Nomura Asset Management Co. Ltd. Acquires 4,759 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Nomura Asset Management Co. Ltd. increased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 7.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 72,467 shares of the basic materials company's stock after acquiring an additional 4,759 shares during the quarter. Nomura Asset Management Co. Ltd.'s holdings in Steel Dynamics were worth $9,137,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Holocene Advisors LP lifted its position in shares of Steel Dynamics by 85.8% in the 3rd 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 period. Pacer Advisors Inc. lifted its position in Steel Dynamics by 7.0% in the second quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company's stock worth $276,891,000 after purchasing an additional 140,042 shares during the period. Thrivent Financial for Lutherans boosted its stake in Steel Dynamics by 1.3% during the second quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company's stock worth $228,999,000 after buying an additional 22,390 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Steel Dynamics by 6.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company's stock valued at $194,933,000 after buying an additional 96,122 shares during the period. Finally, LSV Asset Management raised its stake in shares of Steel Dynamics by 3.9% in the 2nd quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company's stock valued at $182,604,000 after buying an additional 53,532 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Price Performance

STLD traded down $6.64 during trading on Thursday, hitting $126.91. The company's stock had a trading volume of 1,775,994 shares, compared to its average volume of 1,279,736. 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 stock has a market capitalization of $19.32 billion, a price-to-earnings ratio of 12.09 and a beta of 1.31. The firm's 50 day moving average price is $137.24 and its two-hundred day moving average price is $128.09. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.98 by $0.07. The business had revenue of $4.34 billion during the quarter, compared to analysts' expectations of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm's revenue for the quarter was down 5.4% compared to the same quarter last year. During the same period in the previous year, the business posted $3.47 earnings per share. Sell-side analysts forecast that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.45%. Steel Dynamics's payout ratio is 16.65%.

Insider Activity

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,000 shares of the company's stock in a transaction on Friday, November 15th. The stock was sold at an average price of $138.75, for a total transaction of $277,500.00. Following the transaction, the senior vice president now owns 21,101 shares of the company's stock, valued at approximately $2,927,763.75. This represents a 8.66 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction on 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 completion of the sale, the senior vice president now directly owns 146,693 shares of the company's stock, 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 28,591 shares of company stock valued at $3,885,938 over the last three months. 6.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on STLD. JPMorgan Chase & Co. lifted their target price on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a "neutral" rating in a research report on Friday, October 18th. Morgan Stanley decreased their price objective on Steel Dynamics from $138.00 to $131.00 and set an "equal weight" rating on the stock in a report on Wednesday, September 18th. BMO Capital Markets increased their target price on Steel Dynamics from $130.00 to $135.00 and gave the stock a "market perform" rating in a report on Friday, October 18th. The Goldman Sachs Group assumed coverage on Steel Dynamics in a research note on Monday, December 2nd. They issued a "neutral" rating and a $155.00 price target on the stock. Finally, Bank of America upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and upped their price target for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $146.13.

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.