Steel Dynamics, Inc. (NASDAQ:STLD) Shares Purchased by Metis Global Partners LLC

Metis Global Partners LLC raised its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 18.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 16,314 shares of the basic materials company’s stock after acquiring an additional 2,527 shares during the quarter. Metis Global Partners LLC’s holdings in Steel Dynamics were worth $2,057,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in STLD. Innealta Capital LLC acquired a new stake in shares of Steel Dynamics in the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Steel Dynamics during the second quarter valued at approximately $41,000. Cullen Frost Bankers Inc. increased its stake in shares of Steel Dynamics by 33.3% during the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 100 shares during the period. HHM Wealth Advisors LLC bought a new stake in Steel Dynamics during the second quarter worth approximately $52,000. Finally, Eagle Bay Advisors LLC bought a new stake in Steel Dynamics during the third quarter worth approximately $64,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Activity

In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the transaction, the vice president now directly owns 17,100 shares of the company’s stock, valued at approximately $2,306,106. The trade was a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Glenn Pushis sold 17,941 shares of the business’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 completion of the transaction, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. This represents a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 26,591 shares of company stock worth $3,608,438. Corporate insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages recently weighed in on STLD. BMO Capital Markets raised their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a report on Friday, October 18th. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. JPMorgan Chase & Co. raised their target price on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a report on Friday, October 18th. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. Finally, Morgan Stanley decreased their price objective on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 18th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $144.29.

Steel Dynamics Stock Performance

Shares of STLD opened at $139.41 on Friday. The company has a market capitalization of $21.22 billion, a PE ratio of 12.62 and a beta of 1.31. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. The company’s fifty day moving average price is $128.98 and its 200 day moving average price is $127.11.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.07. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the business posted $3.47 EPS. As a group, analysts expect that Steel Dynamics, Inc. will post 10.1 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.46 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.32%. Steel Dynamics’s dividend payout ratio (DPR) is currently 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.