Commerce Bank grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD – Free Report) by 1.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,981 shares of the basic materials company’s stock after purchasing an additional 73 shares during the period. Commerce Bank’s holdings in Steel Dynamics were worth $754,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Innealta Capital LLC purchased a new position in Steel Dynamics during the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Steel Dynamics in the second quarter worth $41,000. Cullen Frost Bankers Inc. boosted its position in shares of Steel Dynamics by 33.3% in the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock worth $52,000 after buying an additional 100 shares during the period. HHM Wealth Advisors LLC purchased a new position in shares of Steel Dynamics during the second quarter valued at $52,000. Finally, Quest Partners LLC acquired a new position in Steel Dynamics during the third quarter valued at $62,000. Institutional investors and hedge funds own 82.41% of the company’s stock.
Insider Buying and Selling
In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the sale, the vice president now owns 17,100 shares of the company’s stock, valued at $2,306,106. This trade represents a 10.47 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction that occurred on 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 transaction, the senior vice president now owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. This trade represents a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,591 shares of company stock worth $3,885,938 in the last quarter. 6.00% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Check Out Our Latest Stock Analysis on Steel Dynamics
Steel Dynamics Trading Up 1.0 %
Steel Dynamics stock opened at $144.98 on Tuesday. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56. The company’s fifty day moving average price is $132.92 and its two-hundred day moving average price is $127.51. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. The company has a market capitalization of $22.07 billion, a price-to-earnings ratio of 13.12 and a beta of 1.31.
Steel Dynamics (NASDAQ:STLD – Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. The business had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same period last year, the business earned $3.47 EPS. On average, analysts forecast that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.
Steel Dynamics Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a $0.46 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a yield of 1.27%. Steel Dynamics’s payout ratio 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.
Further Reading
- Five stocks we like better than Steel Dynamics
- The Risks of Owning Bonds
- Abacus Life’s CEO on Cracking the Code of Longevity Returns
- The Significance of Brokerage Rankings in Stock Selection
- Elon Musk and Trump Push for Self-Driving Cars: 3 Stocks to Gain
- Quiet Period Expirations Explained
- Discover the 3 Best Performing Stocks That Went Public in 2024
Want to see what other hedge funds are holding STLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Steel Dynamics, Inc. (NASDAQ:STLD – Free Report).
Receive News & Ratings for Steel Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.