Geode Capital Management LLC Has $459.72 Million Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Geode Capital Management LLC reduced its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 0.3% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,658,144 shares of the basic materials company's stock after selling 12,038 shares during the quarter. Geode Capital Management LLC owned 2.40% of Steel Dynamics worth $459,723,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Holocene Advisors LP increased its position in shares of Steel Dynamics by 85.8% during the third quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company's stock worth $289,400,000 after acquiring an additional 1,060,007 shares during the last quarter. National Bank of Canada FI increased its holdings in Steel Dynamics by 481.2% during the 2nd quarter. National Bank of Canada FI now owns 328,795 shares of the basic materials company's stock worth $42,461,000 after purchasing an additional 272,226 shares during the last quarter. Skandinaviska Enskilda Banken AB publ raised its position in shares of Steel Dynamics by 65.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company's stock valued at $74,064,000 after purchasing an additional 225,832 shares in the last quarter. Renaissance Technologies LLC purchased a new position in shares of Steel Dynamics during the 2nd quarter valued at approximately $24,670,000. Finally, Ninety One UK Ltd grew its position in shares of Steel Dynamics by 148.2% during the second quarter. Ninety One UK Ltd now owns 253,828 shares of the basic materials company's stock worth $32,871,000 after buying an additional 151,546 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company's stock.

Steel Dynamics Stock Down 3.6 %

Steel Dynamics stock traded down $4.54 during trading hours on Friday, hitting $122.37. The company had a trading volume of 1,651,059 shares, compared to its average volume of 1,281,278. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. The firm has a market capitalization of $18.63 billion, a P/E ratio of 11.07 and a beta of 1.31. The firm's fifty day moving average is $137.11 and its 200-day moving average is $128.01.

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 for the quarter, topping analysts' consensus estimates of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same period last year, the business earned $3.47 EPS. The business's quarterly revenue was down 5.4% on a year-over-year basis. On average, research analysts forecast that Steel Dynamics, Inc. will post 10.1 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be given 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 yield of 1.50%. Steel Dynamics's payout ratio is currently 16.65%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a "market perform" rating in a research note on Friday, October 18th. The Goldman Sachs Group assumed coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They set a "neutral" rating and a $155.00 price objective on the stock. Morgan Stanley decreased their target price on Steel Dynamics from $138.00 to $131.00 and set an "equal weight" rating for the company in a research note on Wednesday, September 18th. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $129.00 to $134.00 and gave the stock a "neutral" rating in a research report on Friday, October 18th. Finally, Bank of America raised 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 report on Tuesday, October 1st. Six investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $146.13.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the firm's stock in a transaction that occurred on 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 sale, the senior vice president now owns 146,693 shares of the company's stock, valued at $19,523,371.37. This trade represents a 10.90 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Chad Bickford sold 2,000 shares of the company'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 transaction, the vice president now owns 17,100 shares of the company's stock, valued at approximately $2,306,106. This trade represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 28,591 shares of company stock worth $3,885,938 over the last 90 days. Insiders own 6.00% of the company's stock.

Steel Dynamics Company 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.