Brookstone Capital Management Sells 3,131 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Brookstone Capital Management trimmed its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 34.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,849 shares of the basic materials company's stock after selling 3,131 shares during the period. Brookstone Capital Management's holdings in Steel Dynamics were worth $667,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Holocene Advisors LP lifted its stake in shares of Steel Dynamics by 85.8% during the third quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company's stock valued at $289,400,000 after acquiring an additional 1,060,007 shares during the period. Pacer Advisors Inc. increased its holdings in Steel Dynamics by 7.0% in the second quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company's stock valued at $276,891,000 after purchasing an additional 140,042 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in Steel Dynamics by 1.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company's stock valued at $228,999,000 after purchasing an additional 22,390 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Steel Dynamics by 6.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company's stock valued at $194,933,000 after purchasing an additional 96,122 shares during the last quarter. Finally, Nordea Investment Management AB increased its holdings in shares of Steel Dynamics by 22.4% in the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company's stock worth $158,487,000 after acquiring an additional 253,802 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company's stock.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 6,650 shares of the firm's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total transaction of $950,950.00. Following the sale, 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 transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the completion of the transaction, the senior vice president now owns 21,101 shares in the company, valued at approximately $2,927,763.75. This represents a 8.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,591 shares of company stock valued at $3,885,938 over the last three months. Company insiders own 6.10% of the company's stock.

Wall Street Analysts Forecast Growth

STLD has been the subject of several recent analyst reports. The Goldman Sachs Group initiated coverage on Steel Dynamics in a report on Monday, December 2nd. They issued a "neutral" rating and a $155.00 price target for the company. UBS Group reiterated a "neutral" rating and set a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Jefferies Financial Group lowered their price target on Steel Dynamics from $145.00 to $125.00 and set a "hold" rating on the stock in a research report on Monday, January 6th. JPMorgan Chase & Co. reduced their target price on Steel Dynamics from $134.00 to $132.00 and set a "neutral" rating for the company in a research note on Friday. Finally, BMO Capital Markets lifted their target price on Steel Dynamics from $130.00 to $135.00 and gave the stock a "market perform" rating in a research note on Friday, October 18th. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, Steel Dynamics has a consensus rating of "Hold" and a consensus price target of $140.88.

Steel Dynamics Stock Up 0.7 %

NASDAQ:STLD traded up $0.83 on Friday, hitting $125.83. The stock had a trading volume of 1,359,763 shares, compared to its average volume of 1,395,611. The business's fifty day moving average is $129.13 and its 200 day moving average is $126.46. The company has a market cap of $19.16 billion, a PE ratio of 11.39 and a beta of 1.36. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings data 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 return on equity of 19.82% and a net margin of 9.80%. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same period in the prior year, the company earned $3.47 earnings per share. Steel Dynamics's revenue was down 5.4% compared to the same quarter last year. On average, equities research analysts expect that Steel Dynamics, Inc. will post 9.78 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date was Tuesday, December 31st. Steel Dynamics's 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.