Steel Dynamics, Inc. (NASDAQ:STLD) Shares Acquired by Atria Investments Inc

Atria Investments Inc lifted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 30.8% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,335 shares of the basic materials company’s stock after buying an additional 4,319 shares during the period. Atria Investments Inc’s holdings in Steel Dynamics were worth $2,312,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Kerusso Capital Management LLC acquired a new stake in Steel Dynamics in the third quarter valued at about $1,774,000. Klingman & Associates LLC acquired a new stake in Steel Dynamics in the third quarter valued at about $466,000. Verdence Capital Advisors LLC lifted its position in Steel Dynamics by 0.8% in the third quarter. Verdence Capital Advisors LLC now owns 16,396 shares of the basic materials company’s stock valued at $2,067,000 after purchasing an additional 127 shares during the period. Stiles Financial Services Inc increased its holdings in Steel Dynamics by 5.2% in the third quarter. Stiles Financial Services Inc now owns 19,737 shares of the basic materials company’s stock valued at $2,489,000 after buying an additional 984 shares in the last quarter. Finally, Concurrent Investment Advisors LLC purchased a new position in Steel Dynamics in the third quarter valued at about $227,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Down 2.9 %

STLD stock opened at $137.81 on Friday. The stock has a market capitalization of $20.98 billion, a P/E ratio of 12.47 and a beta of 1.31. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56. The company has a 50 day moving average price of $128.41 and a two-hundred day moving average price of $127.08.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.98 by $0.07. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. Steel Dynamics’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the company earned $3.47 EPS. As a group, sell-side analysts expect that Steel Dynamics, Inc. will post 10.18 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be paid a dividend of $0.46 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.34%. Steel Dynamics’s dividend payout ratio is presently 16.65%.

Insider Activity

In related news, SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction on Monday, October 21st. The shares were 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 of the company’s stock, valued at approximately $19,523,371.37. This represents a 10.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Chad Bickford sold 2,000 shares of the company’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $134.86, for a total transaction of $269,720.00. Following the sale, the vice president now directly owns 17,100 shares of the company’s stock, valued at approximately $2,306,106. This trade represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 26,591 shares of company stock valued at $3,608,438 in the last ninety days. Company insiders own 6.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on STLD shares. BMO Capital Markets increased their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research note on Friday, October 18th. Morgan Stanley dropped their price objective on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 18th. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. Finally, UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and a consensus price target of $144.29.

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.