Citizens Financial Group Inc. RI Invests $200,000 in Steel Dynamics, Inc. (NASDAQ:STLD)

Citizens Financial Group Inc. RI purchased a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 1,583 shares of the basic materials company’s stock, valued at approximately $200,000.

A number of other large investors also recently bought and sold shares of the stock. Pacer Advisors Inc. grew its stake in shares of Steel Dynamics by 7.0% during the 2nd quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company’s stock worth $276,891,000 after purchasing an additional 140,042 shares during the period. Thrivent Financial for Lutherans increased its holdings in Steel Dynamics by 1.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company’s stock valued at $228,999,000 after buying an additional 22,390 shares in the last quarter. LSV Asset Management raised its position in shares of Steel Dynamics by 3.9% in the second quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company’s stock worth $182,604,000 after acquiring an additional 53,532 shares during the period. AustralianSuper Pty Ltd boosted its stake in shares of Steel Dynamics by 1.8% during the 2nd quarter. AustralianSuper Pty Ltd now owns 592,255 shares of the basic materials company’s stock worth $76,697,000 after acquiring an additional 10,701 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ grew its position in shares of Steel Dynamics by 65.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company’s stock valued at $74,064,000 after acquiring an additional 225,832 shares during the period. 82.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on STLD. Morgan Stanley reduced their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. increased their price objective 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. Finally, 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 research note on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $144.29.

Insider Buying and Selling

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction 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 sale, the senior vice president now owns 146,693 shares in the company, valued at $19,523,371.37. The trade was a 10.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Chad Bickford sold 2,000 shares of the stock in a transaction 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 transaction, the vice president now owns 17,100 shares of the company’s stock, valued at approximately $2,306,106. This represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,591 shares of company stock worth $3,885,938. Insiders own 6.00% of the company’s stock.

Steel Dynamics Trading Down 1.0 %

Shares of STLD stock opened at $143.57 on Monday. The stock’s fifty day moving average is $132.24 and its two-hundred day moving average is $127.44. The firm has a market capitalization of $21.86 billion, a P/E ratio of 12.99 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 fifty-two week low of $104.60 and a fifty-two week high of $155.56.

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

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.28%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is currently 16.65%.

About Steel Dynamics

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.