Kerusso Capital Management LLC Buys New Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Kerusso Capital Management LLC bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 14,074 shares of the basic materials company's stock, valued at approximately $1,774,000.

A number of other large investors have also made changes to their positions in the stock. Price T Rowe Associates Inc. MD grew its stake in shares of 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 period. Pacer Advisors Inc. grew its position in Steel Dynamics by 7.0% in the second quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company's stock worth $276,891,000 after acquiring an additional 140,042 shares during the period. Thrivent Financial for Lutherans increased its stake in Steel Dynamics by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company's stock worth $228,999,000 after acquiring an additional 22,390 shares during the last quarter. LSV Asset Management raised its position in Steel Dynamics by 3.9% in the second 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 during the period. Finally, Acadian Asset Management LLC lifted its stake in shares of Steel Dynamics by 21.6% in 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 purchasing an additional 202,312 shares during the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Glenn Pushis sold 17,941 shares of the firm's stock in a transaction 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 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction dated 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 transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Chad Bickford sold 2,000 shares of the business's 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 sale, the vice president now owns 17,100 shares of the company's stock, valued at approximately $2,306,106. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 6.00% of the stock is owned by insiders.

Steel Dynamics Stock Up 0.4 %

Shares of NASDAQ:STLD traded up $0.60 during trading on Friday, hitting $148.55. The company's stock had a trading volume of 1,073,793 shares, compared to its average volume of 1,351,309. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The business has a 50 day moving average price of $126.13 and a two-hundred day moving average price of $126.75. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. The company has a market capitalization of $22.92 billion, a PE ratio of 13.44 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.98 by $0.07. The firm had revenue of $4.34 billion during the quarter, compared to analysts' expectations of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. Steel Dynamics's revenue for the quarter was down 5.4% on a year-over-year basis. During the same period in the previous year, the firm posted $3.47 EPS. As a group, research analysts expect that Steel Dynamics, Inc. will post 10.18 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.24%. Steel Dynamics's dividend payout ratio is currently 16.65%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. BMO Capital Markets raised their price objective on Steel Dynamics from $130.00 to $135.00 and gave the stock a "market perform" rating in a research report on Friday, October 18th. UBS Group upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and lifted their price target for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Morgan Stanley decreased their price objective on shares of Steel Dynamics from $138.00 to $131.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 18th. Bank of America upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and lifted their target price for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. upped their price target on Steel Dynamics from $129.00 to $134.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $144.29.

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.