Entropy Technologies LP grew its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 52.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 17,395 shares of the basic materials company's stock after buying an additional 5,958 shares during the period. Entropy Technologies LP's holdings in Steel Dynamics were worth $2,193,000 as of its most recent SEC filing.
Several other hedge funds also recently made changes to their positions in STLD. Trustmark National Bank Trust Department grew its holdings in shares of Steel Dynamics by 126.6% during the first quarter. Trustmark National Bank Trust Department now owns 7,134 shares of the basic materials company's stock valued at $1,057,000 after purchasing an additional 3,986 shares during the last quarter. Bessemer Group Inc. grew its position in shares of Steel Dynamics by 2,679.3% during the first quarter. Bessemer Group Inc. now owns 10,867 shares of the basic materials company's stock worth $1,611,000 after acquiring an additional 10,476 shares during the last quarter. LBP AM SA increased its holdings in shares of Steel Dynamics by 26.5% in the 1st quarter. LBP AM SA now owns 21,966 shares of the basic materials company's stock worth $3,256,000 after acquiring an additional 4,599 shares during the period. M&G Plc bought a new stake in Steel Dynamics in the 1st quarter valued at about $9,478,000. Finally, UniSuper Management Pty Ltd boosted its stake in Steel Dynamics by 372.0% during the 1st quarter. UniSuper Management Pty Ltd now owns 8,906 shares of the basic materials company's stock valued at $1,320,000 after purchasing an additional 7,019 shares during the period. Institutional investors and hedge funds own 82.41% of the company's stock.
Insider Buying and Selling
In other news, SVP Glenn Pushis sold 17,941 shares of the business'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 transaction of $2,387,767.69. Following the sale, the senior vice president now owns 146,693 shares in the company, valued at $19,523,371.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction 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 company's 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 transaction, the senior vice president now directly owns 146,693 shares of the company's stock, valued at approximately $19,523,371.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a 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 dated 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 sale, the vice president now directly owns 17,100 shares of the company's stock, valued at approximately $2,306,106. This represents a 0.00 % decrease in their ownership of the stock. 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 STLD traded down $1.00 during mid-day trading on Wednesday, hitting $143.35. The company's stock had a trading volume of 503,648 shares, compared to its average volume of 1,264,472. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The stock has a market capitalization of $21.82 billion, a price-to-earnings ratio of 12.95 and a beta of 1.31. The firm has a 50-day moving average price of $127.31 and a 200 day moving average price of $126.90. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26.
Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (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 analysts' expectations of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm's revenue was down 5.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.47 earnings per share. On average, research analysts predict that Steel Dynamics, Inc. will post 10.18 EPS for the current fiscal year.
Steel Dynamics Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a $0.46 dividend. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.28%. Steel Dynamics's dividend payout ratio (DPR) is 16.65%.
Analysts Set New Price Targets
STLD has been the subject of several analyst reports. Morgan Stanley reduced their price objective on 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. UBS Group raised 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 note on Tuesday, September 3rd. Bank of America upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Finally, BMO Capital Markets increased their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a "market perform" rating in a report on Friday, October 18th. 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 data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $144.29.
Check Out Our Latest Stock Analysis on STLD
About Steel Dynamics
(
Free Report)
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.
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