Boston Common Asset Management LLC Raises Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Boston Common Asset Management LLC raised its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 45.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 66,493 shares of the basic materials company’s stock after buying an additional 20,721 shares during the quarter. Boston Common Asset Management LLC’s holdings in Steel Dynamics were worth $7,585,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of STLD. Wilmington Savings Fund Society FSB purchased a new position in shares of Steel Dynamics during the 3rd quarter worth $25,000. ORG Wealth Partners LLC purchased a new position in shares of Steel Dynamics during the 4th quarter worth $28,000. Private Trust Co. NA grew its holdings in shares of Steel Dynamics by 532.6% during the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 245 shares during the period. Brooklyn Investment Group purchased a new position in Steel Dynamics during the 3rd quarter valued at about $61,000. Finally, Quest Partners LLC purchased a new position in Steel Dynamics during the 3rd quarter valued at about $62,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the transaction, the senior vice president now directly owns 21,101 shares in the company, valued at approximately $2,927,763.75. This trade represents a 8.66 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the transaction, the senior vice president now owns 116,949 shares in the company, valued at $16,723,707. This trade represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 28,591 shares of company stock worth $3,885,938 in the last quarter. 6.10% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently commented on STLD shares. Citigroup lowered their target price on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a report on Thursday, December 19th. Jefferies Financial Group lowered their target price on Steel Dynamics from $145.00 to $125.00 and set a “hold” rating for the company in a report on Monday, January 6th. The Goldman Sachs Group started coverage on Steel Dynamics in a report on Monday, December 2nd. They set a “neutral” rating and a $155.00 target price for the company. BMO Capital Markets increased their price target on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. reduced their price target on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating on the stock in a research report on Friday. Six investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $140.88.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $125.83 on Friday. The stock’s 50-day simple moving average is $129.13 and its 200-day simple moving average is $126.46. The firm has a market capitalization of $19.16 billion, a PE ratio of 11.39 and a beta of 1.36. 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 fifty-two week low of $104.60 and a fifty-two week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last released 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. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.47 EPS. As a group, equities research analysts forecast that Steel Dynamics, Inc. will post 9.78 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a yield of 1.46%. Steel Dynamics’s dividend payout ratio is presently 16.65%.

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.