Steel Dynamics, Inc. (NASDAQ:STLD) Shares Bought by Center For Asset Management LLC

Center For Asset Management LLC lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 3.6% during the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 3,252 shares of the basic materials company’s stock after buying an additional 113 shares during the period. Center For Asset Management LLC’s holdings in Steel Dynamics were worth $371,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in STLD. Wilmington Savings Fund Society FSB purchased a new stake in Steel Dynamics in the third quarter valued at approximately $25,000. ORG Wealth Partners LLC purchased a new stake in Steel Dynamics during the 4th quarter worth $28,000. Private Trust Co. NA lifted its stake in shares of Steel Dynamics by 532.6% during the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 245 shares in the last quarter. Brooklyn Investment Group purchased a new stake in shares of Steel Dynamics in the third quarter worth about $61,000. Finally, Quest Partners LLC acquired a new position in Steel Dynamics during the 3rd quarter worth approximately $62,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and boosted their target price for the stock from $125.00 to $145.00 in a research report on Friday. BMO Capital Markets lifted their target price on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. StockNews.com lowered Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Thursday. BNP Paribas upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. Finally, Citigroup reduced their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Steel Dynamics presently has an average rating of “Hold” and an average target price of $143.38.

Insider Buying and Selling

In related news, SVP Richard A. Poinsatte sold 2,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the sale, the senior vice president now directly owns 21,101 shares in the company, valued at $2,927,763.75. This trade represents a 8.66 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total value of $950,950.00. Following the transaction, the senior vice president now owns 116,949 shares of the company’s stock, valued at $16,723,707. This trade represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $122.35 on Monday. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The firm has a 50-day simple moving average of $127.27 and a 200 day simple moving average of $126.38. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The company has a market cap of $18.63 billion, a PE ratio of 12.48 and a beta of 1.36.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.25% and a net margin of 8.76%. During the same period last year, the firm earned $2.61 EPS. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 8.93 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.46 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.50%. Steel Dynamics’s dividend payout ratio is currently 18.78%.

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.