued at $228,999,000 after purchasing an additional 22,390 shares during the last quarter. LSV Asset Management lifted its stake in Steel Dynamics by 3.9% in the 2nd quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company’s stock valued at $182,604,000 after purchasing an additional 53,532 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its stake in Steel Dynamics by 21.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock valued at $168,550,000 after purchasing an additional 202,312 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Down 1.2 %

STLD opened at $131.80 on Wednesday. Steel Dynamics, Inc. has a twelve month low of $98.32 and a twelve month high of $151.34. The company has a quick ratio of 1.19, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average of $121.14 and a 200-day moving average of $127.13. The stock has a market cap of $20.34 billion, a PE ratio of 11.93 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data 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 net margin of 9.80% and a return on equity of 19.82%. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same period in the prior year, the company posted $3.47 earnings per share. Steel Dynamics’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, sell-side analysts predict that Steel Dynamics, Inc. will post 10.12 EPS for the current year.

Steel Dynamics Dividend Announcement

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 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Monday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 16.65%.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the firm’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 sale, the senior vice president now directly owns 146,693 shares in the company, valued at approximately $19,523,371.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. raised their price target on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. 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 note on Wednesday, September 18th. Finally, BMO Capital Markets raised 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 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. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $144.29.

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.