IFM Investors Pty Ltd Raises Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

IFM Investors Pty Ltd raised its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 21.5% during the third quarter, HoldingsChannel reports. The institutional investor owned 38,355 shares of the basic materials company’s stock after purchasing an additional 6,779 shares during the quarter. IFM Investors Pty Ltd’s holdings in Steel Dynamics were worth $4,836,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the stock. Atomi Financial Group Inc. lifted its holdings in shares of Steel Dynamics by 3.1% in the 1st quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company’s stock worth $395,000 after acquiring an additional 79 shares during the last quarter. Csenge Advisory Group lifted its stake in Steel Dynamics by 2.8% during the second quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock worth $381,000 after purchasing an additional 81 shares in the last quarter. Dorsey Wright & Associates boosted its position in shares of Steel Dynamics by 0.4% during the second quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock worth $3,050,000 after buying an additional 96 shares during the period. Greenleaf Trust grew its stake 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 in the last quarter. Finally, Stiles Financial Services Inc raised its holdings in shares of Steel Dynamics by 0.5% in the 2nd quarter. Stiles Financial Services Inc now owns 18,753 shares of the basic materials company’s stock valued at $2,429,000 after buying an additional 99 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Down 0.6 %

STLD opened at $129.58 on Friday. 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, Inc. has a one year low of $100.20 and a one year high of $151.34. The company has a market cap of $19.99 billion, a P/E ratio of 11.73 and a beta of 1.31. The business’s 50-day simple moving average is $122.20 and its 200-day simple moving average is $126.79.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 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 analyst estimates of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.47 earnings per share. As a group, equities research analysts expect that Steel Dynamics, Inc. will post 10.22 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.42%. The ex-dividend date was Monday, September 30th. Steel Dynamics’s payout ratio is 16.65%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on STLD. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price target for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Morgan Stanley cut their price target 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. JPMorgan Chase & Co. lifted their price objective on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. BMO Capital Markets upped their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research note on Friday, October 18th. Finally, Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their target price for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $144.29.

Insider Buying and Selling

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the business’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the sale, the senior vice president now owns 146,693 shares in the company, valued at approximately $19,523,371.37. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.00% of the stock is currently owned by company insiders.

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.