Steel Dynamics, Inc. (NASDAQ:STLD) Position Raised by Center For Asset Management LLC

Center For Asset Management LLC raised its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 3.6% in the fourth quarter, HoldingsChannel.com reports. The firm owned 3,252 shares of the basic materials company’s stock after buying an additional 113 shares during the period. Center For Asset Management LLC’s holdings in Steel Dynamics were worth $371,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Commerce Bank grew its holdings in Steel Dynamics by 1.2% during the third quarter. Commerce Bank now owns 5,981 shares of the basic materials company’s stock worth $754,000 after acquiring an additional 73 shares during the period. M&T Bank Corp raised its holdings in shares of Steel Dynamics by 0.9% in the 3rd quarter. M&T Bank Corp now owns 10,055 shares of the basic materials company’s stock worth $1,267,000 after purchasing an additional 88 shares in the last quarter. Atomi Financial Group Inc. lifted its stake in Steel Dynamics by 5.0% during the fourth quarter. Atomi Financial Group Inc. now owns 1,929 shares of the basic materials company’s stock valued at $220,000 after purchasing an additional 91 shares during the last quarter. Covestor Ltd boosted its holdings in Steel Dynamics by 10.8% during the third quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock worth $120,000 after buying an additional 93 shares in the last quarter. Finally, Greenleaf Trust grew its position in Steel Dynamics by 2.1% in the third quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock worth $583,000 after buying an additional 96 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on STLD shares. The Goldman Sachs Group started coverage on Steel Dynamics in a research note on Monday, December 2nd. They set a “neutral” rating and a $155.00 price objective for the company. Jefferies Financial Group raised Steel Dynamics from a “hold” rating to a “buy” rating and lifted their price target for the stock from $125.00 to $145.00 in a research note on Friday. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. StockNews.com lowered shares of Steel Dynamics from a “hold” rating to a “sell” rating in a report on Thursday. Finally, 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Steel Dynamics presently has a consensus rating of “Hold” and an average price target of $143.38.

Steel Dynamics Stock Down 0.0 %

STLD stock opened at $122.35 on Monday. The company has a 50 day moving average of $127.27 and a two-hundred day moving average of $126.38. The company has a market cap of $18.63 billion, a price-to-earnings ratio of 12.48 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. 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 released its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.25%. During the same period last year, the firm posted $2.61 EPS. On average, equities analysts anticipate that Steel Dynamics, Inc. will post 8.93 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were issued a $0.46 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a yield of 1.50%. Steel Dynamics’s dividend payout ratio is currently 18.78%.

Insider Activity at Steel Dynamics

In other news, SVP Richard A. Poinsatte sold 2,000 shares of the firm’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $138.75, for a total transaction of $277,500.00. Following the transaction, the senior vice president now owns 21,101 shares in the company, valued at approximately $2,927,763.75. This trade represents a 8.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Miguel Alvarez sold 6,650 shares of the company’s 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 sale, the senior vice president now owns 116,949 shares of the company’s stock, valued at $16,723,707. This represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

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.