Barclays PLC Buys 80,262 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Barclays PLC boosted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 21.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 448,942 shares of the basic materials company's stock after buying an additional 80,262 shares during the period. Barclays PLC owned approximately 0.29% of Steel Dynamics worth $56,603,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Nomura Asset Management Co. Ltd. increased its position in shares of Steel Dynamics by 7.0% during the third quarter. Nomura Asset Management Co. Ltd. now owns 72,467 shares of the basic materials company's stock valued at $9,137,000 after buying an additional 4,759 shares during the period. iSAM Funds UK Ltd bought a new stake in Steel Dynamics during the 3rd quarter worth approximately $419,000. iA Global Asset Management Inc. lifted its stake in Steel Dynamics by 48.0% in the 3rd quarter. iA Global Asset Management Inc. now owns 13,262 shares of the basic materials company's stock worth $1,672,000 after purchasing an additional 4,302 shares in the last quarter. Wellington Management Group LLP lifted its stake in Steel Dynamics by 99.9% in the 3rd quarter. Wellington Management Group LLP now owns 150,738 shares of the basic materials company's stock worth $19,005,000 after purchasing an additional 75,343 shares in the last quarter. Finally, Wahed Invest LLC boosted its holdings in Steel Dynamics by 10.1% in the 3rd quarter. Wahed Invest LLC now owns 3,607 shares of the basic materials company's stock valued at $455,000 after purchasing an additional 331 shares during the period. Institutional investors own 82.41% of the company's stock.

Insider Activity

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the firm's stock in a transaction on 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 sale, the senior vice president now owns 146,693 shares of the company's stock, valued at $19,523,371.37. This trade represents a 10.90 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard A. Poinsatte sold 2,000 shares of the business's stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $138.75, for a total transaction of $277,500.00. Following the completion of the transaction, the senior vice president now owns 21,101 shares in the company, valued at $2,927,763.75. The trade was a 8.66 % 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 valued at $3,885,938. Insiders own 6.00% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price target on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. UBS Group reaffirmed a "neutral" rating and issued a $149.00 price target (up previously from $145.00) on shares of Steel Dynamics in a report on Thursday. The Goldman Sachs Group initiated coverage on Steel Dynamics in a report on Monday, December 2nd. They set a "neutral" rating and a $155.00 price objective for the company. Bank of America upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and upped their price objective for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Finally, 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. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, Steel Dynamics presently has an average rating of "Hold" and an average price target of $146.13.

Steel Dynamics Price Performance

NASDAQ STLD traded down $4.54 on Friday, reaching $122.37. 1,651,059 shares of the company's stock traded hands, compared to its average volume of 1,281,278. The stock has a market cap of $18.63 billion, a PE ratio of 11.49 and a beta of 1.31. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The stock has a 50-day simple moving average of $137.23 and a 200 day simple moving average of $128.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.98 by $0.07. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm's quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.47 EPS. As a group, research analysts predict 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. Stockholders of record on Tuesday, December 31st will be issued a $0.46 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.50%. Steel Dynamics's dividend 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.