Capital Asset Advisory Services LLC Acquires 221 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Capital Asset Advisory Services LLC increased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 12.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,064 shares of the basic materials company’s stock after acquiring an additional 221 shares during the period. Capital Asset Advisory Services LLC’s holdings in Steel Dynamics were worth $233,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Commerce Bank boosted its holdings in Steel Dynamics by 1.2% during the third quarter. Commerce Bank now owns 5,981 shares of the basic materials company’s stock worth $754,000 after buying an additional 73 shares during the last quarter. M&T Bank Corp raised its position in shares of Steel Dynamics by 0.9% in the 3rd quarter. M&T Bank Corp now owns 10,055 shares of the basic materials company’s stock valued at $1,267,000 after acquiring an additional 88 shares during the period. Atomi Financial Group Inc. boosted its stake in Steel Dynamics by 5.0% during the 4th quarter. Atomi Financial Group Inc. now owns 1,929 shares of the basic materials company’s stock worth $220,000 after acquiring an additional 91 shares during the last quarter. Covestor Ltd grew its holdings in Steel Dynamics by 10.8% during the third quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock valued at $120,000 after purchasing an additional 93 shares during the period. Finally, Greenleaf Trust increased its stake in Steel Dynamics by 2.1% in the third quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock valued at $583,000 after purchasing an additional 96 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Price Performance

NASDAQ STLD opened at $122.01 on Tuesday. The firm’s 50 day moving average is $126.90 and its 200-day moving average is $126.32. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $18.57 billion, a PE ratio of 12.45 and a beta of 1.36. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.25%. During the same quarter last year, the business earned $2.61 earnings per share. Equities research analysts anticipate that Steel Dynamics, Inc. will post 8.93 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.84 annualized dividend and a yield of 1.51%. Steel Dynamics’s dividend payout ratio (DPR) is presently 18.78%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on STLD shares. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. Citigroup decreased their target price on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. BMO Capital Markets raised their price target on Steel Dynamics from $130.00 to $135.00 and gave the stock 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 boosted their price objective for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. Finally, 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 target price on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Steel Dynamics has an average rating of “Hold” and a consensus price target of $143.38.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the completion of the transaction, the senior vice president now owns 21,101 shares of the company’s stock, valued at $2,927,763.75. This trade represents a 8.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Miguel Alvarez sold 6,650 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the sale, the senior vice president now directly owns 116,949 shares in the company, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

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.