IFM Investors Pty Ltd Grows Position in Steel Dynamics, Inc. (NASDAQ:STLD)

IFM Investors Pty Ltd increased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 21.5% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 38,355 shares of the basic materials company's stock after purchasing an additional 6,779 shares during the period. IFM Investors Pty Ltd's holdings in Steel Dynamics were worth $4,836,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of STLD. Larson Financial Group LLC bought a new stake in shares of Steel Dynamics in the 1st quarter valued at approximately $25,000. Innealta Capital LLC bought a new stake in Steel Dynamics in the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Steel Dynamics in the second quarter worth $41,000. Cullen Frost Bankers Inc. boosted its stake in Steel Dynamics by 33.3% during the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company's stock worth $52,000 after buying an additional 100 shares during the period. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of Steel Dynamics in the second quarter valued at $52,000. Hedge funds and other institutional investors own 82.41% of the company's stock.

Wall Street Analyst Weigh In

STLD has been the subject of a number of recent analyst reports. BMO Capital Markets lifted their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a "market perform" rating in a research note on Friday, October 18th. Morgan Stanley dropped their target price 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 upgraded 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 report on Tuesday, September 3rd. JPMorgan Chase & Co. boosted their price objective on Steel Dynamics from $129.00 to $134.00 and gave the company a "neutral" rating in a report on Friday, October 18th. Finally, Bank of America raised Steel Dynamics from a "neutral" rating to a "buy" rating and upped their price objective for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $144.29.

Steel Dynamics Stock Down 0.6 %

Shares of NASDAQ STLD traded down $0.76 during mid-day trading on Friday, reaching $129.58. 916,256 shares of the company were exchanged, compared to its average volume of 1,264,124. Steel Dynamics, Inc. has a 1 year low of $100.20 and a 1 year high of $151.34. The firm has a 50-day moving average of $122.20 and a 200 day moving average of $126.66. The stock has a market cap of $20.36 billion, a price-to-earnings ratio of 8.90 and a beta of 1.31. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31.

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, 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 business had revenue of $4.34 billion during the quarter, compared to analysts' expectations of $4.18 billion. During the same quarter last year, the company posted $3.47 earnings per share. The business's quarterly revenue was down 5.4% on a year-over-year basis. On average, research analysts expect that Steel Dynamics, Inc. will post 10.22 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Monday, September 30th. Steel Dynamics's payout ratio is 12.64%.

Insider Activity 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 shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the completion of the transaction, the senior vice president now directly owns 146,693 shares of the company's stock, valued at approximately $19,523,371.37. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 6.00% of the stock is owned by insiders.

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.