Atria Investments Inc Grows Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Atria Investments Inc raised its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 30.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,335 shares of the basic materials company's stock after purchasing an additional 4,319 shares during the quarter. Atria Investments Inc's holdings in Steel Dynamics were worth $2,312,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STLD. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Steel Dynamics by 5.5% during the first quarter. Envestnet Portfolio Solutions Inc. now owns 2,938 shares of the basic materials company's stock valued at $436,000 after purchasing an additional 153 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Steel Dynamics by 6.1% during the first quarter. Sei Investments Co. now owns 108,112 shares of the basic materials company's stock worth $16,026,000 after purchasing an additional 6,263 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in shares of Steel Dynamics by 11.8% during the first quarter. Avantax Advisory Services Inc. now owns 3,466 shares of the basic materials company's stock worth $514,000 after purchasing an additional 365 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Steel Dynamics by 18.4% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 175,800 shares of the basic materials company's stock worth $26,059,000 after purchasing an additional 27,301 shares during the last quarter. Finally, Orion Portfolio Solutions LLC grew its position in Steel Dynamics by 7.4% during the first quarter. Orion Portfolio Solutions LLC now owns 9,039 shares of the basic materials company's stock valued at $1,340,000 after buying an additional 623 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Steel Dynamics news, SVP Miguel Alvarez sold 6,650 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction 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. The trade was a 5.38 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Glenn Pushis sold 17,941 shares of the company's 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 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. The trade was a 10.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 26,591 shares of company stock valued at $3,608,438 in the last ninety days. Company insiders own 6.00% of the company's stock.

Steel Dynamics Trading Up 1.0 %

Shares of Steel Dynamics stock traded up $1.37 on Friday, reaching $139.18. The company had a trading volume of 550,149 shares, compared to its average volume of 1,265,784. The firm's 50 day moving average price is $128.41 and its two-hundred day moving average price is $127.08. The firm has a market cap of $21.19 billion, a PE ratio of 12.47 and a beta of 1.31. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-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 - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.07. The business had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business's revenue was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm earned $3.47 EPS. Sell-side analysts predict that Steel Dynamics, Inc. will post 10.1 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 paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics's payout ratio is currently 16.65%.

Analyst Upgrades and Downgrades

Several analysts recently commented on STLD shares. JPMorgan Chase & Co. raised their price target 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. BMO Capital Markets lifted their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a "market perform" rating in a research report on Friday, October 18th. 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. UBS Group upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Finally, Bank of America upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Steel Dynamics has an average rating of "Hold" and an average target price of $144.29.

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.