Ritholtz Wealth Management Buys 1,060 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Ritholtz Wealth Management lifted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 24.6% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 5,377 shares of the basic materials company’s stock after acquiring an additional 1,060 shares during the period. Ritholtz Wealth Management’s holdings in Steel Dynamics were worth $613,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in shares of Steel Dynamics in the third quarter valued at approximately $25,000. ORG Wealth Partners LLC bought a new position in Steel Dynamics in the 4th quarter worth $28,000. Private Trust Co. NA lifted its position in Steel Dynamics by 532.6% during the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 245 shares during the last quarter. Brooklyn Investment Group bought a new stake in Steel Dynamics during the third quarter valued at about $61,000. Finally, Quest Partners LLC acquired a new stake in shares of Steel Dynamics in the third quarter valued at about $62,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently weighed in on STLD shares. Jefferies Financial Group cut their price objective on Steel Dynamics from $145.00 to $125.00 and set a “hold” rating for the company in a research report on Monday, January 6th. BNP Paribas raised Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. 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 research note on Friday, October 18th. The Goldman Sachs Group assumed coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price target for the company. Finally, Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $140.88.

Insider Activity

In related news, SVP Miguel Alvarez sold 6,650 shares of the business’s 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 sale, the senior vice president now owns 116,949 shares of the company’s stock, valued at $16,723,707. The trade was a 5.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,000 shares of the stock in a transaction on Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the transaction, the senior vice president now owns 21,101 shares of the company’s stock, valued at $2,927,763.75. This represents a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 10,650 shares of company stock worth $1,498,170. Company insiders own 6.10% of the company’s stock.

Steel Dynamics Price Performance

NASDAQ:STLD opened at $125.83 on Tuesday. The company has a market capitalization of $19.16 billion, a price-to-earnings ratio of 11.39 and a beta of 1.36. The company has a 50-day moving average of $128.69 and a 200-day moving average of $126.43. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Shareholders 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 yield of 1.46%. The ex-dividend date was Tuesday, December 31st. Steel Dynamics’s payout ratio 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.