Steel Dynamics, Inc. (NASDAQ:STLD) Shares Acquired by Prime Capital Investment Advisors LLC

Prime Capital Investment Advisors LLC increased its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 2.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,041 shares of the basic materials company’s stock after acquiring an additional 99 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Steel Dynamics were worth $636,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in STLD. Ashton Thomas Private Wealth LLC raised its stake in shares of Steel Dynamics by 4.5% in the third quarter. Ashton Thomas Private Wealth LLC now owns 2,531 shares of the basic materials company’s stock worth $319,000 after purchasing an additional 110 shares during the last quarter. Entropy Technologies LP raised its holdings in shares of Steel Dynamics by 52.1% during the third quarter. Entropy Technologies LP now owns 17,395 shares of the basic materials company’s stock worth $2,193,000 after purchasing an additional 5,958 shares during the last quarter. Laffer Tengler Investments Inc. lifted its position in Steel Dynamics by 2.0% during the third quarter. Laffer Tengler Investments Inc. now owns 52,657 shares of the basic materials company’s stock valued at $6,639,000 after purchasing an additional 1,050 shares during the period. Addison Advisors LLC purchased a new stake in Steel Dynamics in the third quarter valued at $82,000. Finally, Covestor Ltd grew its position in Steel Dynamics by 10.8% during the 3rd quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock worth $120,000 after purchasing an additional 93 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on STLD. JPMorgan Chase & Co. boosted their price objective on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a report on Friday, October 18th. BMO Capital Markets boosted their price target on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. UBS Group raised shares of 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 note on Tuesday, September 3rd. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. Finally, Morgan Stanley dropped their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock 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 stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $144.29.

Insider Activity

In related news, SVP Miguel Alvarez sold 6,650 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the sale, the senior vice president now owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. This represents a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Glenn Pushis sold 17,941 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,591 shares of company stock worth $3,608,438 over the last ninety days. Corporate insiders own 6.00% of the company’s stock.

Steel Dynamics Stock Up 1.2 %

NASDAQ STLD opened at $139.41 on Friday. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. The business has a fifty day moving average price of $128.98 and a 200 day moving average price of $127.11. The company has a market cap of $21.22 billion, a P/E ratio of 12.62 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS 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 analysts’ expectations of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.47 earnings per share. Research analysts anticipate that Steel Dynamics, Inc. will post 10.1 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is currently 16.65%.

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.