Steel Dynamics, Inc. (NASDAQ:STLD) Shares Purchased by Coldstream Capital Management Inc.

Coldstream Capital Management Inc. grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 7.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 4,917 shares of the basic materials company’s stock after purchasing an additional 336 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Steel Dynamics were worth $625,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of STLD. Innealta Capital LLC bought a new position in shares of Steel Dynamics during the second quarter worth about $33,000. Private Trust Co. NA grew its position in shares of Steel Dynamics by 532.6% in the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 245 shares in the last quarter. Cullen Frost Bankers Inc. increased its holdings in shares of Steel Dynamics by 33.3% in the 2nd 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 last quarter. HHM Wealth Advisors LLC acquired a new stake in shares of Steel Dynamics during the 2nd quarter valued at approximately $52,000. Finally, Brooklyn Investment Group bought a new position in Steel Dynamics during the third quarter worth $61,000. Institutional investors own 82.41% of the company’s stock.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following 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 ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,000 shares of the firm’s stock in a transaction dated Friday, November 15th. The shares were sold at an average price of $138.75, for a total transaction of $277,500.00. Following the transaction, the senior vice president now 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. In the last three months, insiders have sold 28,591 shares of company stock worth $3,885,938. 6.00% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on STLD shares. UBS Group reissued a “neutral” rating and set a $149.00 target price (up from $145.00) on shares of Steel Dynamics in a report on Thursday. Morgan Stanley cut 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 report on Wednesday, September 18th. The Goldman Sachs Group initiated coverage on Steel Dynamics in a report on Monday, December 2nd. They set a “neutral” rating and a $155.00 target price for the company. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Finally, BMO Capital Markets boosted their price objective 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. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $146.13.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $122.37 on Friday. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month 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 market cap of $18.63 billion, a PE ratio of 11.07 and a beta of 1.31. The stock has a 50 day simple moving average of $137.11 and a 200-day simple moving average of $128.01.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly 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 analyst estimates of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.47 EPS. On average, equities research analysts forecast that Steel Dynamics, Inc. will post 10.1 EPS for the current year.

Steel Dynamics Announces Dividend

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

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.