Coldstream Capital Management Inc. Raises Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Coldstream Capital Management Inc. boosted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 7.3% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,917 shares of the basic materials company’s stock after buying 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 filing with the SEC.

A number of other large investors have also recently bought and sold shares of the stock. Commerce Bank lifted its position in shares of Steel Dynamics by 1.2% in the third quarter. Commerce Bank now owns 5,981 shares of the basic materials company’s stock valued at $754,000 after acquiring an additional 73 shares in the last quarter. M&T Bank Corp lifted its holdings in Steel Dynamics by 0.9% in the 3rd quarter. M&T Bank Corp now owns 10,055 shares of the basic materials company’s stock valued at $1,267,000 after purchasing an additional 88 shares in the last quarter. Covestor Ltd grew its holdings in shares of Steel Dynamics by 10.8% during the third quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock worth $120,000 after buying an additional 93 shares in the last quarter. Dorsey Wright & Associates raised its position in shares of Steel Dynamics by 0.4% in the second quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock valued at $3,050,000 after buying an additional 96 shares during the last quarter. Finally, Greenleaf Trust raised its position in shares of Steel Dynamics by 2.1% in the third quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock valued at $583,000 after buying an additional 96 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,000 shares of the business’s stock in a transaction on Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the transaction, the senior vice president now owns 21,101 shares in the company, valued at $2,927,763.75. The trade was a 8.66 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Glenn Pushis sold 17,941 shares of the firm’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following the sale, the senior vice president now owns 146,693 shares of the company’s stock, valued at $19,523,371.37. This represents a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,591 shares of company stock worth $3,885,938 over the last quarter. 6.00% of the stock is owned by corporate insiders.

Steel Dynamics Stock Down 3.6 %

Shares of NASDAQ:STLD opened at $122.37 on Friday. The stock has a 50-day simple moving average of $137.11 and a 200-day simple moving average of $128.01. The stock has a market capitalization of $18.63 billion, a P/E ratio of 11.07 and a beta of 1.31. 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) 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 net margin of 9.80% and a return on equity of 19.82%. The company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same period in the previous year, the firm earned $3.47 earnings per share. Steel Dynamics’s revenue for the quarter was down 5.4% on a year-over-year basis. Equities analysts forecast that Steel Dynamics, Inc. will post 10.1 earnings per share for the current year.

Steel Dynamics Dividend Announcement

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

Analyst Ratings Changes

Several brokerages have weighed in on STLD. UBS Group reiterated a “neutral” rating and issued a $149.00 price target (up from $145.00) on shares of Steel Dynamics in a report on Thursday. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. BMO Capital Markets raised their price target on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Morgan Stanley dropped their price objective on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 18th. Finally, The Goldman Sachs Group began coverage on shares of Steel Dynamics in a research report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 target price on the stock. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $146.13.

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.