Steel Dynamics, Inc. (NASDAQ:STLD) Shares Acquired by Commerce Bank

Commerce Bank grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) 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

STLD has been the topic of several research analyst reports. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their target price for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. Morgan Stanley dropped their price objective 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. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their target price for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. BMO Capital Markets upped their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $144.29.

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) 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.