Sanctuary Advisors LLC Acquires 1,596 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Sanctuary Advisors LLC boosted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 10.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,881 shares of the basic materials company’s stock after purchasing an additional 1,596 shares during the period. Sanctuary Advisors LLC’s holdings in Steel Dynamics were worth $2,128,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Innealta Capital LLC purchased a new stake in Steel Dynamics during the second quarter worth about $33,000. Private Trust Co. NA lifted its stake in Steel Dynamics by 532.6% in the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 245 shares during the last quarter. Cullen Frost Bankers Inc. increased its position in Steel Dynamics by 33.3% in the second 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 bought a new stake in shares of Steel Dynamics in the second quarter valued at $52,000. Finally, Brooklyn Investment Group bought a new position in shares of Steel Dynamics during the 3rd quarter worth $61,000. Institutional investors own 82.41% of the company’s stock.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at $19,523,371.37. The trade was a 10.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard A. Poinsatte sold 2,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the sale, the senior vice president now directly owns 21,101 shares of the company’s stock, valued at approximately $2,927,763.75. This trade represents a 8.66 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,591 shares of company stock valued at $3,885,938. 6.00% of the stock is currently owned by corporate insiders.

Steel Dynamics Price Performance

STLD stock opened at $116.76 on Thursday. The firm has a 50 day simple moving average of $136.51 and a two-hundred day simple moving average of $127.67. 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 stock has a market cap of $17.78 billion, a PE ratio of 10.57 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.

Steel Dynamics (NASDAQ:STLD) last issued 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 firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The company’s revenue was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.47 earnings per share. On average, analysts predict that Steel Dynamics, Inc. will post 10.09 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.58%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s payout ratio is currently 16.65%.

Wall Street Analysts Forecast Growth

Several research firms have commented on STLD. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. Morgan Stanley dropped their target price on 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. UBS Group reiterated a “neutral” rating and set a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. BMO Capital Markets lifted their target price on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, The Goldman Sachs Group began coverage on shares of Steel Dynamics in a research report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price objective for the company. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $146.13.

Steel Dynamics Company 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.