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

Greenleaf Trust lifted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 2.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,621 shares of the basic materials company’s stock after purchasing an additional 96 shares during the period. Greenleaf Trust’s holdings in Steel Dynamics were worth $583,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC purchased a new position in Steel Dynamics during the first quarter worth $25,000. Innealta Capital LLC acquired a new position in Steel Dynamics in the 2nd quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Steel Dynamics in the 2nd quarter valued at about $41,000. Cullen Frost Bankers Inc. boosted its stake in shares of Steel Dynamics by 33.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 100 shares during the last quarter. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of Steel Dynamics during the second quarter worth about $52,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the sale, the senior vice president now owns 146,693 shares in the company, valued at approximately $19,523,371.37. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

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

Steel Dynamics Stock Performance

NASDAQ STLD opened at $129.58 on Friday. The business’s 50-day simple moving average is $122.20 and its 200-day simple moving average is $126.93. The firm has a market capitalization of $19.99 billion, a P/E ratio of 11.73 and a beta of 1.31. Steel Dynamics, Inc. has a 1-year low of $100.20 and a 1-year high of $151.34. 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 released its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same period in the previous year, the firm earned $3.47 earnings per share. Steel Dynamics’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities analysts predict that Steel Dynamics, Inc. will post 10.22 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.42%. The ex-dividend date was Monday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 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.