Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Versor Investments LP

Versor Investments LP cut its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 84.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,700 shares of the basic materials company's stock after selling 8,896 shares during the quarter. Versor Investments LP's holdings in Steel Dynamics were worth $214,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its position in shares of Steel Dynamics by 4.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company's stock valued at $534,295,000 after acquiring an additional 152,254 shares in the last quarter. Pacer Advisors Inc. grew its holdings in shares of Steel Dynamics by 7.0% during the second quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company's stock worth $276,891,000 after buying an additional 140,042 shares in the last quarter. Thrivent Financial for Lutherans raised its position in shares of Steel Dynamics by 1.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company's stock valued at $228,999,000 after buying an additional 22,390 shares during the last quarter. LSV Asset Management lifted its stake in shares of Steel Dynamics by 3.9% in the second quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company's stock worth $182,604,000 after buying an additional 53,532 shares in the last quarter. Finally, AustralianSuper Pty Ltd boosted its position in Steel Dynamics by 1.8% during the second quarter. AustralianSuper Pty Ltd now owns 592,255 shares of the basic materials company's stock worth $76,697,000 after acquiring an additional 10,701 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics 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 completion of the transaction, the senior vice president now directly owns 146,693 shares in the company, valued at approximately $19,523,371.37. This trade represents a 10.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Miguel Alvarez sold 6,650 shares of the company's stock in a transaction dated Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total value of $950,950.00. Following the sale, the senior vice president now owns 116,949 shares in the company, valued at approximately $16,723,707. This trade represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 26,591 shares of company stock valued at $3,608,438. Corporate insiders own 6.00% of the company's stock.

Analysts Set New Price Targets

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

Steel Dynamics Trading Up 1.2 %

NASDAQ STLD traded up $1.60 during trading hours on Friday, reaching $139.41. The company had a trading volume of 1,297,847 shares, compared to its average volume of 1,299,798. 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 stock has a market capitalization of $21.22 billion, a P/E ratio of 12.62 and a beta of 1.31. The stock has a 50-day moving average of $128.98 and a 200 day moving average of $127.08. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $4.18 billion. During the same period in the prior year, the business posted $3.47 EPS. The business's revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, research analysts anticipate that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The company 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 1.32%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics's payout ratio is 16.65%.

About Steel Dynamics

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.