Harbour Investments Inc. Sells 81 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Harbour Investments Inc. trimmed its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,308 shares of the basic materials company’s stock after selling 81 shares during the period. Harbour Investments Inc.’s holdings in Steel Dynamics were worth $1,047,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Innealta Capital LLC bought a new position in Steel Dynamics during the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Steel Dynamics during the 2nd quarter valued at about $41,000. Cullen Frost Bankers Inc. lifted its holdings in Steel Dynamics by 33.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock valued at $52,000 after buying an additional 100 shares in the last quarter. HHM Wealth Advisors LLC bought a new stake in shares of Steel Dynamics in the 2nd quarter valued at about $52,000. Finally, Eagle Bay Advisors LLC bought a new stake in shares of Steel Dynamics in the 3rd quarter valued at about $64,000. 82.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the business’s stock in a transaction 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 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 10.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Chad Bickford sold 2,000 shares of the business’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 sale, the vice president now owns 17,100 shares of the company’s stock, 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. Insiders have sold a total of 26,591 shares of company stock valued at $3,608,438 in the last three months. Company insiders own 6.00% of the company’s stock.

Steel Dynamics Price Performance

NASDAQ:STLD opened at $137.81 on Friday. The business’s 50-day moving average price is $128.41 and its 200 day moving average price is $127.08. The firm has a market cap of $20.98 billion, a P/E ratio of 12.47 and a beta of 1.31. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week 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.

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. As a group, sell-side analysts predict that Steel Dynamics, Inc. will post 10.18 earnings per share 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 given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.34%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is currently 16.65%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on STLD. JPMorgan Chase & Co. upped their price objective on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Morgan Stanley dropped their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. BMO Capital Markets upped their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. 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 stock presently has an average rating of “Hold” and a consensus price target 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.