Creative Planning Buys 186 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Creative Planning raised its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.7% during the third quarter, HoldingsChannel reports. The fund owned 27,324 shares of the basic materials company’s stock after acquiring an additional 186 shares during the quarter. Creative Planning’s holdings in Steel Dynamics were worth $3,445,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Atomi Financial Group Inc. lifted its stake in Steel Dynamics by 3.1% in the first quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company’s stock worth $395,000 after purchasing an additional 79 shares during the last quarter. Csenge Advisory Group lifted its stake in shares of Steel Dynamics by 2.8% during the 2nd quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock worth $381,000 after acquiring an additional 81 shares during the last quarter. Dorsey Wright & Associates boosted its holdings in Steel Dynamics by 0.4% during the 2nd quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock valued at $3,050,000 after acquiring an additional 96 shares during the period. Stiles Financial Services Inc grew its position in Steel Dynamics by 0.5% in the 2nd quarter. Stiles Financial Services Inc now owns 18,753 shares of the basic materials company’s stock valued at $2,429,000 after acquiring an additional 99 shares during the last quarter. Finally, Resonant Capital Advisors LLC increased its stake in Steel Dynamics by 3.4% in the second quarter. Resonant Capital Advisors LLC now owns 3,046 shares of the basic materials company’s stock worth $396,000 after purchasing an additional 99 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on STLD shares. Morgan Stanley reduced their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 18th. JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. BMO Capital Markets lifted their target price on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price target 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 given a buy rating to the stock. According to MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and a consensus price target of $144.29.

Insider Transactions at Steel Dynamics

In other news, SVP Glenn Pushis sold 17,941 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 146,693 shares in the company, valued at approximately $19,523,371.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.00% of the company’s stock.

Steel Dynamics Trading Down 0.6 %

Shares of NASDAQ STLD opened at $129.58 on Friday. Steel Dynamics, Inc. has a 1-year low of $100.20 and a 1-year high of $151.34. The business has a fifty day moving average price of $122.20 and a 200 day moving average price of $126.93. The stock has a market capitalization of $19.99 billion, a P/E ratio of 11.73 and a beta of 1.31. 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 results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating 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 business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same period in the prior year, the firm posted $3.47 earnings per share. The company’s quarterly revenue was down 5.4% on a year-over-year basis. Equities research analysts expect that Steel Dynamics, Inc. will post 10.22 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date was Monday, September 30th. Steel Dynamics’s payout ratio is presently 16.65%.

About Steel Dynamics

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.