Harbour Capital Advisors LLC Has $1.30 Million Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Harbour Capital Advisors LLC lifted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 133.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,499 shares of the basic materials company's stock after purchasing an additional 6,579 shares during the period. Harbour Capital Advisors LLC's holdings in Steel Dynamics were worth $1,301,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of STLD. Wilmington Savings Fund Society FSB bought a new stake in shares of Steel Dynamics during the 3rd quarter worth $25,000. ORG Wealth Partners LLC acquired a new position in Steel Dynamics during the 4th quarter worth $28,000. Private Trust Co. NA boosted its holdings 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 valued at $37,000 after acquiring an additional 245 shares during the period. Brooklyn Investment Group acquired a new stake in shares of Steel Dynamics in the third quarter valued at about $61,000. Finally, Quest Partners LLC bought a new position in shares of Steel Dynamics in the third quarter worth about $62,000. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Price Performance

Shares of STLD stock traded up $6.94 during mid-day trading on Monday, reaching $123.27. The company's stock had a trading volume of 2,704,239 shares, compared to its average volume of 1,934,091. The firm's 50-day moving average is $130.87 and its two-hundred day moving average is $126.54. The company has a market cap of $18.77 billion, a P/E ratio of 11.16 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 debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.07. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The company's quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.47 earnings per share. On average, research analysts predict that Steel Dynamics, Inc. will post 10.09 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.49%. The ex-dividend date of this dividend was Tuesday, December 31st. Steel Dynamics's dividend payout ratio is 16.65%.

Wall Street Analysts Forecast Growth

STLD has been the subject of several recent analyst reports. BNP Paribas upgraded Steel Dynamics from a "neutral" rating to an "outperform" rating in a research note on Friday, January 3rd. 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. 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 price objective 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, Citigroup decreased their price target on shares of Steel Dynamics from $160.00 to $145.00 and set a "buy" rating on the stock in a research report on Thursday, December 19th. Six research analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, Steel Dynamics currently has a consensus rating of "Hold" and a consensus target price of $141.13.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of the company's stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $134.86, for a total transaction of $269,720.00. Following the sale, the vice president now directly owns 17,100 shares of the company's stock, valued at approximately $2,306,106. This represents a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics 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 transaction, the senior vice president now owns 146,693 shares of the company's stock, valued at $19,523,371.37. This trade represents a 10.90 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,591 shares of company stock valued at $3,885,938 in the last 90 days. 6.00% of the stock is owned by corporate insiders.

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.