Independent Advisor Alliance Purchases 480 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Independent Advisor Alliance increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 9.3% in the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 5,619 shares of the basic materials company’s stock after buying an additional 480 shares during the quarter. Independent Advisor Alliance’s holdings in Steel Dynamics were worth $708,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Larson Financial Group LLC boosted its holdings in shares of Steel Dynamics by 9,465.5% during the 3rd quarter. Larson Financial Group LLC now owns 18,844 shares of the basic materials company’s stock worth $2,376,000 after buying an additional 18,647 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Steel Dynamics by 9.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 230,922 shares of the basic materials company’s stock valued at $29,904,000 after purchasing an additional 19,853 shares during the period. IFM Investors Pty Ltd boosted its holdings in Steel Dynamics by 21.5% in the 3rd quarter. IFM Investors Pty Ltd now owns 38,355 shares of the basic materials company’s stock valued at $4,836,000 after purchasing an additional 6,779 shares during the period. DNB Asset Management AS boosted its holdings in Steel Dynamics by 21.5% in the 2nd quarter. DNB Asset Management AS now owns 56,602 shares of the basic materials company’s stock valued at $7,330,000 after purchasing an additional 10,006 shares during the period. Finally, National Bank of Canada FI boosted its holdings in Steel Dynamics by 481.2% in the 2nd quarter. National Bank of Canada FI now owns 328,795 shares of the basic materials company’s stock valued at $42,461,000 after purchasing an additional 272,226 shares during the period. 82.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

STLD has been the subject of a number of research reports. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price target for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. Morgan Stanley reduced their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. JPMorgan Chase & Co. raised their price objective 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. 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 report on Friday, October 18th. Finally, Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $144.29.

Steel Dynamics Trading Up 0.1 %

Shares of STLD stock opened at $143.83 on Thursday. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56. The company has a market capitalization of $21.90 billion, a P/E ratio of 13.02 and a beta of 1.31. The firm has a 50-day moving average price of $133.50 and a 200 day moving average price of $127.57. 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 for the quarter, topping 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 company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same period in the previous year, the firm posted $3.47 earnings per share. The company’s revenue was down 5.4% on a year-over-year basis. Research analysts forecast that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is presently 16.65%.

Insider Buying and Selling

In related news, SVP Richard A. Poinsatte sold 2,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 21,101 shares in the company, valued at approximately $2,927,763.75. The trade was a 8.66 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Glenn Pushis sold 17,941 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the transaction, the senior vice president now owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. This represents a 10.90 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,591 shares of company stock valued at $3,885,938 over the last ninety days. Insiders own 6.10% of the company’s stock.

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.