Daiwa Securities Group Inc. Has $4.93 Million Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Daiwa Securities Group Inc. boosted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.7% in the third quarter, HoldingsChannel reports. The firm owned 39,073 shares of the basic materials company’s stock after acquiring an additional 653 shares during the period. Daiwa Securities Group Inc.’s holdings in Steel Dynamics were worth $4,926,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of the business. SVB Wealth LLC bought a new position in shares of Steel Dynamics in the first quarter valued at about $250,000. B. Riley Wealth Advisors Inc. bought a new position in shares of Steel Dynamics in the first quarter worth about $337,000. LBP AM SA lifted its position in shares of Steel Dynamics by 26.5% during the first quarter. LBP AM SA now owns 21,966 shares of the basic materials company’s stock worth $3,256,000 after purchasing an additional 4,599 shares in the last quarter. National Wealth Management Group LLC bought a new stake in shares of Steel Dynamics during the first quarter valued at approximately $536,000. Finally, Wahed Invest LLC grew its stake in shares of Steel Dynamics by 9.4% during the first quarter. Wahed Invest LLC now owns 2,908 shares of the basic materials company’s stock valued at $431,000 after purchasing an additional 249 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on STLD shares. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. Bank of America raised 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. JPMorgan Chase & Co. lifted their price objective on Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley dropped their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Finally, BMO Capital Markets raised their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $144.29.

Steel Dynamics Trading Down 0.9 %

NASDAQ STLD opened at $143.63 on Wednesday. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The stock has a 50-day simple moving average of $132.92 and a 200 day simple moving average of $127.51. 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 company has a market capitalization of $21.87 billion, a PE ratio of 13.00 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same period in the prior year, the business posted $3.47 EPS. Steel Dynamics’s revenue was down 5.4% on a year-over-year basis. Research analysts forecast that Steel Dynamics, Inc. will post 10.1 EPS for the current year.

Steel Dynamics Announces Dividend

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

Insider Transactions at Steel Dynamics

In related news, SVP Miguel Alvarez sold 6,650 shares of the stock in a transaction that occurred 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 directly owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. This represents a 5.38 % 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 Glenn Pushis sold 17,941 shares of Steel Dynamics 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 completion of the transaction, the senior vice president now directly owns 146,693 shares in the company, valued at approximately $19,523,371.37. The trade was a 10.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,591 shares of company stock valued at $3,885,938 over the last three months. 6.00% of the stock is currently owned by corporate 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.