Brookstone Capital Management Sells 3,131 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Brookstone Capital Management decreased its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 34.9% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,849 shares of the basic materials company’s stock after selling 3,131 shares during the quarter. Brookstone Capital Management’s holdings in Steel Dynamics were worth $667,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Czech National Bank boosted its stake in shares of Steel Dynamics by 5.0% in the 4th quarter. Czech National Bank now owns 30,700 shares of the basic materials company’s stock valued at $3,502,000 after purchasing an additional 1,468 shares in the last quarter. ORG Wealth Partners LLC bought a new position in Steel Dynamics during the 4th quarter valued at about $28,000. Nordea Investment Management AB boosted its position in Steel Dynamics by 22.4% in the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock valued at $158,487,000 after buying an additional 253,802 shares in the last quarter. Everence Capital Management Inc. bought a new stake in Steel Dynamics during the fourth quarter worth about $216,000. Finally, GAMMA Investing LLC increased its holdings in shares of Steel Dynamics by 24.3% during the fourth quarter. GAMMA Investing LLC now owns 2,420 shares of the basic materials company’s stock worth $276,000 after buying an additional 473 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Richard A. Poinsatte sold 2,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the completion of the sale, the senior vice president now directly owns 21,101 shares of the company’s stock, valued at $2,927,763.75. This represents a 8.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the completion of the sale, the senior vice president now owns 146,693 shares in the company, valued at $19,523,371.37. This represents a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,591 shares of company stock valued at $3,885,938. 6.10% of the stock is currently owned by insiders.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $125.83 on Friday. The business’s 50-day simple moving average is $129.13 and its 200 day simple moving average is $126.46. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The stock has a market cap of $19.16 billion, a price-to-earnings ratio of 11.39 and a beta of 1.36. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter last year, the firm earned $3.47 EPS. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. As a group, research analysts anticipate that Steel Dynamics, Inc. will post 9.78 earnings per share for the current year.

Steel Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were paid a $0.46 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a yield of 1.46%. Steel Dynamics’s payout ratio is presently 16.65%.

Wall Street Analyst Weigh In

Several brokerages have recently commented on STLD. BMO Capital Markets boosted their target price on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. BNP Paribas raised Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. lowered their target price on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research note on Friday. Citigroup reduced their price target on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $140.88.

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.