Bleakley Financial Group LLC Sells 106 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Bleakley Financial Group LLC cut its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 3.5% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,947 shares of the basic materials company’s stock after selling 106 shares during the quarter. Bleakley Financial Group LLC’s holdings in Steel Dynamics were worth $372,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Atomi Financial Group Inc. lifted its position in Steel Dynamics by 3.1% during the 1st quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company’s stock worth $395,000 after buying an additional 79 shares in the last quarter. Csenge Advisory Group raised its holdings in shares of Steel Dynamics by 2.8% in the 2nd quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock valued at $381,000 after purchasing an additional 81 shares during the period. Dorsey Wright & Associates raised its holdings in shares of Steel Dynamics by 0.4% in the 2nd quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock valued at $3,050,000 after purchasing an additional 96 shares during the period. Stiles Financial Services Inc raised its holdings in shares of Steel Dynamics by 0.5% in the 2nd quarter. Stiles Financial Services Inc now owns 18,753 shares of the basic materials company’s stock valued at $2,429,000 after purchasing an additional 99 shares during the period. Finally, Resonant Capital Advisors LLC raised its holdings in shares of Steel Dynamics by 3.4% in the 2nd quarter. Resonant Capital Advisors LLC now owns 3,046 shares of the basic materials company’s stock valued at $396,000 after purchasing an additional 99 shares during the period. 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 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 transaction, the senior vice president now owns 146,693 shares in the company, valued at $19,523,371.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 6.00% of the company’s stock.

Steel Dynamics Stock Down 1.2 %

Shares of STLD opened at $131.80 on Wednesday. The firm’s 50-day simple moving average is $121.14 and its 200 day simple moving average is $127.13. Steel Dynamics, Inc. has a 52 week low of $98.32 and a 52 week high of $151.34. The firm has a market cap of $20.34 billion, a P/E ratio of 11.93 and a beta of 1.31. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.39.

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. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the prior year, the business posted $3.47 EPS. The business’s revenue was down 5.4% compared to the same quarter last year. On average, analysts forecast that Steel Dynamics, Inc. will post 10.12 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a dividend of $0.46 per share. The ex-dividend date was Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.40%. Steel Dynamics’s payout ratio is presently 16.65%.

Wall Street Analysts Forecast Growth

STLD has been the topic of a number of research analyst reports. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. JPMorgan Chase & Co. upped their target price 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. BMO Capital Markets upped their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, Morgan Stanley decreased 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 note 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 MarketBeat, Steel Dynamics has a consensus rating of “Hold” and a consensus price target of $144.29.

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.