Steel Dynamics, Inc. (NASDAQ:STLD) Stake Raised by Bridgewater Associates LP

Bridgewater Associates LP grew its holdings in Steel Dynamics, Inc. (NASDAQ:STLDFree Report) by 119.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 200,662 shares of the basic materials company’s stock after purchasing an additional 109,158 shares during the period. Bridgewater Associates LP owned about 0.13% of Steel Dynamics worth $25,299,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in STLD. Innealta Capital LLC acquired a new stake in shares of Steel Dynamics during the 2nd quarter valued at $33,000. Private Trust Co. NA boosted its position in Steel Dynamics by 532.6% during the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 245 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Steel Dynamics in the second quarter valued at about $41,000. Cullen Frost Bankers Inc. grew its stake in Steel Dynamics by 33.3% in the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 100 shares in the last quarter. Finally, HHM Wealth Advisors LLC acquired a new position in Steel Dynamics in the 2nd quarter worth about $52,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Stock Up 0.1 %

Shares of NASDAQ:STLD opened at $143.83 on Thursday. The company’s fifty day moving average is $133.50 and its 200-day moving average is $127.57. 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 52 week low of $104.60 and a 52 week high of $155.56. The company has a market capitalization of $21.90 billion, a PE ratio of 13.02 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLDGet Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.07. The firm had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.47 earnings per share. Equities research analysts predict that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on STLD. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. BMO Capital Markets boosted 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. Morgan Stanley dropped their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $144.29.

View Our Latest Report on STLD

Insiders Place Their Bets

In related news, SVP Miguel Alvarez sold 6,650 shares of the firm’s stock in a transaction dated Wednesday, November 13th. The stock was 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Chad Bickford sold 2,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $134.86, for a total transaction of $269,720.00. Following the transaction, the vice president now owns 17,100 shares in the company, valued at approximately $2,306,106. The trade was a 10.47 % 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. 6.10% of the stock is currently owned by corporate insiders.

Steel Dynamics Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

Receive News & Ratings for Steel Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.