Jade Capital Advisors LLC Acquires Shares of 5,290 Steel Dynamics, Inc. (NASDAQ:STLD)

Jade Capital Advisors LLC acquired a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,290 shares of the basic materials company's stock, valued at approximately $667,000.

Several other institutional investors and hedge funds have also modified their holdings of STLD. Atomi Financial Group Inc. boosted its stake in shares of Steel Dynamics by 3.1% during the first quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company's stock valued at $395,000 after purchasing an additional 79 shares in the last quarter. Csenge Advisory Group increased its stake in shares of Steel Dynamics by 2.8% in the second quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company's stock worth $381,000 after acquiring an additional 81 shares during the period. Dorsey Wright & Associates increased its stake in shares of Steel Dynamics by 0.4% in the second quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company's stock worth $3,050,000 after acquiring an additional 96 shares during the period. Stiles Financial Services Inc grew its position in Steel Dynamics by 0.5% during the second quarter. Stiles Financial Services Inc now owns 18,753 shares of the basic materials company's stock valued at $2,429,000 after buying an additional 99 shares during the period. Finally, Resonant Capital Advisors LLC grew its position in Steel Dynamics by 3.4% during the second quarter. Resonant Capital Advisors LLC now owns 3,046 shares of the basic materials company's stock valued at $396,000 after buying an additional 99 shares during the period. Hedge funds and other institutional investors own 82.41% of the company's stock.

Insider Transactions at Steel Dynamics

In related news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction dated 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 of the company's stock, 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 is available at this hyperlink. Corporate insiders own 6.00% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on STLD. BMO Capital Markets lifted 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 report on Friday. Morgan Stanley reduced their target price on shares of 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 price target on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a "neutral" rating in a research note on Friday. UBS Group upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. Finally, 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 report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $144.29.

Steel Dynamics Stock Performance

Steel Dynamics stock traded down $1.65 during trading hours on Tuesday, reaching $131.80. 1,316,518 shares of the stock were exchanged, compared to its average volume of 1,267,445. The stock has a market cap of $20.34 billion, a P/E ratio of 11.83 and a beta of 1.31. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.19 and a current ratio of 2.39. Steel Dynamics, Inc. has a 52-week low of $98.32 and a 52-week high of $151.34. The firm's 50 day moving average is $121.14 and its 200 day moving average is $127.13.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping analysts' consensus estimates of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter in the prior year, the firm earned $3.47 EPS. Steel Dynamics's quarterly revenue was down 5.4% on a year-over-year basis. Analysts predict that Steel Dynamics, Inc. will post 10.12 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a dividend of $0.46 per share. The ex-dividend date was Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.40%. Steel Dynamics's dividend payout ratio (DPR) is presently 16.65%.

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.