Steel Dynamics, Inc. (NASDAQ:STLD) Shares Acquired by Raymond James & Associates

Raymond James & Associates boosted its stake in Steel Dynamics, Inc. (NASDAQ:STLDFree Report) by 3.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 77,210 shares of the basic materials company’s stock after buying an additional 2,472 shares during the period. Raymond James & Associates owned 0.05% of Steel Dynamics worth $9,735,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Larson Financial Group LLC acquired a new position in shares of Steel Dynamics during the first quarter worth approximately $25,000. Innealta Capital LLC acquired a new position in shares of Steel Dynamics during the second quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Steel Dynamics during the second quarter valued at about $41,000. Cullen Frost Bankers Inc. lifted its holdings in Steel Dynamics by 33.3% in the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 100 shares during the period. Finally, HHM Wealth Advisors LLC bought a new position in Steel Dynamics in the 2nd quarter valued at about $52,000. 82.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of the firm’s stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $134.86, for a total transaction 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of the stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total transaction of $269,720.00. Following the transaction, the vice president now owns 17,100 shares in the company, valued at $2,306,106. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Glenn Pushis sold 17,941 shares of the business’s 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 sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.10% of the company’s stock.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock opened at $135.16 on Wednesday. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a 12 month low of $102.86 and a 12 month high of $151.34. The business has a fifty day simple moving average of $122.98 and a 200-day simple moving average of $126.57. The stock has a market cap of $20.86 billion, a PE ratio of 12.23 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLDGet Free Report) last released its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share 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 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 earned $3.47 EPS. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 10.22 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date of this dividend was Monday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 16.65%.

Analyst Upgrades and Downgrades

A number of analysts have commented on STLD shares. BMO Capital Markets boosted their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Morgan Stanley decreased their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 18th. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. upped 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. Finally, Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $144.29.

Read Our Latest Research Report on STLD

About Steel Dynamics

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

Receive News & Ratings for Steel Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.