Brooklyn Investment Group Makes New $61,000 Investment in Steel Dynamics, Inc. (NASDAQ:STLD)

Brooklyn Investment Group purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm purchased 482 shares of the basic materials company’s stock, valued at approximately $61,000.

Several other institutional investors and hedge funds have also bought and sold shares of STLD. Innealta Capital LLC purchased a new stake in Steel Dynamics in the 2nd quarter worth approximately $33,000. Private Trust Co. NA raised its stake in Steel Dynamics by 532.6% during the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after buying an additional 245 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. purchased a new position in Steel Dynamics during the second quarter valued at $41,000. Cullen Frost Bankers Inc. increased its holdings 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 purchasing an additional 100 shares in the last quarter. Finally, HHM Wealth Advisors LLC bought a new stake in shares of Steel Dynamics in the 2nd quarter worth $52,000. 82.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Steel Dynamics

In related news, VP Chad Bickford sold 2,000 shares of Steel Dynamics stock in a transaction dated Monday, October 28th. The stock was 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the transaction, the senior vice president now owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. This represents a 10.90 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 28,591 shares of company stock worth $3,885,938. Insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently commented on STLD shares. Morgan Stanley cut 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. 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 report 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 report on Tuesday, September 3rd. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Finally, BMO Capital Markets upped their price objective on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $144.29.

Steel Dynamics Trading Up 0.1 %

Shares of NASDAQ STLD opened at $143.83 on Friday. The business’s 50 day moving average price is $134.08 and its 200-day moving average price is $127.68. The company has a market cap of $21.90 billion, a price-to-earnings ratio of 13.02 and a beta of 1.31. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. 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 (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.18 billion. During the same quarter last year, the firm earned $3.47 EPS. The business’s quarterly revenue was down 5.4% on a year-over-year basis. On average, sell-side analysts expect that Steel Dynamics, Inc. will post 10.1 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.28%. Steel Dynamics’s payout ratio is currently 16.65%.

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.