CX Institutional Raises Position in Steel Dynamics, Inc. (NASDAQ:STLD)

CX Institutional lifted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 45.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 12,313 shares of the basic materials company’s stock after purchasing an additional 3,824 shares during the quarter. CX Institutional’s holdings in Steel Dynamics were worth $1,405,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Holocene Advisors LP boosted its stake in shares of Steel Dynamics by 85.8% during the 3rd quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock worth $289,400,000 after purchasing an additional 1,060,007 shares during the period. Lord Abbett & CO. LLC raised its position in Steel Dynamics by 116.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock worth $128,434,000 after purchasing an additional 548,086 shares during the period. Nordea Investment Management AB lifted its stake in Steel Dynamics by 22.4% in the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after purchasing an additional 253,802 shares during the last quarter. World Investment Advisors LLC purchased a new position in shares of Steel Dynamics during the third quarter valued at approximately $15,880,000. Finally, Bridgewater Associates LP grew its stake in shares of Steel Dynamics by 119.3% during the third quarter. Bridgewater Associates LP now owns 200,662 shares of the basic materials company’s stock valued at $25,299,000 after buying an additional 109,158 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

STLD has been the subject of a number of research analyst reports. BNP Paribas raised Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. decreased their target price on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research report on Friday, January 17th. StockNews.com lowered shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Thursday. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price target on the stock. Finally, Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and lifted their price target for the company from $125.00 to $145.00 in a research note on Friday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, Steel Dynamics currently has a consensus rating of “Hold” and an average target price of $143.38.

Steel Dynamics Trading Down 0.0 %

NASDAQ STLD opened at $122.35 on Friday. The company’s 50-day simple moving average is $127.27 and its two-hundred day simple moving average is $126.37. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56. The company has a market capitalization of $18.63 billion, a price-to-earnings ratio of 12.48 and a beta of 1.36. 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 (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.25%. During the same quarter in the previous year, the business earned $2.61 EPS. Equities analysts forecast that Steel Dynamics, Inc. will post 8.93 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date was Tuesday, December 31st. Steel Dynamics’s payout ratio is currently 18.78%.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 6,650 shares of Steel Dynamics stock in a transaction 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 transaction, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at approximately $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Chad Bickford sold 2,000 shares of the company’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 transaction, the vice president now directly owns 17,100 shares in the company, valued at approximately $2,306,106. The trade was a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 10,650 shares of company stock worth $1,498,170 over the last quarter. 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.