Steel Dynamics, Inc. $STLD Shares Bought by Linden Thomas Advisory Services LLC

Linden Thomas Advisory Services LLC raised its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 17.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,885 shares of the basic materials company’s stock after purchasing an additional 280 shares during the period. Linden Thomas Advisory Services LLC’s holdings in Steel Dynamics were worth $241,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in STLD. Victory Capital Management Inc. lifted its position in shares of Steel Dynamics by 433.1% in the first quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company’s stock valued at $227,211,000 after acquiring an additional 1,475,767 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its position in shares of Steel Dynamics by 25.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company’s stock valued at $883,854,000 after acquiring an additional 1,437,897 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Steel Dynamics by 43.3% in the second quarter. Nordea Investment Management AB now owns 2,088,372 shares of the basic materials company’s stock valued at $271,238,000 after acquiring an additional 630,935 shares in the last quarter. Nuveen LLC purchased a new position in shares of Steel Dynamics in the first quarter valued at approximately $62,470,000. Finally, Robeco Institutional Asset Management B.V. lifted its position in shares of Steel Dynamics by 40.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,675,973 shares of the basic materials company’s stock valued at $214,541,000 after acquiring an additional 484,304 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Christopher A. Graham sold 12,000 shares of Steel Dynamics stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total value of $1,520,520.00. Following the completion of the sale, the senior vice president directly owned 66,738 shares of the company’s stock, valued at approximately $8,456,371.98. The trade was a 15.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 6.30% of the company’s stock.

Steel Dynamics Price Performance

STLD stock opened at $158.02 on Tuesday. The business has a fifty day moving average of $138.55 and a two-hundred day moving average of $132.26. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43. The stock has a market cap of $23.26 billion, a price-to-earnings ratio of 20.93, a price-to-earnings-growth ratio of 1.28 and a beta of 1.40. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $158.50.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Monday, October 20th. The basic materials company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.11. The company had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a return on equity of 12.93% and a net margin of 6.39%.The firm’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the firm earned $2.05 earnings per share. As a group, research analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.3%. Steel Dynamics’s payout ratio is presently 26.49%.

Wall Street Analyst Weigh In

STLD has been the topic of several research reports. JPMorgan Chase & Co. raised their target price on Steel Dynamics from $150.00 to $160.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Steel Dynamics in a research report on Wednesday, October 8th. Jefferies Financial Group lifted their price objective on Steel Dynamics from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. UBS Group set a $158.00 price objective on Steel Dynamics and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Finally, Wells Fargo & Company lifted their price objective on Steel Dynamics from $150.00 to $169.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Eight research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $163.56.

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.