HighTower Advisors LLC Has $12.02 Million Position in Steel Dynamics, Inc. (NASDAQ:STLD)

HighTower Advisors LLC lessened its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 6.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,277 shares of the basic materials company's stock after selling 7,007 shares during the period. HighTower Advisors LLC owned about 0.06% of Steel Dynamics worth $12,019,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Holocene Advisors LP boosted its stake in shares of Steel Dynamics by 85.8% in the third quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company's stock worth $289,400,000 after acquiring an additional 1,060,007 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of 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 worth $276,891,000 after acquiring an additional 140,042 shares during the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of 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 worth $228,999,000 after acquiring an additional 22,390 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in Steel Dynamics by 6.6% during 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 worth $194,933,000 after buying an additional 96,122 shares during the last quarter. Finally, LSV Asset Management boosted its stake in Steel Dynamics by 3.9% during the second quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company's stock worth $182,604,000 after buying an additional 53,532 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on STLD shares. BMO Capital Markets boosted their price objective 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. The Goldman Sachs Group began coverage on Steel Dynamics in a research report on Monday, December 2nd. They issued a "neutral" rating and a $155.00 target price on the stock. UBS Group upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and lifted their target price for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Bank of America upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and lifted their target price for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $129.00 to $134.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $145.63.

Insider Activity at Steel Dynamics

In other news, 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 transaction of $950,950.00. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Chad Bickford sold 2,000 shares of the business's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the sale, the vice president now directly owns 17,100 shares in the company, valued at approximately $2,306,106. The trade was a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 28,591 shares of company stock valued at $3,885,938 over the last three months. 6.00% of the stock is owned by insiders.

Steel Dynamics Trading Down 1.3 %

Shares of STLD stock traded down $1.80 during mid-day trading on Friday, hitting $136.90. 1,273,870 shares of the company's stock were exchanged, compared to its average volume of 1,255,742. 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 50-day simple moving average of $136.76 and a two-hundred day simple moving average of $128.04. 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 stock has a market cap of $20.84 billion, a price-to-earnings ratio of 12.39 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, beating analysts' consensus estimates of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm had revenue of $4.34 billion for the quarter, compared to analysts' expectations of $4.18 billion. During the same quarter last year, the firm earned $3.47 earnings per share. The firm's revenue for the quarter was down 5.4% compared to the same quarter last year. Equities analysts expect that Steel Dynamics, Inc. will post 10.1 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. Investors of record on Tuesday, December 31st will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.34%. 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.