Stablepoint Partners LLC Has $1.15 Million Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Stablepoint Partners LLC raised its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 4.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 10,035 shares of the basic materials company’s stock after buying an additional 391 shares during the period. Stablepoint Partners LLC’s holdings in Steel Dynamics were worth $1,145,000 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. Holocene Advisors LP grew its stake in shares of Steel Dynamics by 85.8% in the third quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock valued at $289,400,000 after buying an additional 1,060,007 shares in the last quarter. Lord Abbett & CO. LLC grew its position in shares of Steel Dynamics by 116.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock valued at $128,434,000 after acquiring an additional 548,086 shares during the period. Nordea Investment Management AB increased its stake in shares of Steel Dynamics by 22.4% during the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after purchasing an additional 253,802 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc raised its holdings in shares of Steel Dynamics by 192.4% in the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 250,621 shares of the basic materials company’s stock valued at $28,577,000 after purchasing an additional 164,895 shares during the period. Finally, World Investment Advisors LLC acquired a new stake in Steel Dynamics in the 3rd quarter valued at about $15,880,000. 82.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,000 shares of the company’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $138.75, for a total transaction of $277,500.00. Following the completion of the sale, the senior vice president now directly owns 21,101 shares in the company, valued at $2,927,763.75. This represents a 8.66 % decrease in their ownership of the stock. The transaction 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 on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the transaction, the senior vice president now owns 116,949 shares in the company, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

Steel Dynamics Stock Down 0.0 %

Shares of STLD opened at $122.35 on Monday. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The firm’s 50 day moving average is $127.27 and its 200-day moving average is $126.38. The stock has a market capitalization of $18.63 billion, a PE ratio of 12.48 and a beta of 1.36.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.25% and a net margin of 8.76%. During the same period in the prior year, the business posted $2.61 EPS. Equities research analysts forecast that Steel Dynamics, Inc. will post 8.93 EPS for the current year.

Steel Dynamics Dividend Announcement

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

Analyst Upgrades and Downgrades

Several research firms have issued reports on STLD. JPMorgan Chase & Co. dropped their price objective on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. UBS Group reaffirmed a “neutral” rating and set a $149.00 price target (up previously from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. 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 objective on the stock. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. Finally, Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price target for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. One analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Steel Dynamics has an average rating of “Hold” and an average target price of $143.38.

About Steel Dynamics

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.