3,697 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Bought by Klingman & Associates LLC

Klingman & Associates LLC purchased a new position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 3,697 shares of the basic materials company's stock, valued at approximately $466,000.

Other institutional investors have also modified their holdings of the company. Verdence Capital Advisors LLC raised its stake in shares of Steel Dynamics by 0.8% in the 3rd quarter. Verdence Capital Advisors LLC now owns 16,396 shares of the basic materials company's stock valued at $2,067,000 after purchasing an additional 127 shares during the period. Stiles Financial Services Inc lifted its stake in Steel Dynamics by 5.2% in the 3rd quarter. Stiles Financial Services Inc now owns 19,737 shares of the basic materials company's stock valued at $2,489,000 after acquiring an additional 984 shares in the last quarter. Concurrent Investment Advisors LLC acquired a new position in Steel Dynamics during the 3rd quarter worth approximately $227,000. Foster & Motley Inc. grew its stake in shares of Steel Dynamics by 9.4% during the 3rd quarter. Foster & Motley Inc. now owns 32,697 shares of the basic materials company's stock worth $4,122,000 after acquiring an additional 2,812 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in shares of Steel Dynamics by 2.7% in the third quarter. Asset Management One Co. Ltd. now owns 65,516 shares of the basic materials company's stock valued at $8,260,000 after purchasing an additional 1,727 shares during the last quarter. Institutional investors own 82.41% of the company's stock.

Steel Dynamics Stock Performance

Steel Dynamics stock traded up $0.60 during mid-day trading on Friday, hitting $148.55. 1,073,793 shares of the company's stock traded hands, compared to its average volume of 1,272,091. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. The firm has a 50 day simple moving average of $126.13 and a two-hundred day simple moving average of $126.80. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The stock has a market cap of $22.92 billion, a price-to-earnings ratio of 13.44 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping 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 business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter in the previous year, the firm posted $3.47 EPS. Steel Dynamics's revenue was down 5.4% compared to the same quarter last year. On average, research analysts expect that Steel Dynamics, Inc. will post 10.22 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company 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. This represents a $1.84 annualized dividend and a yield of 1.24%. Steel Dynamics's payout ratio is 16.65%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on STLD shares. UBS Group upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and lifted their price target for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Bank of America upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and upped their target price 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 note on Friday, October 18th. Morgan Stanley dropped their price objective on Steel Dynamics from $138.00 to $131.00 and set an "equal weight" rating on the stock in a research note on Wednesday, September 18th. Finally, JPMorgan Chase & Co. raised their target price on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Steel Dynamics has an average rating of "Hold" and a consensus target price of $144.29.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $134.86, for a total transaction of $269,720.00. Following the transaction, the vice president now owns 17,100 shares in the company, valued at $2,306,106. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, SVP Glenn Pushis sold 17,941 shares of the business's stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the transaction, the senior vice president now owns 146,693 shares of the company's stock, valued at $19,523,371.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Chad Bickford sold 2,000 shares of the stock in a transaction dated Monday, October 28th. The stock was sold at an average price of $134.86, for a total transaction of $269,720.00. Following the sale, the vice president now owns 17,100 shares in the company, valued at $2,306,106. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.00% of the company's stock.

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.