Van ECK Associates Corp Grows Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Van ECK Associates Corp raised its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 46.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 256,597 shares of the basic materials company’s stock after buying an additional 81,933 shares during the quarter. Van ECK Associates Corp’s holdings in Steel Dynamics were worth $33,009,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of STLD. Price T Rowe Associates Inc. MD boosted its position in Steel Dynamics by 4.4% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock valued at $534,295,000 after buying an additional 152,254 shares during the last quarter. Pacer Advisors Inc. grew its stake in Steel Dynamics by 7.0% during the 2nd quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company’s stock valued at $276,891,000 after purchasing an additional 140,042 shares in the last quarter. Thrivent Financial for Lutherans increased its holdings in Steel Dynamics by 1.3% during the 2nd quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company’s stock worth $228,999,000 after purchasing an additional 22,390 shares during the last quarter. LSV Asset Management raised its position in shares of Steel Dynamics by 3.9% in the 2nd quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company’s stock valued at $182,604,000 after purchasing an additional 53,532 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Steel Dynamics by 21.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock valued at $168,550,000 after buying an additional 202,312 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Buying and Selling

In related news, SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The shares were 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction on Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the completion of the sale, the senior vice president now directly owns 146,693 shares in the company, valued at approximately $19,523,371.37. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Chad Bickford sold 2,000 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 17,100 shares in the company, valued at $2,306,106. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by company insiders.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $133.58 on Tuesday. The firm has a 50-day moving average of $123.74 and a two-hundred day moving average of $126.41. The company has a market capitalization of $20.61 billion, a price-to-earnings ratio of 12.09 and a beta of 1.31. 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, Inc. has a twelve month low of $104.60 and a twelve month high of $151.34.

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, topping the consensus estimate of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the previous year, the business posted $3.47 earnings per share. The firm’s quarterly revenue was down 5.4% compared to the same quarter last year. As a group, analysts expect that Steel Dynamics, Inc. will post 10.22 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were given a $0.46 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.38%. Steel Dynamics’s dividend payout ratio (DPR) is 16.65%.

Analyst Ratings Changes

Several brokerages have issued reports on STLD. 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. Morgan Stanley reduced their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 18th. JPMorgan Chase & Co. boosted 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. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Finally, UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, Steel Dynamics currently has a consensus rating of “Hold” and a consensus price target of $144.29.

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.