Stifel Financial Corp Has $72.70 Million Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Stifel Financial Corp lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 10.2% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 576,587 shares of the basic materials company's stock after selling 65,518 shares during the period. Stifel Financial Corp owned approximately 0.38% of Steel Dynamics worth $72,696,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in STLD. Innealta Capital LLC acquired a new position in shares of Steel Dynamics during the second quarter valued at about $33,000. Private Trust Co. NA increased its stake in Steel Dynamics by 532.6% in the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company's stock valued at $37,000 after acquiring an additional 245 shares during the period. Cullen Frost Bankers Inc. increased its stake in Steel Dynamics by 33.3% in the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company's stock valued at $52,000 after acquiring an additional 100 shares during the period. HHM Wealth Advisors LLC bought a new stake in Steel Dynamics in the second quarter valued at about $52,000. Finally, Brooklyn Investment Group bought a new stake in Steel Dynamics in the third quarter valued at about $61,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Glenn Pushis sold 17,941 shares of the company's stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the completion of the sale, the senior vice president now owns 146,693 shares of the company's stock, valued at approximately $19,523,371.37. This represents a 10.90 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,000 shares of the company'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 sale, the senior vice president now directly owns 21,101 shares of the company's stock, valued at approximately $2,927,763.75. This trade represents a 8.66 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 28,591 shares of company stock valued at $3,885,938 in the last quarter. Company insiders own 6.00% of the company's stock.

Steel Dynamics Price Performance

Steel Dynamics stock traded down $1.80 during trading hours on Friday, hitting $136.90. 1,273,870 shares of the stock were exchanged, compared to its average volume of 1,255,742. The business's 50-day moving average is $136.76 and its two-hundred day moving average is $128.08. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. The stock has a market capitalization of $20.84 billion, a P/E ratio of 12.39 and a beta of 1.31. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.98 by $0.07. The company had revenue of $4.34 billion during the quarter, compared to analysts' expectations of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. Steel Dynamics's quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the company posted $3.47 EPS. Equities research analysts expect that Steel Dynamics, Inc. will post 10.1 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.34%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics's dividend payout ratio is currently 16.65%.

Analysts Set New Price Targets

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

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.