BNP Paribas Financial Markets Purchases 8,756 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

BNP Paribas Financial Markets raised its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 4.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 221,376 shares of the basic materials company's stock after acquiring an additional 8,756 shares during the period. BNP Paribas Financial Markets owned about 0.15% of Steel Dynamics worth $27,911,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Innealta Capital LLC acquired a new position in shares of Steel Dynamics in the 2nd quarter valued at approximately $33,000. Private Trust Co. NA lifted its stake in Steel Dynamics by 532.6% in 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 in the last quarter. Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Steel Dynamics in the second quarter valued at approximately $41,000. Cullen Frost Bankers Inc. increased its position in shares of Steel Dynamics by 33.3% during the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company's stock worth $52,000 after acquiring an additional 100 shares in the last quarter. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Steel Dynamics during the second quarter worth $52,000. 82.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on STLD shares. Bank of America raised Steel Dynamics from a "neutral" rating to a "buy" rating and lifted their target price for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. Morgan Stanley cut their price objective 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 raised shares of Steel Dynamics from a "neutral" rating to a "buy" rating and raised their target price for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. BMO Capital Markets boosted their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a "market perform" rating in a research report on Friday, October 18th. Finally, JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $129.00 to $134.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, Steel Dynamics presently has an average rating of "Hold" and a consensus target price of $144.29.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the business's 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 sale, the senior vice president now owns 146,693 shares of the company's stock, valued at $19,523,371.37. The trade was a 10.90 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Chad Bickford sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total transaction of $269,720.00. Following the transaction, the vice president now directly owns 17,100 shares in the company, valued at $2,306,106. This represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,591 shares of company stock worth $3,885,938 over the last ninety days. Insiders own 6.00% of the company's stock.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock traded up $1.44 during trading on Friday, hitting $145.27. 552,239 shares of the stock were exchanged, compared to its average volume of 1,275,027. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The company has a fifty day moving average price of $135.06 and a 200-day moving average price of $127.87. The stock has a market capitalization of $22.12 billion, a price-to-earnings ratio of 13.15 and a beta of 1.31. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results 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 for the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter in the previous year, the business earned $3.47 earnings per share. The business's revenue was down 5.4% compared to the same quarter last year. As a group, equities analysts predict that Steel Dynamics, Inc. will post 10.1 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

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 given a dividend of $0.46 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a yield of 1.27%. Steel Dynamics's dividend payout ratio (DPR) is 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.