Steel Dynamics, Inc. (NASDAQ:STLD) Shares Acquired by Farther Finance Advisors LLC

Farther Finance Advisors LLC lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 11.4% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,609 shares of the basic materials company’s stock after acquiring an additional 165 shares during the quarter. Farther Finance Advisors LLC’s holdings in Steel Dynamics were worth $203,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of STLD. Atomi Financial Group Inc. lifted its holdings in shares of Steel Dynamics by 3.1% during 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 last quarter. Csenge Advisory Group lifted its holdings in shares of Steel Dynamics by 2.8% during the second quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock valued at $381,000 after acquiring an additional 81 shares during the period. Dorsey Wright & Associates increased its holdings in shares of Steel Dynamics by 0.4% during the second quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock worth $3,050,000 after buying an additional 96 shares in the last quarter. Greenleaf Trust boosted its stake in Steel Dynamics by 2.1% in the third quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock worth $583,000 after purchasing an additional 96 shares in the last quarter. Finally, Stiles Financial Services Inc grew its stake in shares of Steel Dynamics by 0.5% during the second quarter. Stiles Financial Services Inc now owns 18,753 shares of the basic materials company’s stock valued at $2,429,000 after purchasing an additional 99 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Trading Up 0.4 %

Shares of STLD stock opened at $148.55 on Friday. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $22.92 billion, a P/E ratio of 13.44 and a beta of 1.31. The stock’s fifty day simple moving average is $126.13 and its 200 day simple moving average is $126.75.

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 return on equity of 19.82% and a net margin of 9.80%. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same period last year, the company posted $3.47 EPS. The business’s quarterly revenue was down 5.4% on a year-over-year basis. As a group, sell-side analysts predict that Steel Dynamics, Inc. will post 10.22 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.24%. Steel Dynamics’s dividend payout ratio (DPR) is presently 16.65%.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of the company’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 completion of the transaction, the vice president now owns 17,100 shares in the company, valued at $2,306,106. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, VP Chad Bickford sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $134.86, for a total transaction of $269,720.00. Following the sale, the vice president now directly owns 17,100 shares in the company, valued at approximately $2,306,106. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Glenn Pushis sold 17,941 shares of the 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 sale, the senior vice president now directly owns 146,693 shares in the company, valued at $19,523,371.37. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently commented on STLD. Morgan Stanley decreased their price objective on 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. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. raised their target price 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. Bank of America upgraded 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 report on Tuesday, October 1st. Finally, BMO Capital Markets lifted 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 report on Friday, October 18th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $144.29.

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.