Oak Thistle LLC Makes New $1.73 Million Investment in Steel Dynamics, Inc. (NASDAQ:STLD)

Oak Thistle LLC purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,120 shares of the basic materials company’s stock, valued at approximately $1,725,000.

A number of other large investors also recently modified their holdings of STLD. Harbour Capital Advisors LLC increased its holdings in Steel Dynamics by 133.7% in the 4th quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company’s stock worth $1,301,000 after purchasing an additional 6,579 shares in the last quarter. Larson Financial Group LLC grew its holdings in shares of Steel Dynamics by 9,465.5% during the third quarter. Larson Financial Group LLC now owns 18,844 shares of the basic materials company’s stock worth $2,376,000 after purchasing an additional 18,647 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Steel Dynamics by 22.4% in the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock valued at $158,487,000 after buying an additional 253,802 shares during the period. World Investment Advisors LLC bought a new position in Steel Dynamics in the 3rd quarter valued at approximately $15,880,000. Finally, Envestnet Asset Management Inc. boosted its position in Steel Dynamics by 9.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 230,922 shares of the basic materials company’s stock worth $29,904,000 after buying an additional 19,853 shares during the period. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Stock Up 0.2 %

Shares of Steel Dynamics stock opened at $123.52 on Wednesday. The firm has a market cap of $18.81 billion, a price-to-earnings ratio of 11.18 and a beta of 1.36. The stock’s 50-day moving average is $130.87 and its 200 day moving average is $126.54. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. The firm had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the prior year, the business earned $3.47 EPS. Equities research analysts anticipate that Steel Dynamics, Inc. will post 10.09 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.49%. The ex-dividend date was Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is presently 16.65%.

Insiders Place Their Bets

In other news, SVP Richard A. Poinsatte sold 2,000 shares of the stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $138.75, for a total transaction of $277,500.00. Following the transaction, the senior vice president now owns 21,101 shares of the company’s stock, valued at $2,927,763.75. This represents a 8.66 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Miguel Alvarez sold 6,650 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president now owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. This represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,591 shares of company stock worth $3,885,938. 6.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Morgan Stanley decreased 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 research report on Wednesday, September 18th. JPMorgan Chase & Co. raised their target price on Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. BMO Capital Markets lifted their target price on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price target for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. Finally, Citigroup cut their price objective on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $141.13.

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.