Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Versor Investments LP

Versor Investments LP cut its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 84.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,700 shares of the basic materials company’s stock after selling 8,896 shares during the period. Versor Investments LP’s holdings in Steel Dynamics were worth $214,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in STLD. Addison Advisors LLC acquired a new stake in shares of Steel Dynamics in the 3rd quarter worth about $82,000. Covestor Ltd grew its position in Steel Dynamics by 10.8% in the 3rd quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock worth $120,000 after purchasing an additional 93 shares during the last quarter. Atria Investments Inc increased its stake in shares of Steel Dynamics by 30.8% in the third quarter. Atria Investments Inc now owns 18,335 shares of the basic materials company’s stock valued at $2,312,000 after purchasing an additional 4,319 shares during the period. Kerusso Capital Management LLC bought a new stake in shares of Steel Dynamics during the third quarter valued at approximately $1,774,000. Finally, Klingman & Associates LLC bought a new position in Steel Dynamics in the 3rd quarter worth approximately $466,000. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Stock Up 1.2 %

NASDAQ STLD opened at $139.41 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 market capitalization of $21.22 billion, a P/E ratio of 12.62 and a beta of 1.31. The company’s 50 day simple moving average is $128.98 and its 200 day simple moving average is $127.09. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.07. The company had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.47 earnings per share. Equities research analysts expect that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a $0.46 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a yield of 1.32%. Steel Dynamics’s dividend payout ratio is currently 16.65%.

Analyst Ratings Changes

STLD has been the subject of a number of analyst reports. BMO Capital Markets boosted their price target on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. JPMorgan Chase & Co. raised their target price 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 upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. Finally, Morgan Stanley dropped their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $144.29.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the sale, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at $19,523,371.37. The trade was a 10.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Chad Bickford sold 2,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the sale, the vice president now directly owns 17,100 shares of the company’s stock, valued at approximately $2,306,106. This trade represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 26,591 shares of company stock worth $3,608,438. Company 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.