Boston Common Asset Management LLC Increases Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Boston Common Asset Management LLC lifted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 45.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 66,493 shares of the basic materials company’s stock after buying an additional 20,721 shares during the quarter. Boston Common Asset Management LLC’s holdings in Steel Dynamics were worth $7,585,000 as of its most recent SEC filing.

A number of other institutional investors have also recently modified their holdings of STLD. Holocene Advisors LP boosted its stake in shares of Steel Dynamics by 85.8% in the third quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock valued at $289,400,000 after buying an additional 1,060,007 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in shares of Steel Dynamics by 116.5% in the third quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock valued at $128,434,000 after buying an additional 548,086 shares in the last quarter. Nordea Investment Management AB boosted 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 in the last quarter. Skandinaviska Enskilda Banken AB publ raised its holdings in Steel Dynamics by 65.3% during the second quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company’s stock worth $74,064,000 after purchasing an additional 225,832 shares during the last quarter. Finally, Renaissance Technologies LLC acquired a new position in Steel Dynamics during the second quarter worth $24,670,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction dated 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 owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Glenn Pushis sold 17,941 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now directly 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. Over the last ninety days, insiders sold 28,591 shares of company stock worth $3,885,938. 6.10% of the stock is currently owned by insiders.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $125.83 on Friday. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The stock has a market cap of $19.16 billion, a price-to-earnings ratio of 11.39 and a beta of 1.36. The business has a fifty day moving average of $129.13 and a 200-day moving average of $126.46. 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 released its quarterly 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 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 previous year, the firm posted $3.47 earnings per share. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, analysts predict that Steel Dynamics, Inc. will post 9.78 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were paid a $0.46 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.84 annualized dividend and a yield of 1.46%. Steel Dynamics’s payout ratio is currently 16.65%.

Wall Street Analyst Weigh In

STLD has been the subject of several research reports. BMO Capital Markets lifted their price objective on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. JPMorgan Chase & Co. reduced their price objective on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a report on Friday. Jefferies Financial Group reduced their price objective on Steel Dynamics from $145.00 to $125.00 and set a “hold” rating for the company in a report on Monday, January 6th. The Goldman Sachs Group initiated coverage on Steel Dynamics in a report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price objective for the company. Finally, UBS Group reaffirmed a “neutral” rating and set a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $140.88.

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.