Blueshift Asset Management LLC Takes $243,000 Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Blueshift Asset Management LLC acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,927 shares of the basic materials company’s stock, valued at approximately $243,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Innealta Capital LLC bought a new position in shares of Steel Dynamics during the 2nd quarter worth approximately $33,000. Private Trust Co. NA grew its position in Steel Dynamics by 532.6% in the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 245 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Steel Dynamics in the 2nd quarter valued at $41,000. Cullen Frost Bankers Inc. lifted its position in Steel Dynamics by 33.3% during the 2nd 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 in the last quarter. Finally, HHM Wealth Advisors LLC bought a new stake in Steel Dynamics during the 2nd quarter worth about $52,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. 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 report on Tuesday, October 1st. Morgan Stanley dropped their price objective on 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. BMO Capital Markets boosted their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price target for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Finally, JPMorgan Chase & Co. upped their target price 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $144.29.

Steel Dynamics Stock Up 0.1 %

Steel Dynamics stock opened at $143.83 on Friday. The company’s 50-day moving average price is $134.08 and its two-hundred day moving average price is $127.68. 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 stock has a market cap of $21.90 billion, a P/E ratio of 13.02 and a beta of 1.31. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the company earned $3.47 earnings per share. As a group, analysts expect that Steel Dynamics, Inc. will post 10.1 EPS for the current year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given 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 dividend yield of 1.28%. Steel Dynamics’s payout ratio is presently 16.65%.

Insider Activity at Steel Dynamics

In other news, SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction on 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 completion of the sale, the senior vice president now directly owns 146,693 shares in the company, valued at approximately $19,523,371.37. This represents a 10.90 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,000 shares of the stock in a transaction 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 approximately $2,927,763.75. This trade represents a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 28,591 shares of company stock worth $3,885,938. Corporate insiders own 6.00% of the company’s stock.

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.