Greenleaf Trust Grows Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Greenleaf Trust lifted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 2.9% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,754 shares of the basic materials company’s stock after buying an additional 133 shares during the quarter. Greenleaf Trust’s holdings in Steel Dynamics were worth $542,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STLD. Holocene Advisors LP boosted its position in Steel Dynamics by 85.8% in the 3rd quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock worth $289,400,000 after purchasing an additional 1,060,007 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Steel Dynamics by 6.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company’s stock valued at $194,933,000 after purchasing an additional 96,122 shares during the period. Nordea Investment Management AB boosted its holdings in Steel Dynamics by 22.4% during the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after buying an additional 253,802 shares in the last quarter. Lord Abbett & CO. LLC grew its position in Steel Dynamics by 116.5% during 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 during the period. Finally, Barclays PLC increased its holdings in Steel Dynamics by 21.8% in the third quarter. Barclays PLC now owns 448,942 shares of the basic materials company’s stock valued at $56,603,000 after buying an additional 80,262 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Trading Down 1.2 %

Shares of STLD stock opened at $126.38 on Wednesday. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. The stock’s fifty day moving average is $125.04 and its two-hundred day moving average is $126.24. The firm has a market capitalization of $19.24 billion, a P/E ratio of 12.90 and a beta of 1.35.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same quarter in the previous year, the company earned $2.61 earnings per share. Research analysts expect that Steel Dynamics, Inc. will post 8.9 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were given a $0.46 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.46%. Steel Dynamics’s dividend payout ratio (DPR) is presently 18.78%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. Citigroup lowered their target price on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. BMO Capital Markets raised their price objective on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. JPMorgan Chase & Co. cut their price objective on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. StockNews.com lowered Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Wednesday. Finally, Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and boosted their price target for the stock from $125.00 to $145.00 in a report on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $145.13.

Insider Activity at Steel Dynamics

In other news, SVP Miguel Alvarez sold 6,650 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The shares were 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 in the company, valued at $16,723,707. This trade represents a 5.38 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction that occurred 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 sale, the senior vice president now directly 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 disclosure for this sale can be found here. Insiders own 6.10% 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.