Fifth Third Wealth Advisors LLC Acquires 252 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Fifth Third Wealth Advisors LLC boosted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 11.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,497 shares of the basic materials company’s stock after buying an additional 252 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Steel Dynamics were worth $285,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in STLD. Wilmington Savings Fund Society FSB bought a new position in shares of Steel Dynamics during the 3rd quarter valued at approximately $25,000. ORG Wealth Partners LLC bought a new position in Steel Dynamics during the fourth quarter valued at $28,000. Private Trust Co. NA increased 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 worth $37,000 after buying an additional 245 shares during the last quarter. Brooklyn Investment Group bought a new stake in shares of Steel Dynamics in the third quarter valued at $61,000. Finally, Quest Partners LLC purchased a new position in shares of Steel Dynamics during the 3rd quarter valued at $62,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analysts Set New Price Targets

STLD has been the topic of a number of research reports. JPMorgan Chase & Co. lowered their price objective on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a research note on Friday. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price objective for the company. UBS Group restated a “neutral” rating and set a $149.00 target price (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. Finally, Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, Steel Dynamics currently has an average rating of “Hold” and a consensus price target of $140.88.

Steel Dynamics Trading Up 0.7 %

Shares of STLD stock opened at $125.83 on Friday. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56. The business’s fifty day moving average is $129.13 and its 200 day moving average is $126.46. 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 $19.16 billion, a PE ratio of 11.39 and a beta of 1.36.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. The firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The company’s revenue for the quarter was down 5.4% on a year-over-year basis. During the same quarter last year, the company posted $3.47 EPS. On average, equities research analysts anticipate that Steel Dynamics, Inc. will post 9.78 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.46 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.84 annualized dividend and a yield of 1.46%. Steel Dynamics’s payout ratio is presently 16.65%.

Insider Transactions at Steel Dynamics

In related news, SVP Glenn Pushis sold 17,941 shares of the 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 transaction, the senior vice president now owns 146,693 shares of the company’s stock, valued at $19,523,371.37. This represents a 10.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Richard A. Poinsatte sold 2,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the sale, the senior vice president now owns 21,101 shares in the company, valued at $2,927,763.75. The trade was a 8.66 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 28,591 shares of company stock valued at $3,885,938 in the last quarter. Insiders own 6.10% of the company’s stock.

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.