Steel Dynamics, Inc. (NASDAQ:STLD) Shares Bought by Advisors Asset Management Inc.

Advisors Asset Management Inc. increased its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 4.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,549 shares of the basic materials company’s stock after purchasing an additional 661 shares during the quarter. Advisors Asset Management Inc.’s holdings in Steel Dynamics were worth $1,834,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of STLD. Commerce Bank lifted its stake in shares of Steel Dynamics by 1.2% in the 3rd quarter. Commerce Bank now owns 5,981 shares of the basic materials company’s stock worth $754,000 after acquiring an additional 73 shares during the period. PNC Financial Services Group Inc. boosted its stake in Steel Dynamics by 3.1% during the third quarter. PNC Financial Services Group Inc. now owns 20,177 shares of the basic materials company’s stock valued at $2,544,000 after buying an additional 604 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Steel Dynamics during the third quarter worth about $2,021,000. Meeder Asset Management Inc. grew its holdings in Steel Dynamics by 10,197.8% during the third quarter. Meeder Asset Management Inc. now owns 9,371 shares of the basic materials company’s stock worth $1,181,000 after acquiring an additional 9,280 shares during the period. Finally, OneAscent Financial Services LLC bought a new stake in Steel Dynamics in the third quarter worth about $570,000. Institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

STLD has been the topic of several recent research reports. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. BMO Capital Markets increased their price objective on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Morgan Stanley reduced 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. Finally, Bank of America raised 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. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Steel Dynamics presently has an average rating of “Hold” and a consensus price target of $144.29.

Steel Dynamics Price Performance

STLD opened at $143.57 on Monday. The firm has a market capitalization of $21.86 billion, a P/E ratio of 12.99 and a beta of 1.31. The stock has a fifty day moving average of $132.24 and a 200-day moving average of $127.44. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. The firm 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 business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period last year, the company posted $3.47 EPS. Equities analysts forecast that Steel Dynamics, Inc. will post 10.1 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

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

Insider Buying and Selling

In related news, SVP Glenn Pushis sold 17,941 shares of the business’s stock in a transaction that occurred on 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 sale, 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 10.90 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Chad Bickford sold 2,000 shares of the firm’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 transaction, the vice president now directly owns 17,100 shares in the company, valued at approximately $2,306,106. The trade was a 10.47 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,591 shares of company stock worth $3,885,938. Corporate insiders own 6.00% of the company’s stock.

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.