HighTower Advisors LLC Has $10.71 Million Holdings in Steel Dynamics, Inc. $STLD

HighTower Advisors LLC reduced its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 6.1% during the 4th quarter, Holdings Channel reports. The fund owned 63,185 shares of the basic materials company’s stock after selling 4,088 shares during the quarter. HighTower Advisors LLC’s holdings in Steel Dynamics were worth $10,707,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Lingohr Asset Management GmbH boosted its holdings in shares of Steel Dynamics by 1,284.8% in the 3rd quarter. Lingohr Asset Management GmbH now owns 40,423 shares of the basic materials company’s stock worth $5,636,000 after acquiring an additional 37,504 shares in the last quarter. Mediolanum International Funds Ltd boosted its holdings in shares of Steel Dynamics by 157.2% in the 3rd quarter. Mediolanum International Funds Ltd now owns 206,140 shares of the basic materials company’s stock worth $28,629,000 after acquiring an additional 125,981 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in shares of Steel Dynamics by 47.2% in the 3rd quarter. Fisher Asset Management LLC now owns 34,878 shares of the basic materials company’s stock worth $4,863,000 after acquiring an additional 11,183 shares in the last quarter. Knights of Columbus Asset Advisors LLC boosted its holdings in shares of Steel Dynamics by 156.3% in the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 15,935 shares of the basic materials company’s stock worth $2,222,000 after acquiring an additional 9,717 shares in the last quarter. Finally, Strs Ohio boosted its holdings in shares of Steel Dynamics by 7.3% in the 4th quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock worth $26,075,000 after acquiring an additional 10,519 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

STLD has been the topic of several recent analyst reports. BMO Capital Markets boosted their target price on Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Citigroup boosted their price objective on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Bank of America cut shares of Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 price objective for the company. in a research report on Thursday, April 30th. Finally, Wall Street Zen upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Saturday, April 18th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $219.36.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 4,825 shares of the company’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the completion of the sale, the senior vice president owned 122,257 shares in the company, valued at approximately $27,578,734.06. The trade was a 3.80% 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 2,300 shares of the company’s stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the sale, the senior vice president owned 28,618 shares of the company’s stock, valued at $6,699,759.98. The trade was a 7.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 12,125 shares of company stock worth $2,751,227. Insiders own 6.60% of the company’s stock.

Steel Dynamics Stock Performance

STLD stock opened at $240.03 on Tuesday. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. The company has a 50 day moving average price of $203.88 and a 200 day moving average price of $185.80. Steel Dynamics, Inc. has a fifty-two week low of $119.89 and a fifty-two week high of $243.73. The stock has a market capitalization of $34.74 billion, a PE ratio of 25.67, a price-to-earnings-growth ratio of 0.51 and a beta of 1.48.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The company had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the firm earned $1.44 EPS. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. Analysts forecast that Steel Dynamics, Inc. will post 14.77 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be given a dividend of $0.53 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 annualized dividend and a dividend yield of 0.9%. Steel Dynamics’s payout ratio is presently 22.67%.

About Steel Dynamics

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.