Foster & Motley Inc. Buys 2,812 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Foster & Motley Inc. lifted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 9.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 32,697 shares of the basic materials company’s stock after acquiring an additional 2,812 shares during the quarter. Foster & Motley Inc.’s holdings in Steel Dynamics were worth $4,122,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in STLD. Norden Group LLC purchased a new position in shares of Steel Dynamics in the first quarter valued at $723,000. Janney Montgomery Scott LLC grew its stake in shares of Steel Dynamics by 9.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 20,779 shares of the basic materials company’s stock worth $3,080,000 after buying an additional 1,845 shares in the last quarter. Mutual of America Capital Management LLC increased its holdings in shares of Steel Dynamics by 1.6% in the 1st quarter. Mutual of America Capital Management LLC now owns 35,957 shares of the basic materials company’s stock worth $5,330,000 after buying an additional 581 shares during the last quarter. Larson Financial Group LLC purchased a new stake in shares of Steel Dynamics during the 1st quarter valued at about $25,000. Finally, Csenge Advisory Group lifted its holdings in shares of Steel Dynamics by 9.0% in the 1st quarter. Csenge Advisory Group now owns 2,858 shares of the basic materials company’s stock valued at $424,000 after acquiring an additional 235 shares during the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction on 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 transaction, the senior vice president now owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Chad Bickford sold 2,000 shares of the business’s stock in a transaction that occurred on 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 of the company’s stock, valued at $2,306,106. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction 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 sale, the senior vice president now directly owns 146,693 shares in the company, valued at $19,523,371.37. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Morgan Stanley decreased their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. JPMorgan Chase & Co. increased 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. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. BMO Capital Markets increased their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Finally, UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the stock 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 given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $144.29.

Steel Dynamics Stock Up 9.1 %

Shares of STLD opened at $148.00 on Wednesday. The firm has a market capitalization of $22.84 billion, a P/E ratio of 12.28 and a beta of 1.31. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $151.34. The firm has a fifty day moving average price of $124.24 and a 200-day moving average price of $126.38. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.07. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.47 EPS. Equities research analysts expect that Steel Dynamics, Inc. will post 10.22 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.24%. Steel Dynamics’s payout ratio is currently 16.65%.

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.