Smith Group Asset Management LLC Purchases New Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Smith Group Asset Management LLC purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,000 shares of the basic materials company’s stock, valued at approximately $684,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Wilmington Savings Fund Society FSB purchased a new stake in shares of Steel Dynamics in the 3rd quarter worth $25,000. ORG Wealth Partners LLC purchased a new stake in shares of Steel Dynamics during the fourth quarter valued at about $28,000. Private Trust Co. NA lifted its position in Steel Dynamics by 532.6% during the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 245 shares during the last quarter. Brooklyn Investment Group acquired a new stake in shares of Steel Dynamics in the 3rd quarter worth $61,000. Finally, Quest Partners LLC acquired a new stake in Steel Dynamics in the third quarter worth about $62,000. 82.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the transaction, the senior vice president now directly owns 116,949 shares in the company, valued at approximately $16,723,707. This trade represents a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the completion of the transaction, the senior vice president now owns 21,101 shares of the company’s stock, valued at $2,927,763.75. The trade was a 8.66 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

Steel Dynamics Stock Up 4.1 %

Shares of NASDAQ STLD opened at $127.05 on Wednesday. The stock has a market cap of $19.34 billion, a PE ratio of 12.96 and a beta of 1.36. The company has a 50-day moving average of $126.63 and a 200 day moving average of $126.31. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.25%. During the same quarter in the previous year, the business posted $2.61 earnings per share. As a group, sell-side analysts predict that Steel Dynamics, Inc. will post 8.93 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend was Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is presently 18.78%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. Citigroup lowered their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. BMO Capital Markets boosted their price objective on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. The Goldman Sachs Group started coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price target on the stock. BNP Paribas raised Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. Finally, JPMorgan Chase & Co. cut their price target on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a report on Friday, January 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Steel Dynamics currently has a consensus rating of “Hold” and a consensus price target of $143.38.

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.