Stiles Financial Services Inc Has $2.49 Million Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Stiles Financial Services Inc raised its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 5.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 19,737 shares of the basic materials company’s stock after purchasing an additional 984 shares during the quarter. Stiles Financial Services Inc’s holdings in Steel Dynamics were worth $2,489,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Janney Montgomery Scott LLC increased its position in shares of Steel Dynamics by 9.7% in the first quarter. Janney Montgomery Scott LLC now owns 20,779 shares of the basic materials company’s stock worth $3,080,000 after purchasing an additional 1,845 shares during the period. Larson Financial Group LLC bought a new position in Steel Dynamics in the first quarter valued at about $25,000. Csenge Advisory Group grew its position in Steel Dynamics by 9.0% in the first quarter. Csenge Advisory Group now owns 2,858 shares of the basic materials company’s stock valued at $424,000 after acquiring an additional 235 shares during the last quarter. Empirical Finance LLC grew its position in Steel Dynamics by 2.8% in the first quarter. Empirical Finance LLC now owns 6,686 shares of the basic materials company’s stock valued at $991,000 after acquiring an additional 181 shares during the last quarter. Finally, Envestnet Portfolio Solutions Inc. grew its position in Steel Dynamics by 5.5% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,938 shares of the basic materials company’s stock valued at $436,000 after acquiring an additional 153 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Insider Buying and Selling

In other news, VP Chad Bickford sold 2,000 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $134.86, for a total transaction of $269,720.00. Following the transaction, the vice president now directly owns 17,100 shares in the company, valued at approximately $2,306,106. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Chad Bickford sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total transaction of $269,720.00. Following the transaction, the vice president now directly owns 17,100 shares in the company, valued at $2,306,106. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Glenn Pushis sold 17,941 shares of the firm’s 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 owns 146,693 shares in the company, valued at approximately $19,523,371.37. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by insiders.

Steel Dynamics Trading Down 0.3 %

NASDAQ STLD opened at $147.50 on Friday. The business has a 50 day moving average price of $125.55 and a 200-day moving average price of $126.72. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56. The company has a market cap of $22.76 billion, a price-to-earnings ratio of 13.39 and a beta of 1.31. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31.

Steel Dynamics (NASDAQ:STLD) last announced 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. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter in the prior year, the company posted $3.47 earnings per share. Steel Dynamics’s revenue was down 5.4% compared to the same quarter last year. As a group, equities analysts expect that Steel Dynamics, Inc. will post 10.22 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a dividend of $0.46 per share. The ex-dividend date was Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.25%. Steel Dynamics’s dividend payout ratio (DPR) is 16.65%.

Analysts Set New Price Targets

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

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.