Citizens Financial Group Inc. RI Invests $200,000 in Steel Dynamics, Inc. (NASDAQ:STLD)

Citizens Financial Group Inc. RI purchased a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 1,583 shares of the basic materials company’s stock, valued at approximately $200,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of Steel Dynamics in the 2nd quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Steel Dynamics during the second quarter worth $41,000. Cullen Frost Bankers Inc. increased its position in Steel Dynamics by 33.3% during the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 100 shares during the last quarter. HHM Wealth Advisors LLC purchased a new stake in shares of Steel Dynamics in the second quarter valued at $52,000. Finally, Quest Partners LLC bought a new stake in shares of Steel Dynamics in the 3rd quarter worth about $62,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Price Performance

STLD opened at $143.57 on Monday. The company has a market capitalization of $21.86 billion, a price-to-earnings ratio of 12.99 and a beta of 1.31. 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, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56. The business’s fifty day simple moving average is $132.24 and its 200-day simple moving average is $127.44.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results 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 for the quarter, compared to analysts’ expectations of $4.18 billion. During the same period in the prior year, the business earned $3.47 EPS. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. On average, equities research analysts anticipate that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.46 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a yield of 1.28%. Steel Dynamics’s dividend payout ratio is currently 16.65%.

Wall Street Analysts Forecast Growth

STLD has been the topic of several analyst reports. JPMorgan Chase & Co. upped their price target on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a report on Friday, October 18th. Morgan Stanley reduced their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Finally, BMO Capital Markets boosted 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. Four research 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 presently has an average rating of “Hold” and a consensus target price of $144.29.

Insider Activity

In related news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the completion of the sale, the senior vice president now owns 146,693 shares of the company’s stock, valued at $19,523,371.37. This represents a 10.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction on Friday, November 15th. The stock was sold at an average price of $138.75, for a total transaction of $277,500.00. Following the completion of the transaction, the senior vice president now directly owns 21,101 shares in the company, valued at $2,927,763.75. This represents a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 28,591 shares of company stock worth $3,885,938. 6.00% of the stock is currently owned by company insiders.

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.