Blueshift Asset Management LLC Buys Shares of 1,927 Steel Dynamics, Inc. (NASDAQ:STLD)

Blueshift Asset Management LLC purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 1,927 shares of the basic materials company’s stock, valued at approximately $243,000.

Other institutional investors also recently modified their holdings of the company. Innealta Capital LLC bought a new position in Steel Dynamics in the second quarter valued at about $33,000. Private Trust Co. NA lifted its holdings in shares of Steel Dynamics by 532.6% in the third 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. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Steel Dynamics in the 2nd quarter valued at approximately $41,000. Cullen Frost Bankers Inc. grew its holdings in shares of Steel Dynamics by 33.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 100 shares during the last quarter. Finally, HHM Wealth Advisors LLC acquired a new position in Steel Dynamics during the 2nd quarter worth approximately $52,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Ratings Changes

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

Steel Dynamics Trading Up 0.1 %

Shares of STLD stock opened at $143.83 on Friday. The stock has a 50-day moving average of $134.08 and a 200-day moving average of $127.68. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The stock has a market cap of $21.90 billion, a price-to-earnings ratio of 13.02 and a beta of 1.31. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $4.18 billion. During the same quarter last year, the business earned $3.47 EPS. The company’s revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts forecast that Steel Dynamics, Inc. will post 10.1 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.46 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a yield of 1.28%. Steel Dynamics’s dividend payout ratio (DPR) is currently 16.65%.

Insiders Place Their Bets

In related news, VP Chad Bickford sold 2,000 shares of the company’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 sale, the vice president now owns 17,100 shares in the company, valued at $2,306,106. This represents a 10.47 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction that occurred 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 completion of the sale, the senior vice president now owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,591 shares of company stock worth $3,885,938. Company 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.