Brooklyn Investment Group Acquires New Shares in Steel Dynamics, Inc. (NASDAQ:STLD)

Brooklyn Investment Group purchased a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 482 shares of the basic materials company’s stock, valued at approximately $61,000.

Several other institutional investors have also modified their holdings of STLD. Larson Financial Group LLC grew its stake in 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 purchasing an additional 18,647 shares in the last quarter. Envestnet Asset Management Inc. grew its position in shares of Steel Dynamics by 9.4% during the second 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 in the last quarter. IFM Investors Pty Ltd increased its stake in shares of Steel Dynamics by 21.5% during the third quarter. IFM Investors Pty Ltd now owns 38,355 shares of the basic materials company’s stock worth $4,836,000 after buying an additional 6,779 shares during the period. DNB Asset Management AS raised its holdings in Steel Dynamics by 21.5% in the second quarter. DNB Asset Management AS now owns 56,602 shares of the basic materials company’s stock valued at $7,330,000 after acquiring an additional 10,006 shares in the last quarter. Finally, National Bank of Canada FI raised its holdings in Steel Dynamics by 481.2% in the second quarter. National Bank of Canada FI now owns 328,795 shares of the basic materials company’s stock valued at $42,461,000 after acquiring an additional 272,226 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

STLD has been the subject of a number of research reports. BMO Capital Markets boosted their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price target on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Morgan Stanley cut their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. Finally, UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $144.29.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,000 shares of the company’s stock in a transaction 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 sale, 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 position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 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 value 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 $19,523,371.37. This represents a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,591 shares of company stock valued at $3,885,938. Corporate insiders own 6.10% of the company’s stock.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $143.83 on Friday. The company has a market capitalization of $21.90 billion, a P/E ratio of 13.02 and a beta of 1.31. The business’s 50-day moving average price is $134.08 and its two-hundred day moving average price is $127.68. Steel Dynamics, Inc. has a one year low of $104.60 and a one year 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.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data 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 business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same period in the previous year, the company earned $3.47 earnings per share. Steel Dynamics’s revenue for the quarter was down 5.4% on a year-over-year basis. Analysts anticipate that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

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

Steel Dynamics Company 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.