Steel Dynamics, Inc. (NASDAQ:STLD) Shares Bought by Eagle Asset Management Inc.

Eagle Asset Management Inc. increased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 3.4% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 39,065 shares of the basic materials company’s stock after acquiring an additional 1,270 shares during the period. Eagle Asset Management Inc.’s holdings in Steel Dynamics were worth $4,925,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in STLD. SVB Wealth LLC acquired a new stake in Steel Dynamics in the first quarter valued at about $250,000. Kennedy Capital Management LLC lifted its position in shares of Steel Dynamics by 4.8% during the 1st quarter. Kennedy Capital Management LLC now owns 83,794 shares of the basic materials company’s stock valued at $12,421,000 after acquiring an additional 3,847 shares during the period. B. Riley Wealth Advisors Inc. acquired a new stake in shares of Steel Dynamics during the 1st quarter valued at approximately $337,000. LBP AM SA lifted its position in shares of Steel Dynamics by 26.5% during the 1st quarter. LBP AM SA now owns 21,966 shares of the basic materials company’s stock valued at $3,256,000 after acquiring an additional 4,599 shares during the period. Finally, National Wealth Management Group LLC acquired a new stake in shares of Steel Dynamics during the 1st quarter valued at approximately $536,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $143.57 on Monday. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. The firm has a market capitalization of $21.86 billion, a P/E ratio of 12.99 and a beta of 1.31. The company’s fifty day moving average price is $132.24 and its two-hundred day moving average price is $127.44.

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

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a dividend of $0.46 per share. 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%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on STLD shares. JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley lowered their target price on shares of 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. BMO Capital Markets lifted their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. Finally, UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $144.29.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the transaction, the vice president now owns 17,100 shares in the company, valued at approximately $2,306,106. This represents a 10.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction dated 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 completion of the transaction, the senior vice president now owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. This trade 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 in the last quarter. Insiders own 6.00% of the company’s stock.

Steel Dynamics Profile

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.