Wellington Management Group LLP Increases Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Wellington Management Group LLP grew its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 99.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 150,738 shares of the basic materials company's stock after acquiring an additional 75,343 shares during the quarter. Wellington Management Group LLP owned about 0.10% of Steel Dynamics worth $19,005,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Innealta Capital LLC purchased a new position in Steel Dynamics during the second quarter worth about $33,000. Private Trust Co. NA lifted its holdings 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 last quarter. Cullen Frost Bankers Inc. grew its position 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 worth $52,000 after acquiring an additional 100 shares during the period. HHM Wealth Advisors LLC acquired a new stake in Steel Dynamics during the second quarter worth $52,000. Finally, Brooklyn Investment Group acquired a new stake in Steel Dynamics during the third quarter worth $61,000. Hedge funds and other institutional investors own 82.41% of the company's stock.

Steel Dynamics Stock Down 3.6 %

STLD stock traded down $4.54 during mid-day trading on Friday, reaching $122.37. The company had a trading volume of 1,651,104 shares, compared to its average volume of 1,281,278. The firm has a fifty day simple moving average of $137.11 and a 200 day simple moving average of $128.01. 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 company has a market capitalization of $18.63 billion, a price-to-earnings ratio of 11.07 and a beta of 1.31. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings data 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. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The business had revenue of $4.34 billion during the quarter, compared to analysts' expectations of $4.18 billion. During the same period in the prior year, the firm posted $3.47 EPS. The business's quarterly revenue was down 5.4% compared to the same quarter last year. Analysts forecast that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics's payout ratio is 16.65%.

Analysts Set New Price Targets

A number of analysts recently issued reports on STLD shares. Morgan Stanley cut their price objective on Steel Dynamics from $138.00 to $131.00 and set an "equal weight" rating for the company in a research report on Wednesday, September 18th. JPMorgan Chase & Co. boosted their price target 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. UBS Group reaffirmed a "neutral" rating and set a $149.00 price objective (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday. BMO Capital Markets boosted their target price on Steel Dynamics from $130.00 to $135.00 and gave the company a "market perform" rating in a research report on Friday, October 18th. Finally, The Goldman Sachs Group assumed coverage on Steel Dynamics in a research report on Monday, December 2nd. They set a "neutral" rating and a $155.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, Steel Dynamics presently has a consensus rating of "Hold" and a consensus price target of $146.13.

Insider Activity at Steel Dynamics

In related news, SVP Miguel Alvarez sold 6,650 shares of the firm'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 transaction, the senior vice president now owns 116,949 shares in the company, valued at $16,723,707. This trade represents a 5.38 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the transaction, the senior vice president now directly owns 21,101 shares in the company, 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 have sold 28,591 shares of company stock valued at $3,885,938 in the last ninety days. Insiders own 6.00% of the company's stock.

About Steel Dynamics

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.