Smith Group Asset Management LLC Purchases Shares of 6,000 Steel Dynamics, Inc. (NASDAQ:STLD)

Smith Group Asset Management LLC purchased a new stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 6,000 shares of the basic materials company's stock, valued at approximately $684,000.

Other institutional investors also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new stake in Steel Dynamics during the third quarter valued at about $25,000. ORG Wealth Partners LLC acquired a new position in Steel Dynamics during the fourth quarter valued at approximately $28,000. Private Trust Co. NA grew its stake in Steel Dynamics by 532.6% during the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company's stock worth $37,000 after buying an additional 245 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Steel Dynamics in the third quarter worth $61,000. Finally, Quest Partners LLC purchased a new position in shares of Steel Dynamics in the 3rd quarter valued at $62,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Richard A. Poinsatte sold 2,000 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president now owns 21,101 shares in the company, valued at $2,927,763.75. This trade represents a 8.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Miguel Alvarez sold 6,650 shares of the company'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 completion of the sale, the senior vice president now directly owns 116,949 shares in the company, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.00% of the company's stock.

Steel Dynamics Stock Up 1.7 %

STLD stock traded up $2.12 during midday trading on Wednesday, reaching $129.17. The company had a trading volume of 1,455,158 shares, compared to its average volume of 1,741,148. The company has a market capitalization of $19.66 billion, a P/E ratio of 13.18 and a beta of 1.36. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $155.56. 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 50 day moving average of $126.63 and a two-hundred day moving average of $126.31.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing analysts' consensus estimates 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 last year, the firm posted $2.61 earnings per share. On average, equities research analysts expect that Steel Dynamics, Inc. will post 8.93 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were given a $0.46 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.84 annualized dividend and a yield of 1.42%. Steel Dynamics's dividend payout ratio is 18.78%.

Analyst Ratings Changes

Several research firms have commented on STLD. UBS Group reissued a "neutral" rating and issued a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. BMO Capital Markets upped their price target on Steel Dynamics from $130.00 to $135.00 and gave the stock a "market perform" rating in a report on Friday, October 18th. StockNews.com lowered shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research note on Thursday, January 23rd. Citigroup lowered their price target on shares of Steel Dynamics from $160.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Finally, BNP Paribas upgraded shares of Steel Dynamics from a "neutral" rating to an "outperform" rating in a report on Friday, January 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus 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.