Steel Dynamics, Inc. (NASDAQ:STLD) Position Cut by Gulf International Bank UK Ltd

Gulf International Bank UK Ltd trimmed its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 5.5% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 11,226 shares of the basic materials company’s stock after selling 650 shares during the period. Gulf International Bank UK Ltd’s holdings in Steel Dynamics were worth $1,415,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Atomi Financial Group Inc. grew its holdings in shares of Steel Dynamics by 3.1% in the 1st quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company’s stock valued at $395,000 after buying an additional 79 shares during the period. Csenge Advisory Group boosted its stake in shares of Steel Dynamics by 2.8% during the 2nd quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock worth $381,000 after buying an additional 81 shares during the last quarter. Dorsey Wright & Associates raised its holdings in shares of Steel Dynamics by 0.4% in the 2nd quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock valued at $3,050,000 after purchasing an additional 96 shares during the period. Greenleaf Trust raised its holdings in Steel Dynamics by 2.1% in the 3rd quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock valued at $583,000 after acquiring an additional 96 shares during the period. Finally, Stiles Financial Services Inc raised its holdings in Steel Dynamics by 0.5% in the 2nd quarter. Stiles Financial Services Inc now owns 18,753 shares of the basic materials company’s stock valued at $2,429,000 after acquiring an additional 99 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Trading Down 4.1 %

STLD opened at $147.95 on Friday. The business has a 50 day simple moving average of $125.55 and a two-hundred day simple moving average of $126.72. The firm has a market capitalization of $22.83 billion, a price-to-earnings ratio of 13.39 and a beta of 1.31. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results 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. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.47 EPS. Analysts predict that Steel Dynamics, Inc. will post 10.22 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.84 annualized dividend and a dividend yield of 1.24%. Steel Dynamics’s payout ratio is 16.65%.

Analysts Set New Price Targets

Several analysts recently issued reports on STLD shares. BMO Capital Markets increased their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. JPMorgan Chase & Co. upped their price target on Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. Finally, Morgan Stanley decreased their price target on 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. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Steel Dynamics currently has a consensus rating of “Hold” and a consensus target price of $144.29.

Insider Activity

In related news, VP Chad Bickford sold 2,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the transaction, the vice president now directly owns 17,100 shares of the company’s stock, valued at approximately $2,306,106. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction dated 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 completion of the transaction, the senior vice president now 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 legal filing with the SEC, which is accessible through this hyperlink. Also, VP Chad Bickford sold 2,000 shares of Steel Dynamics stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the transaction, the vice president now owns 17,100 shares of the company’s stock, valued at approximately $2,306,106. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Steel Dynamics Company 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.