Parkside Financial Bank & Trust Grows Stake in Steel Dynamics, Inc. $STLD

Parkside Financial Bank & Trust lifted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 66.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,034 shares of the basic materials company’s stock after purchasing an additional 809 shares during the quarter. Parkside Financial Bank & Trust’s holdings in Steel Dynamics were worth $260,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the company. Cary Street Partners Investment Advisory LLC raised its holdings in Steel Dynamics by 493.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock worth $25,000 after buying an additional 163 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new stake in shares of Steel Dynamics during the second quarter valued at approximately $30,000. Zions Bancorporation National Association UT bought a new stake in shares of Steel Dynamics during the first quarter valued at approximately $32,000. WPG Advisers LLC purchased a new position in Steel Dynamics in the 1st quarter worth approximately $32,000. Finally, Rosenberg Matthew Hamilton lifted its position in Steel Dynamics by 306.2% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 199 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Steel Dynamics

In other news, SVP Miguel Alvarez sold 8,251 shares of the company’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total value of $1,343,180.29. Following the completion of the sale, the senior vice president directly owned 117,068 shares in the company, valued at $19,057,499.72. This represents a 6.58% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 6.30% of the stock is owned by company insiders.

Steel Dynamics Trading Down 0.6%

Steel Dynamics stock opened at $151.94 on Monday. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $164.73. The company has a market cap of $22.19 billion, a P/E ratio of 20.12, a P/E/G ratio of 1.39 and a beta of 1.45. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.43. The business has a 50-day simple moving average of $143.23 and a two-hundred day simple moving average of $134.77.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.11. The company had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The firm’s revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.05 earnings per share. Analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.3%. Steel Dynamics’s payout ratio is presently 26.49%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Morgan Stanley lifted their target price on Steel Dynamics from $145.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. JPMorgan Chase & Co. lifted their price objective on Steel Dynamics from $150.00 to $160.00 and gave the stock a “neutral” rating in a report on Monday, October 13th. UBS Group set a $165.00 target price on Steel Dynamics in a research report on Tuesday, November 4th. KeyCorp lifted their price target on shares of Steel Dynamics from $152.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Finally, Wells Fargo & Company boosted their price objective on shares of Steel Dynamics from $150.00 to $169.00 and gave the company an “overweight” rating in a report on Wednesday, October 22nd. Seven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $170.11.

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.