Blue Trust Inc. Increases Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Blue Trust Inc. boosted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 85.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,644 shares of the basic materials company’s stock after buying an additional 1,679 shares during the quarter. Blue Trust Inc.’s holdings in Steel Dynamics were worth $472,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Park Avenue Securities LLC lifted its position in shares of Steel Dynamics by 11.1% during the first quarter. Park Avenue Securities LLC now owns 3,874 shares of the basic materials company’s stock valued at $574,000 after buying an additional 386 shares during the last quarter. Ballentine Partners LLC purchased a new stake in Steel Dynamics during the first quarter valued at approximately $227,000. Riverview Trust Co acquired a new stake in Steel Dynamics in the first quarter valued at approximately $50,000. Elevated Capital Advisors LLC grew its holdings in Steel Dynamics by 5.3% in the first quarter. Elevated Capital Advisors LLC now owns 2,870 shares of the basic materials company’s stock worth $425,000 after purchasing an additional 144 shares during the last quarter. Finally, Brookstone Capital Management increased its position in shares of Steel Dynamics by 4.1% during the first quarter. Brookstone Capital Management now owns 2,740 shares of the basic materials company’s stock worth $406,000 after purchasing an additional 109 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Down 1.2 %

Shares of Steel Dynamics stock opened at $131.80 on Wednesday. The stock has a market cap of $20.34 billion, a PE ratio of 11.93 and a beta of 1.31. The firm has a fifty day moving average price of $121.14 and a 200 day moving average price of $127.13. Steel Dynamics, Inc. has a 1 year low of $98.32 and a 1 year high of $151.34. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.19.

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 analysts’ consensus estimates of $1.98 by $0.07. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The company’s revenue was down 5.4% on a year-over-year basis. During the same quarter last year, the business posted $3.47 EPS. Equities research analysts predict that Steel Dynamics, Inc. will post 10.12 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.40%. The ex-dividend date of this dividend was Monday, September 30th. Steel Dynamics’s dividend payout ratio is currently 16.65%.

Analysts Set New Price Targets

STLD has been the subject of a number of recent analyst reports. UBS Group raised 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. BMO Capital Markets boosted their price target on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. increased their price objective 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. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Finally, Morgan Stanley lowered their price objective 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. Four 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 has an average rating of “Hold” and an average target price of $144.29.

Insider Buying and Selling

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics 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 transaction, the senior vice president now owns 146,693 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through this link. 6.00% of the stock is currently 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.