ARS Investment Partners LLC Has $8 Million Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

ARS Investment Partners LLC decreased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 70,107 shares of the basic materials company’s stock after selling 307 shares during the quarter. ARS Investment Partners LLC’s holdings in Steel Dynamics were worth $7,997,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of STLD. Holocene Advisors LP lifted its position in shares of Steel Dynamics by 85.8% in the third quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock worth $289,400,000 after purchasing an additional 1,060,007 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Steel Dynamics by 6.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company’s stock valued at $194,933,000 after acquiring an additional 96,122 shares during the period. Nordea Investment Management AB boosted its position in shares of Steel Dynamics by 22.4% in the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock valued at $158,487,000 after acquiring an additional 253,802 shares during the period. Lord Abbett & CO. LLC lifted its position in Steel Dynamics by 116.5% during the third quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock worth $128,434,000 after purchasing an additional 548,086 shares during the period. Finally, Barclays PLC lifted its position in Steel Dynamics by 21.8% during the third quarter. Barclays PLC now owns 448,942 shares of the basic materials company’s stock worth $56,603,000 after purchasing an additional 80,262 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. UBS Group reissued a “neutral” rating and issued a $149.00 target price (up previously from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. BMO Capital Markets upped their price objective on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. Jefferies Financial Group decreased their target price on shares of Steel Dynamics from $145.00 to $125.00 and set a “hold” rating for the company in a research report on Monday, January 6th. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. Finally, Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. Six analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $140.88.

Insider Buying and Selling

In other Steel Dynamics news, SVP Miguel Alvarez sold 6,650 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the transaction, the senior vice president now directly owns 116,949 shares in the company, valued at $16,723,707. This trade represents a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Chad Bickford sold 2,000 shares of the stock in a transaction that occurred on Monday, October 28th. The shares were sold at an average price of $134.86, for a total transaction of $269,720.00. Following the transaction, the vice president now owns 17,100 shares in the company, valued at $2,306,106. The trade was a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,650 shares of company stock worth $1,498,170. Insiders own 6.10% of the company’s stock.

Steel Dynamics Trading Up 0.7 %

Shares of STLD opened at $125.83 on Tuesday. The business’s 50-day moving average price is $128.69 and its 200-day moving average price is $126.43. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56. The stock has a market cap of $19.16 billion, a PE ratio of 11.39 and a beta of 1.36. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.46%. The ex-dividend date was Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is presently 16.65%.

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.