Ritholtz Wealth Management Has $613,000 Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Ritholtz Wealth Management grew its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 24.6% during the fourth quarter, Holdings Channel.com reports. The firm owned 5,377 shares of the basic materials company’s stock after acquiring an additional 1,060 shares during the period. Ritholtz Wealth Management’s holdings in Steel Dynamics were worth $613,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in STLD. Wilmington Savings Fund Society FSB bought a new position in shares of Steel Dynamics in the third quarter valued at about $25,000. ORG Wealth Partners LLC acquired a new stake in Steel Dynamics in the 4th quarter valued at about $28,000. Private Trust Co. NA raised its stake in shares of 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 acquiring an additional 245 shares during the last quarter. Brooklyn Investment Group acquired a new position in shares of Steel Dynamics during the third quarter worth approximately $61,000. Finally, Quest Partners LLC bought a new stake in shares of Steel Dynamics during the third quarter valued at approximately $62,000. Institutional investors own 82.41% of the company’s stock.

Insider Transactions at Steel Dynamics

In other news, VP Chad Bickford sold 2,000 shares of the firm’s stock in a transaction dated 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 owns 17,100 shares of the company’s stock, valued at $2,306,106. This trade represents a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction dated 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 owns 116,949 shares in the company, valued at $16,723,707. This trade represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 10,650 shares of company stock valued at $1,498,170 over the last three months. 6.10% of the stock is currently owned by corporate insiders.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $125.83 on Tuesday. The stock has a market cap of $19.16 billion, a PE ratio of 11.39 and a beta of 1.36. The stock has a 50-day moving average of $128.69 and a 200-day moving average of $126.43. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56.

Steel Dynamics Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on STLD shares. UBS Group reaffirmed a “neutral” rating and set a $149.00 price objective (up previously from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. JPMorgan Chase & Co. cut 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. The Goldman Sachs Group assumed coverage on Steel Dynamics in a research report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price objective for the company. BMO Capital Markets upped their target price 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. Finally, BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $140.88.

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.