CX Institutional Buys 3,824 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

CX Institutional grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 45.0% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 12,313 shares of the basic materials company’s stock after acquiring an additional 3,824 shares during the quarter. CX Institutional’s holdings in Steel Dynamics were worth $1,405,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Harbour Capital Advisors LLC increased its holdings in shares of Steel Dynamics by 133.7% in the 4th quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company’s stock worth $1,301,000 after purchasing an additional 6,579 shares in the last quarter. Oak Thistle LLC purchased a new position in shares of Steel Dynamics during the fourth quarter valued at approximately $1,725,000. Larson Financial Group LLC lifted its position in Steel Dynamics by 9,465.5% during the third quarter. Larson Financial Group LLC now owns 18,844 shares of the basic materials company’s stock valued at $2,376,000 after purchasing an additional 18,647 shares during the period. Nordea Investment Management AB boosted its holdings in Steel Dynamics by 22.4% in the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after purchasing an additional 253,802 shares during the last quarter. Finally, World Investment Advisors LLC bought a new stake in Steel Dynamics in the 3rd quarter worth approximately $15,880,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Transactions at Steel Dynamics

In related news, SVP Miguel Alvarez sold 6,650 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the transaction, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. This represents a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Chad Bickford sold 2,000 shares of Steel Dynamics 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 completion of the sale, the vice president now directly owns 17,100 shares in the company, valued at approximately $2,306,106. The trade was a 10.47 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 10,650 shares of company stock valued at $1,498,170. 6.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research firms have recently issued reports on STLD. JPMorgan Chase & Co. dropped their price target on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a research note on Friday, January 17th. UBS Group reissued a “neutral” rating and issued a $149.00 target price (up from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. BMO Capital Markets upped their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Bank of America upgraded shares of 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. Finally, StockNews.com cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $143.38.

Steel Dynamics Stock Down 0.0 %

STLD opened at $122.35 on Friday. The stock has a market cap of $18.63 billion, a price-to-earnings ratio of 12.48 and a beta of 1.36. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. The firm’s fifty day moving average is $127.27 and its 200 day moving average is $126.37. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56.

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

Steel Dynamics Announces Dividend

The business also recently disclosed 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. This represents a $1.84 annualized dividend and a dividend yield of 1.50%. The ex-dividend date was Tuesday, December 31st. Steel Dynamics’s payout ratio is currently 18.78%.

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.