CreativeOne Wealth LLC Acquires 309 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

CreativeOne Wealth LLC boosted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 17.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,091 shares of the basic materials company’s stock after buying an additional 309 shares during the quarter. CreativeOne Wealth LLC’s holdings in Steel Dynamics were worth $264,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Innealta Capital LLC bought a new stake in shares of Steel Dynamics during the 2nd quarter valued at $33,000. Private Trust Co. NA increased its holdings in Steel Dynamics by 532.6% in the 3rd 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Steel Dynamics during the 2nd quarter worth approximately $41,000. Cullen Frost Bankers Inc. lifted its holdings in 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 purchasing an additional 100 shares in the last quarter. Finally, HHM Wealth Advisors LLC purchased a new position in shares of Steel Dynamics in the second quarter valued at about $52,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STLD has been the subject of a number of recent research reports. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a research note on Monday. They issued a “neutral” rating and a $155.00 price objective for the company. BMO Capital Markets boosted their target price on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Bank of America upgraded 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. Morgan Stanley dropped their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Finally, UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, Steel Dynamics currently has a consensus rating of “Hold” and an average price target of $145.63.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the sale, the senior vice president now directly owns 146,693 shares in the company, valued at approximately $19,523,371.37. This trade represents a 10.90 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Richard A. Poinsatte sold 2,000 shares of the business’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the sale, the senior vice president now owns 21,101 shares in the company, valued at $2,927,763.75. The trade was a 8.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,591 shares of company stock valued at $3,885,938. 6.00% of the stock is currently owned by insiders.

Steel Dynamics Price Performance

Shares of STLD stock opened at $144.81 on Tuesday. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The stock has a fifty day simple moving average of $135.06 and a two-hundred day simple moving average of $127.75. The stock has a market capitalization of $22.05 billion, a price-to-earnings ratio of 13.10 and a beta of 1.31. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period last year, the firm earned $3.47 earnings per share. On average, analysts predict that Steel Dynamics, Inc. will post 10.1 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a $0.46 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a yield of 1.27%. Steel Dynamics’s dividend payout ratio is presently 16.65%.

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.