QRG Capital Management Inc. Sells 3,922 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

QRG Capital Management Inc. decreased its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 5.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 64,993 shares of the basic materials company's stock after selling 3,922 shares during the period. QRG Capital Management Inc.'s holdings in Steel Dynamics were worth $8,194,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. BSW Wealth Partners acquired a new stake in Steel Dynamics during the third quarter worth approximately $317,000. Van ECK Associates Corp increased its stake in Steel Dynamics by 46.9% in the third quarter. Van ECK Associates Corp now owns 256,597 shares of the basic materials company's stock valued at $33,009,000 after purchasing an additional 81,933 shares in the last quarter. Harbor Capital Advisors Inc. raised its holdings in shares of Steel Dynamics by 3.9% during the third quarter. Harbor Capital Advisors Inc. now owns 6,650 shares of the basic materials company's stock valued at $838,000 after purchasing an additional 248 shares during the period. Farther Finance Advisors LLC boosted its position in shares of Steel Dynamics by 11.4% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,609 shares of the basic materials company's stock worth $203,000 after purchasing an additional 165 shares in the last quarter. Finally, Measured Wealth Private Client Group LLC grew its stake in shares of Steel Dynamics by 5.7% in the 3rd quarter. Measured Wealth Private Client Group LLC now owns 7,040 shares of the basic materials company's stock valued at $888,000 after buying an additional 378 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD traded up $2.07 during mid-day trading on Tuesday, hitting $135.65. The company had a trading volume of 926,487 shares, compared to its average volume of 1,256,321. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $151.34. The stock's 50-day moving average price is $123.96 and its 200-day moving average price is $126.39. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $20.93 billion, a price-to-earnings ratio of 12.15 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm 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 firm earned $3.47 EPS. The business's quarterly revenue was down 5.4% compared to the same quarter last year. On average, sell-side analysts forecast that Steel Dynamics, Inc. will post 10.22 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.36%. The ex-dividend date was Monday, September 30th. Steel Dynamics's dividend payout ratio is currently 16.65%.

Wall Street Analysts Forecast Growth

STLD has been the subject of a number of analyst reports. Morgan Stanley cut their price target 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. Bank of America upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and upped their target price for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. BMO Capital Markets boosted their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a "market perform" rating in a report on Friday, October 18th. JPMorgan Chase & Co. increased their price objective on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Finally, UBS Group upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $144.29.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction 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 transaction, the senior vice president now owns 146,693 shares of the company's stock, valued at $19,523,371.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of Steel Dynamics stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total transaction of $269,720.00. Following the sale, the vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction dated 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 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 ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is currently owned by company insiders.

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.