Amalgamated Bank Lowers Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Amalgamated Bank cut its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 37.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 28,502 shares of the basic materials company's stock after selling 17,272 shares during the quarter. Amalgamated Bank's holdings in Steel Dynamics were worth $3,594,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Asset Management One Co. Ltd. increased its holdings in Steel Dynamics by 2.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 65,516 shares of the basic materials company's stock worth $8,260,000 after acquiring an additional 1,727 shares in the last quarter. BSW Wealth Partners acquired a new stake in shares of Steel Dynamics in the third quarter valued at about $317,000. Van ECK Associates Corp increased its stake in shares of Steel Dynamics by 46.9% during the third quarter. Van ECK Associates Corp now owns 256,597 shares of the basic materials company's stock worth $33,009,000 after purchasing an additional 81,933 shares in the last quarter. Harbor Capital Advisors Inc. raised its position in shares of Steel Dynamics by 3.9% during the 3rd quarter. Harbor Capital Advisors Inc. now owns 6,650 shares of the basic materials company's stock worth $838,000 after purchasing an additional 248 shares during the last quarter. Finally, Farther Finance Advisors LLC lifted its stake in Steel Dynamics by 11.4% in the 3rd quarter. Farther Finance Advisors LLC now owns 1,609 shares of the basic materials company's stock valued at $203,000 after buying an additional 165 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

STLD has been the subject of several research reports. Bank of America upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. BMO Capital Markets increased their price objective 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 shares of Steel Dynamics from a "neutral" rating to a "buy" rating and lifted their target price for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Finally, Morgan Stanley lowered their price target 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. Four 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, Steel Dynamics currently has an average rating of "Hold" and a consensus target price of $144.29.

Insider Buying and Selling at Steel Dynamics

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

Steel Dynamics Stock Up 0.4 %

STLD stock traded up $0.60 during mid-day trading on Friday, reaching $148.55. The company had a trading volume of 1,073,793 shares, compared to its average volume of 1,351,309. The firm has a fifty day simple moving average of $126.13 and a 200 day simple moving average of $126.73. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. The company has a market capitalization of $22.92 billion, a price-to-earnings ratio of 13.44 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.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm had revenue of $4.34 billion for the quarter, compared to analysts' expectations of $4.18 billion. During the same quarter last year, the company earned $3.47 earnings per share. The firm's revenue was down 5.4% compared to the same quarter last year. Analysts forecast that Steel Dynamics, Inc. will post 10.18 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.24%. Steel Dynamics's dividend payout ratio (DPR) is presently 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.