GAMMA Investing LLC Buys 473 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

GAMMA Investing LLC lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 24.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,420 shares of the basic materials company’s stock after purchasing an additional 473 shares during the quarter. GAMMA Investing LLC’s holdings in Steel Dynamics were worth $276,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Commerce Bank increased its holdings 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 worth $754,000 after purchasing an additional 73 shares during the period. M&T Bank Corp increased its stake 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 worth $1,267,000 after acquiring an additional 88 shares during the last quarter. Covestor Ltd raised its holdings in shares of Steel Dynamics by 10.8% in the 3rd quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock valued at $120,000 after acquiring an additional 93 shares in the last quarter. Dorsey Wright & Associates boosted its position in shares of Steel Dynamics by 0.4% during the 2nd quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock valued at $3,050,000 after acquiring an additional 96 shares during the last quarter. Finally, Greenleaf Trust grew its holdings in shares of Steel Dynamics by 2.1% during the third quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock worth $583,000 after purchasing an additional 96 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Up 1.0 %

NASDAQ STLD opened at $119.81 on Wednesday. The firm has a market cap of $18.24 billion, a PE ratio of 10.84 and a beta of 1.36. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56. The stock has a 50-day moving average of $132.03 and a 200-day moving average of $126.74. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter last year, the firm earned $3.47 EPS. The company’s revenue was down 5.4% on a year-over-year basis. As a group, sell-side analysts forecast that Steel Dynamics, Inc. will post 10.09 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be issued a dividend of $0.46 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.54%. Steel Dynamics’s dividend payout ratio is presently 16.65%.

Wall Street Analyst Weigh In

STLD has been the topic of a number of recent analyst reports. Jefferies Financial Group lowered their target price on shares of Steel Dynamics from $145.00 to $125.00 and set a “hold” rating on the stock in a research note on Monday. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a research report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price objective on the stock. Morgan Stanley cut their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. Citigroup lowered their price target on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research report on Thursday, December 19th. Finally, Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $140.00 to $155.00 in a research 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. Based on data from MarketBeat.com, Steel Dynamics has an average rating of “Hold” and a consensus target price of $141.13.

Insider Buying and Selling

In related news, VP Chad Bickford sold 2,000 shares of the stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the transaction, the vice president now directly owns 17,100 shares of the company’s stock, valued at $2,306,106. This represents a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the sale, the senior vice president now directly owns 116,949 shares in the company, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,591 shares of company stock valued at $3,885,938 over the last quarter. 6.00% of the stock is owned by company insiders.

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.