Gateway Investment Advisers LLC Has $6.16 Million Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Gateway Investment Advisers LLC reduced its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 3.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 54,008 shares of the basic materials company's stock after selling 2,026 shares during the period. Gateway Investment Advisers LLC's holdings in Steel Dynamics were worth $6,161,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of STLD. Financial Enhancement Group LLC purchased a new position in Steel Dynamics during the fourth quarter worth approximately $225,000. Fifth Third Wealth Advisors LLC increased its stake in Steel Dynamics by 11.2% during the fourth quarter. Fifth Third Wealth Advisors LLC now owns 2,497 shares of the basic materials company's stock worth $285,000 after acquiring an additional 252 shares during the last quarter. Oak Thistle LLC acquired a new position in shares of Steel Dynamics in the 4th quarter valued at about $1,725,000. Accurate Wealth Management LLC grew its holdings in shares of Steel Dynamics by 32.0% during the 4th quarter. Accurate Wealth Management LLC now owns 7,553 shares of the basic materials company's stock worth $879,000 after purchasing an additional 1,832 shares during the period. Finally, Greenfield Savings Bank increased its position in Steel Dynamics by 4.8% during the 4th quarter. Greenfield Savings Bank now owns 12,895 shares of the basic materials company's stock worth $1,471,000 after purchasing an additional 596 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company's stock.

Steel Dynamics Stock Performance

NASDAQ STLD traded up $0.83 during trading hours on Friday, hitting $125.83. The company had a trading volume of 1,359,763 shares, compared to its average volume of 1,683,360. 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 has a market cap of $19.16 billion, a P/E ratio of 11.39 and a beta of 1.36. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The business has a fifty day simple moving average of $129.59 and a 200-day simple moving average of $126.48.

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 for the quarter, beating analysts' consensus estimates of $1.98 by $0.07. The company had revenue of $4.34 billion for 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 business's revenue for the quarter was down 5.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.47 earnings per share. Equities analysts predict that Steel Dynamics, Inc. will post 9.78 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Investors of record on Tuesday, December 31st were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend was Tuesday, December 31st. Steel Dynamics's payout ratio is currently 16.65%.

Wall Street Analyst Weigh In

STLD has been the subject of several research reports. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They set a "neutral" rating and a $155.00 price objective for the company. BMO Capital Markets increased their target price 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. BNP Paribas upgraded shares of Steel Dynamics from a "neutral" rating to an "outperform" rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. lowered their target price on Steel Dynamics from $134.00 to $132.00 and set a "neutral" rating for the company in a research note on Friday. Finally, Citigroup reduced their price target on Steel Dynamics from $160.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $140.88.

Insider Transactions at Steel Dynamics

In other news, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction that occurred 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 transaction, the senior vice president now owns 146,693 shares of the company's stock, valued at $19,523,371.37. The trade was a 10.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Chad Bickford sold 2,000 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 17,100 shares of the company's stock, valued at approximately $2,306,106. This represents a 10.47 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,591 shares of company stock valued at $3,885,938. Company insiders own 6.10% of the company's stock.

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.