International Assets Investment Management LLC Boosts Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

International Assets Investment Management LLC increased its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 1,051.9% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,330 shares of the basic materials company’s stock after acquiring an additional 8,520 shares during the quarter. International Assets Investment Management LLC’s holdings in Steel Dynamics were worth $1,176,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in STLD. Norden Group LLC acquired a new stake in Steel Dynamics during the 1st quarter worth $723,000. Janney Montgomery Scott LLC lifted its position in Steel Dynamics by 9.7% in the first quarter. Janney Montgomery Scott LLC now owns 20,779 shares of the basic materials company’s stock valued at $3,080,000 after buying an additional 1,845 shares during the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its position in Steel Dynamics by 5.5% in the first quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,478 shares of the basic materials company’s stock valued at $664,000 after buying an additional 234 shares during the last quarter. Graypoint LLC purchased a new stake in Steel Dynamics during the first quarter worth about $202,000. Finally, Mutual of America Capital Management LLC increased its stake in Steel Dynamics by 1.6% during the first quarter. Mutual of America Capital Management LLC now owns 35,957 shares of the basic materials company’s stock worth $5,330,000 after purchasing an additional 581 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Activity at Steel Dynamics

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. 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 report on Tuesday, September 3rd. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Morgan Stanley cut their price objective on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. Finally, BMO Capital Markets raised their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $144.29.

Steel Dynamics Stock Performance

Shares of STLD opened at $133.58 on Tuesday. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The firm has a market cap of $20.61 billion, a PE ratio of 12.09 and a beta of 1.31. The company’s 50 day simple moving average is $123.74 and its 200-day simple moving average is $126.41. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $151.34.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period last year, the firm posted $3.47 earnings per share. As a group, equities analysts predict that Steel Dynamics, Inc. will post 10.22 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a $0.46 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.38%. Steel Dynamics’s dividend payout ratio (DPR) is 16.65%.

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.