Steel Dynamics, Inc. $STLD Shares Purchased by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. raised its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.3% in the 3rd quarter, Holdings Channel reports. The fund owned 338,229 shares of the basic materials company’s stock after acquiring an additional 4,430 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Steel Dynamics were worth $47,159,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Bartlett & CO. Wealth Management LLC lifted its holdings in shares of Steel Dynamics by 24.8% during the third quarter. Bartlett & CO. Wealth Management LLC now owns 377 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 75 shares during the period. Harbour Capital Advisors LLC lifted its stake in shares of Steel Dynamics by 0.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 14,828 shares of the basic materials company’s stock worth $1,988,000 after acquiring an additional 80 shares during the period. Security Financial Services INC. boosted its holdings in shares of Steel Dynamics by 2.1% in the third quarter. Security Financial Services INC. now owns 4,675 shares of the basic materials company’s stock valued at $652,000 after acquiring an additional 94 shares in the last quarter. Blair William & Co. IL increased its stake in shares of Steel Dynamics by 5.8% during the second quarter. Blair William & Co. IL now owns 1,813 shares of the basic materials company’s stock worth $232,000 after acquiring an additional 100 shares during the period. Finally, Toth Financial Advisory Corp raised its holdings in Steel Dynamics by 50.0% during the third quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 100 shares in the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Steel Dynamics Trading Up 2.5%

NASDAQ:STLD opened at $175.11 on Friday. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $178.36. The company has a quick ratio of 1.47, a current ratio of 3.11 and a debt-to-equity ratio of 0.43. The stock has a fifty day simple moving average of $167.03 and a 200-day simple moving average of $147.08. The company has a market capitalization of $25.57 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 0.71 and a beta of 1.48.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, October 21st. The basic materials company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.11. The firm had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The firm’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.05 EPS. On average, equities research analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Investors of record on Wednesday, December 31st were given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Wednesday, December 31st. Steel Dynamics’s payout ratio is currently 26.49%.

Analyst Ratings Changes

STLD has been the topic of several recent analyst reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. Wells Fargo & Company upped their price objective on Steel Dynamics from $172.00 to $190.00 and gave the stock an “overweight” rating in a report on Monday, December 15th. JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $165.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, December 5th. BMO Capital Markets increased their price target on shares of Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Finally, Citigroup boosted their price objective on shares of Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Five investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $182.00.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of the stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the sale, the senior vice president owned 117,068 shares in the company, valued at approximately $19,057,499.72. This represents a 6.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.30% of the company’s stock.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.