Cerity Partners LLC Acquires 28,131 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Cerity Partners LLC lifted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 41.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 95,486 shares of the basic materials company’s stock after buying an additional 28,131 shares during the period. Cerity Partners LLC owned approximately 0.06% of Steel Dynamics worth $12,039,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. SVB Wealth LLC bought a new stake in Steel Dynamics in the 1st quarter worth approximately $250,000. B. Riley Wealth Advisors Inc. purchased a new stake in Steel Dynamics during the first quarter valued at $337,000. LBP AM SA lifted its holdings in Steel Dynamics by 26.5% in the first quarter. LBP AM SA now owns 21,966 shares of the basic materials company’s stock valued at $3,256,000 after acquiring an additional 4,599 shares during the period. National Wealth Management Group LLC purchased a new position in Steel Dynamics in the first quarter worth about $536,000. Finally, Wahed Invest LLC grew its stake in shares of Steel Dynamics by 9.4% during the 1st quarter. Wahed Invest LLC now owns 2,908 shares of the basic materials company’s stock valued at $431,000 after purchasing an additional 249 shares during the period. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Trading Down 0.9 %

Shares of Steel Dynamics stock opened at $143.63 on Wednesday. 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 debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. The company has a market capitalization of $21.87 billion, a P/E ratio of 12.98 and a beta of 1.31. The company has a fifty day moving average of $132.92 and a 200 day moving average of $127.51.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data 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 firm had revenue of $4.34 billion during 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 business’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.47 earnings per share. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

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 given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.28%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics’s payout ratio is currently 16.65%.

Analyst Upgrades and Downgrades

STLD has been the topic of several recent research reports. JPMorgan Chase & Co. increased 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. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Morgan Stanley cut 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 report on Wednesday, September 18th. BMO Capital Markets raised their target price on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. Finally, Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat, Steel Dynamics currently has an average rating of “Hold” and an average target price of $144.29.

Insider Transactions at Steel Dynamics

In related news, SVP Glenn Pushis sold 17,941 shares of the business’s stock in a transaction dated 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 directly owns 146,693 shares in the company, valued at approximately $19,523,371.37. The trade was a 10.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Miguel Alvarez sold 6,650 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the transaction, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 28,591 shares of company stock valued at $3,885,938. 6.00% of the stock is currently owned by corporate insiders.

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.