iA Global Asset Management Inc. Increases Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

iA Global Asset Management Inc. lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 48.0% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 13,262 shares of the basic materials company's stock after buying an additional 4,302 shares during the period. iA Global Asset Management Inc.'s holdings in Steel Dynamics were worth $1,672,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Commerce Bank increased its holdings in Steel Dynamics by 1.2% in the third quarter. Commerce Bank now owns 5,981 shares of the basic materials company's stock valued at $754,000 after purchasing an additional 73 shares during the period. Covestor Ltd grew its holdings in Steel Dynamics by 10.8% during the 3rd quarter. Covestor Ltd now owns 951 shares of the basic materials company's stock worth $120,000 after acquiring an additional 93 shares during the period. Dorsey Wright & Associates grew its holdings in Steel Dynamics by 0.4% during the 2nd quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company's stock worth $3,050,000 after acquiring an additional 96 shares during the period. Greenleaf Trust grew its holdings in Steel Dynamics by 2.1% during the 3rd quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company's stock worth $583,000 after acquiring an additional 96 shares during the period. Finally, Stiles Financial Services Inc grew its holdings in Steel Dynamics by 0.5% during the 2nd quarter. Stiles Financial Services Inc now owns 18,753 shares of the basic materials company's stock worth $2,429,000 after acquiring an additional 99 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the business'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 completion of the sale, the senior vice president now directly owns 146,693 shares of the company's stock, valued at $19,523,371.37. The trade was a 10.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Richard A. Poinsatte sold 2,000 shares of the business's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $138.75, for a total transaction of $277,500.00. Following the completion of the sale, the senior vice president now directly owns 21,101 shares of the company's stock, valued at $2,927,763.75. This represents a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 28,591 shares of company stock valued at $3,885,938. Insiders own 6.10% of the company's stock.

Analyst Ratings Changes

A number of brokerages have weighed in on STLD. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $129.00 to $134.00 and gave the stock a "neutral" rating in a report on Friday, October 18th. The Goldman Sachs Group started coverage on shares of Steel Dynamics in a research report on Monday, December 2nd. They issued a "neutral" rating and a $155.00 price target on the stock. UBS Group raised shares of Steel Dynamics from a "neutral" rating to a "buy" rating and raised their price target for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. BMO Capital Markets increased their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a "market perform" rating in a research note on Friday, October 18th. Finally, Morgan Stanley decreased their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an "equal weight" rating for the company in a research note on Wednesday, September 18th. Five analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $145.63.

Steel Dynamics Price Performance

NASDAQ:STLD traded up $1.35 during trading hours on Monday, hitting $138.25. The stock had a trading volume of 1,300,778 shares, compared to its average volume of 1,275,630. The company has a 50 day simple moving average of $136.76 and a two-hundred day simple moving average of $128.01. 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, Inc. has a one year low of $104.60 and a one year high of $155.56. The firm has a market capitalization of $21.05 billion, a price-to-earnings ratio of 12.39 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly 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. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same period last year, the firm earned $3.47 EPS. The business's quarterly revenue was down 5.4% compared to the same quarter last year. Research analysts forecast that Steel Dynamics, Inc. will post 10.1 earnings per share 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. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics's dividend payout ratio is currently 16.65%.

Steel Dynamics Company 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.