Navellier & Associates Inc. Has $901,000 Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Navellier & Associates Inc. trimmed its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 24.1% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 7,146 shares of the basic materials company’s stock after selling 2,265 shares during the period. Navellier & Associates Inc.’s holdings in Steel Dynamics were worth $901,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Innealta Capital LLC purchased a new position in Steel Dynamics in the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Steel Dynamics during the 2nd quarter valued at about $41,000. Cullen Frost Bankers Inc. grew its position in shares of Steel Dynamics by 33.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock worth $52,000 after buying an additional 100 shares during the last quarter. HHM Wealth Advisors LLC purchased a new position in Steel Dynamics during the 2nd quarter valued at $52,000. Finally, Quest Partners LLC bought a new position in Steel Dynamics in the third quarter worth about $62,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of the business’s stock in a transaction on 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 owns 17,100 shares in the company, valued at $2,306,106. The trade was a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Glenn Pushis sold 17,941 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the completion of the sale, the senior vice president now owns 146,693 shares in the company, valued at $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. In the last ninety days, insiders sold 28,591 shares of company stock valued at $3,885,938. 6.00% of the stock is owned by insiders.

Steel Dynamics Trading Up 1.0 %

NASDAQ STLD opened at $145.54 on Friday. The company has a market capitalization of $22.16 billion, a price-to-earnings ratio of 13.17 and a beta of 1.31. The company’s 50-day simple moving average is $131.63 and its two-hundred day simple moving average is $127.42. 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 one year low of $104.60 and a one year high of $155.56.

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 analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter last year, the company posted $3.47 earnings per share. The business’s quarterly revenue was down 5.4% on a year-over-year basis. Equities analysts forecast that Steel Dynamics, Inc. will post 10.1 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business 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 $0.46 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.26%. Steel Dynamics’s dividend payout ratio (DPR) is 16.65%.

Wall Street Analyst Weigh In

STLD has been the topic of a number of recent research reports. Morgan Stanley reduced their target price 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. JPMorgan Chase & Co. lifted their price objective on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. BMO Capital Markets lifted 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. Finally, Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Steel Dynamics currently has a consensus rating of “Hold” and an average target price of $144.29.

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.