Kingsview Wealth Management LLC Has $8.85 Million Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Kingsview Wealth Management LLC grew its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 7.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,225 shares of the basic materials company’s stock after buying an additional 4,970 shares during the quarter. Kingsview Wealth Management LLC’s holdings in Steel Dynamics were worth $8,854,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Price T Rowe Associates Inc. MD increased its position in Steel Dynamics by 4.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock worth $534,295,000 after buying an additional 152,254 shares during the last quarter. Pacer Advisors Inc. increased its position in Steel Dynamics by 7.0% during the second quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company’s stock worth $276,891,000 after acquiring an additional 140,042 shares during the period. Thrivent Financial for Lutherans raised its position in shares of Steel Dynamics by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company’s stock valued at $228,999,000 after buying an additional 22,390 shares during the last quarter. LSV Asset Management increased its stake in Steel Dynamics by 3.9% during the second quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company’s stock valued at $182,604,000 after acquiring an additional 53,532 shares during the period. Finally, AustralianSuper Pty Ltd raised its holdings in Steel Dynamics by 1.8% in the 2nd quarter. AustralianSuper Pty Ltd now owns 592,255 shares of the basic materials company’s stock valued at $76,697,000 after acquiring an additional 10,701 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Morgan Stanley cut their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 18th. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. BMO Capital Markets raised their target price 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. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. upped their target price on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $144.29.

Steel Dynamics Stock Down 1.0 %

Shares of NASDAQ STLD opened at $143.57 on Friday. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The company has a market cap of $21.86 billion, a price-to-earnings ratio of 12.99 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 firm’s 50-day simple moving average is $132.24 and its 200 day simple moving average is $127.50.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business 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 posted $3.47 earnings per share. Steel Dynamics’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, research analysts expect that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

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

Insider Activity

In related news, VP Chad Bickford sold 2,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the transaction, the vice president now directly owns 17,100 shares in the company, valued at $2,306,106. This represents a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction on Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following 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 position. The disclosure for this sale can be found here. Insiders have sold 28,591 shares of company stock valued at $3,885,938 over the last 90 days. 6.00% of the stock is owned by company insiders.

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.