Steel Dynamics, Inc. (NASDAQ:STLD) Shares Acquired by Greenfield Savings Bank

Greenfield Savings Bank raised its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 4.8% during the fourth quarter, HoldingsChannel reports. The firm owned 12,895 shares of the basic materials company’s stock after purchasing an additional 596 shares during the quarter. Greenfield Savings Bank’s holdings in Steel Dynamics were worth $1,471,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new position in Steel Dynamics during the 3rd quarter valued at approximately $25,000. ORG Wealth Partners LLC purchased a new stake in shares of Steel Dynamics in the 4th quarter valued at $28,000. Private Trust Co. NA boosted its holdings in shares of Steel Dynamics by 532.6% in the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 245 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Steel Dynamics in the 3rd quarter valued at $61,000. Finally, Quest Partners LLC purchased a new stake in shares of Steel Dynamics in the 3rd quarter valued at $62,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Activity

In related news, 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 transaction of $277,500.00. Following the completion of the sale, the senior vice president now directly owns 21,101 shares in the company, valued at approximately $2,927,763.75. This trade represents a 8.66 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Glenn Pushis sold 17,941 shares of the firm’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the sale, the senior vice president now owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. The trade was a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,591 shares of company stock worth $3,885,938 over the last three months. Insiders own 6.00% of the company’s stock.

Wall Street Analyst Weigh In

STLD has been the topic of several recent research reports. BMO Capital Markets upped their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Morgan Stanley lowered 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 report on Wednesday, September 18th. Jefferies Financial Group lowered their price target on shares of Steel Dynamics from $145.00 to $125.00 and set a “hold” rating on the stock in a report on Monday, January 6th. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price target on the stock. Finally, Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, Steel Dynamics currently has an average rating of “Hold” and a consensus price target of $141.13.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $123.27 on Tuesday. The firm has a 50-day simple moving average of $130.87 and a 200-day simple moving average of $126.54. The stock has a market capitalization of $18.77 billion, a price-to-earnings ratio of 11.16 and a beta of 1.36. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. The business had revenue of $4.34 billion during 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 business earned $3.47 earnings per share. On average, equities analysts predict that Steel Dynamics, Inc. will post 10.09 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.49%. The ex-dividend date of this dividend was Tuesday, December 31st. Steel Dynamics’s dividend payout ratio (DPR) is 16.65%.

Steel Dynamics Profile

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.