Empirical Financial Services LLC d.b.a. Empirical Wealth Management Raises Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 9.1% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 27,373 shares of the basic materials company's stock after acquiring an additional 2,287 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management's holdings in Steel Dynamics were worth $3,123,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Harbour Capital Advisors LLC increased its stake in shares of Steel Dynamics by 133.7% in the fourth quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company's stock worth $1,301,000 after purchasing an additional 6,579 shares in the last quarter. Oak Thistle LLC purchased a new position in Steel Dynamics in the 4th quarter valued at approximately $1,725,000. Larson Financial Group LLC raised its holdings in Steel Dynamics by 9,465.5% during the 3rd quarter. Larson Financial Group LLC now owns 18,844 shares of the basic materials company's stock valued at $2,376,000 after acquiring an additional 18,647 shares during the period. Nordea Investment Management AB lifted its holdings in Steel Dynamics by 22.4% during the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company's stock worth $158,487,000 after purchasing an additional 253,802 shares in the last quarter. Finally, World Investment Advisors LLC bought a new position in shares of Steel Dynamics in the third quarter valued at approximately $15,880,000. Hedge funds and other institutional investors own 82.41% of the company's stock.

Steel Dynamics Trading Up 4.1 %

Shares of NASDAQ:STLD traded up $5.04 during midday trading on Tuesday, hitting $127.05. 2,133,864 shares of the stock traded hands, compared to its average volume of 1,757,225. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The business's 50 day moving average is $126.90 and its two-hundred day moving average is $126.32. The stock has a market capitalization of $19.34 billion, a PE ratio of 12.96 and a beta of 1.36. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.25% and a net margin of 8.76%. During the same period in the previous year, the firm posted $2.61 earnings per share. As a group, research analysts forecast that Steel Dynamics, Inc. will post 8.93 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.45%. The ex-dividend date was Tuesday, December 31st. Steel Dynamics's dividend payout ratio is currently 18.78%.

Insider Buying and Selling

In related news, SVP Richard A. Poinsatte sold 2,000 shares of the stock in a transaction dated Friday, November 15th. The shares were 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 directly owns 21,101 shares in the company, valued at $2,927,763.75. This trade represents a 8.66 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Miguel Alvarez sold 6,650 shares of the business's stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total value of $950,950.00. Following the completion of the sale, the senior vice president now directly owns 116,949 shares in the company, valued at approximately $16,723,707. This represents a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Bank of America raised shares of Steel Dynamics from a "neutral" rating to a "buy" rating and upped their price target for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. BMO Capital Markets raised their price target on Steel Dynamics from $130.00 to $135.00 and gave the company a "market perform" rating in a research report on Friday, October 18th. The Goldman Sachs Group initiated coverage on Steel Dynamics in a research note on Monday, December 2nd. They issued a "neutral" rating and a $155.00 target price for the company. UBS Group reissued a "neutral" rating and set a $149.00 price target (up from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. Finally, StockNews.com lowered shares of Steel Dynamics from a "hold" rating to a "sell" rating in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Steel Dynamics currently has an average rating of "Hold" and a consensus price target of $143.38.

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.