Barclays PLC Has $56.60 Million Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Barclays PLC lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 21.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 448,942 shares of the basic materials company’s stock after buying an additional 80,262 shares during the quarter. Barclays PLC owned about 0.29% of Steel Dynamics worth $56,603,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Innealta Capital LLC acquired a new stake in Steel Dynamics in the second quarter worth $33,000. Private Trust Co. NA increased its position in Steel Dynamics by 532.6% in the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after buying an additional 245 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in Steel Dynamics by 33.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock worth $52,000 after buying an additional 100 shares during the period. HHM Wealth Advisors LLC bought a new position in Steel Dynamics in the second quarter worth approximately $52,000. Finally, Brooklyn Investment Group acquired a new stake in Steel Dynamics in the third quarter valued at approximately $61,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently issued reports on STLD shares. BMO Capital Markets lifted 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 report on Friday, October 18th. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. 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 target price on the stock. JPMorgan Chase & Co. lifted their price target on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Finally, UBS Group reissued a “neutral” rating and issued a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a research note on Thursday. Six equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $146.13.

Insider Activity

In other Steel Dynamics news, SVP Miguel Alvarez sold 6,650 shares of the stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the transaction, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. This represents a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Glenn Pushis sold 17,941 shares of the firm’s stock in a transaction on Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the sale, the senior vice president now directly owns 146,693 shares of the company’s stock, 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. Insiders sold 28,591 shares of company stock valued at $3,885,938 in the last three months. Company insiders own 6.00% of the company’s stock.

Steel Dynamics Stock Performance

STLD stock opened at $126.91 on Friday. The business has a 50 day moving average of $137.23 and a 200-day moving average of $128.08. The firm has a market cap of $19.32 billion, a PE ratio of 11.49 and a beta of 1.31. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56. 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 (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, beating the consensus estimate of $1.98 by $0.07. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The business’s revenue was down 5.4% compared to the same quarter last year. During the same period last year, the firm posted $3.47 EPS. As a group, sell-side analysts expect that Steel Dynamics, Inc. will post 10.1 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is currently 16.65%.

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.