Victory Capital Management Inc. Increases Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Victory Capital Management Inc. grew its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 4.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 266,499 shares of the basic materials company's stock after acquiring an additional 10,758 shares during the quarter. Victory Capital Management Inc. owned 0.17% of Steel Dynamics worth $33,600,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Aigen Investment Management LP acquired a new position in Steel Dynamics in the 3rd quarter valued at $379,000. Prime Capital Investment Advisors LLC grew its stake in Steel Dynamics by 2.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 5,041 shares of the basic materials company's stock worth $636,000 after buying an additional 99 shares in the last quarter. Ashton Thomas Private Wealth LLC increased its holdings in Steel Dynamics by 4.5% in the 3rd quarter. Ashton Thomas Private Wealth LLC now owns 2,531 shares of the basic materials company's stock valued at $319,000 after buying an additional 110 shares during the period. Entropy Technologies LP grew its position in Steel Dynamics by 52.1% in the third quarter. Entropy Technologies LP now owns 17,395 shares of the basic materials company's stock valued at $2,193,000 after acquiring an additional 5,958 shares during the last quarter. Finally, Laffer Tengler Investments Inc. raised its stake in Steel Dynamics by 2.0% during the third quarter. Laffer Tengler Investments Inc. now owns 52,657 shares of the basic materials company's stock worth $6,639,000 after acquiring an additional 1,050 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on STLD shares. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $129.00 to $134.00 and gave the company a "neutral" rating in a research note on Friday, October 18th. Morgan Stanley dropped their price objective on shares of 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 boosted their price objective on 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 raised Steel Dynamics from a "neutral" rating to a "buy" rating and upped their target price for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. Finally, Bank of America upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $144.29.

Steel Dynamics Trading Up 1.2 %

Shares of NASDAQ:STLD traded up $1.60 during trading on Friday, reaching $139.41. 1,297,847 shares of the company traded hands, compared to its average volume of 1,299,798. The business's fifty day moving average is $128.98 and its 200-day moving average is $127.09. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56. The firm has a market capitalization of $21.22 billion, a price-to-earnings ratio of 12.62 and a beta of 1.31. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31.

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

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.46 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.32%. Steel Dynamics's payout ratio is 16.65%.

Insider Buying and Selling at Steel Dynamics

In related news, VP Chad Bickford sold 2,000 shares of the business's stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the transaction, the vice president now directly owns 17,100 shares of the company's stock, valued at approximately $2,306,106. The trade was a 10.47 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Glenn Pushis sold 17,941 shares of the company's stock in a transaction on Monday, October 21st. The stock was 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 owns 146,693 shares of the company's stock, valued at approximately $19,523,371.37. This represents a 10.90 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,591 shares of company stock worth $3,608,438. Insiders own 6.00% 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.