Regal Partners Ltd Invests $6.77 Million in Steel Dynamics, Inc. (NASDAQ:STLD)

Regal Partners Ltd bought a new stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 53,676 shares of the basic materials company's stock, valued at approximately $6,767,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Trustmark National Bank Trust Department boosted its stake in shares of Steel Dynamics by 126.6% during the 1st quarter. Trustmark National Bank Trust Department now owns 7,134 shares of the basic materials company's stock worth $1,057,000 after acquiring an additional 3,986 shares during the period. Bessemer Group Inc. raised its position in shares of Steel Dynamics by 2,679.3% in the first quarter. Bessemer Group Inc. now owns 10,867 shares of the basic materials company's stock valued at $1,611,000 after purchasing an additional 10,476 shares during the period. LBP AM SA lifted its stake in shares of Steel Dynamics by 26.5% during the 1st quarter. LBP AM SA now owns 21,966 shares of the basic materials company's stock worth $3,256,000 after buying an additional 4,599 shares during the last quarter. M&G Plc bought a new stake in shares of Steel Dynamics during the 1st quarter worth about $9,478,000. Finally, UniSuper Management Pty Ltd grew its stake in Steel Dynamics by 372.0% in 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 buying an additional 7,019 shares during the last quarter. 82.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of the business's stock in a transaction on Monday, October 28th. The shares were sold at an average price of $134.86, for a total transaction of $269,720.00. Following the completion of the sale, the vice president now owns 17,100 shares in the company, valued at approximately $2,306,106. The trade was a 10.47 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Glenn Pushis sold 17,941 shares of the firm's stock in a transaction 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 in the company, valued at $19,523,371.37. This trade represents a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,591 shares of company stock valued at $3,608,438 over the last ninety days. 6.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. upped 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, October 18th. BMO Capital Markets boosted their price target on Steel Dynamics from $130.00 to $135.00 and gave the company a "market perform" rating in a research note on Friday, October 18th. UBS Group raised 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. Bank of America upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and boosted their target price for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. Finally, Morgan Stanley reduced their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an "equal weight" rating on the stock in a research report on Wednesday, September 18th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Steel Dynamics presently has an average rating of "Hold" and a consensus price target of $144.29.

Steel Dynamics Trading Down 2.9 %

Steel Dynamics stock traded down $4.09 during mid-day trading on Thursday, hitting $137.81. 1,634,307 shares of the stock were exchanged, compared to its average volume of 1,269,111. The stock has a market capitalization of $20.98 billion, a price-to-earnings ratio of 12.47 and a beta of 1.31. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The firm's fifty day simple moving average is $128.41 and its two-hundred day simple moving average is $127.08.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its 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 return on equity of 19.82% and a net margin of 9.80%. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the prior year, the company earned $3.47 EPS. The firm's revenue for the quarter was down 5.4% compared to the same quarter last year. Analysts forecast that Steel Dynamics, Inc. will post 10.18 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.34%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics's dividend payout ratio is presently 16.65%.

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.