Versor Investments LP Invests $284,000 in Steel Dynamics, Inc. (NASDAQ:STLD)

Versor Investments LP bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLDGet Rating) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 4,008 shares of the basic materials company’s stock, valued at approximately $284,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. First Horizon Advisors Inc. lifted its position in shares of Steel Dynamics by 70.0% during the second quarter. First Horizon Advisors Inc. now owns 464 shares of the basic materials company’s stock worth $30,000 after purchasing an additional 191 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in shares of Steel Dynamics by 425.8% during the second quarter. Parkside Financial Bank & Trust now owns 468 shares of the basic materials company’s stock valued at $31,000 after buying an additional 379 shares during the period. SeaCrest Wealth Management LLC purchased a new position in shares of Steel Dynamics during the second quarter valued at $47,000. Capital Analysts LLC increased its stake in shares of Steel Dynamics by 20.0% during the second quarter. Capital Analysts LLC now owns 846 shares of the basic materials company’s stock valued at $56,000 after buying an additional 141 shares during the period. Finally, Zullo Investment Group Inc. increased its stake in shares of Steel Dynamics by 476.7% during the second quarter. Zullo Investment Group Inc. now owns 865 shares of the basic materials company’s stock valued at $57,000 after buying an additional 715 shares during the period. 79.54% of the stock is currently owned by institutional investors.

Steel Dynamics Price Performance

STLD opened at $101.38 on Tuesday. The business’s 50-day moving average is $101.70 and its two-hundred day moving average is $85.84. Steel Dynamics, Inc. has a 1 year low of $50.54 and a 1 year high of $113.12. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.67 and a quick ratio of 2.08. The firm has a market capitalization of $17.80 billion, a PE ratio of 4.47 and a beta of 1.46.

Steel Dynamics (NASDAQ:STLDGet Rating) last issued its quarterly earnings results on Wednesday, October 19th. The basic materials company reported $5.46 earnings per share for the quarter, topping analysts’ consensus estimates of $4.97 by $0.49. Steel Dynamics had a return on equity of 65.26% and a net margin of 18.99%. The business had revenue of $5.65 billion for the quarter, compared to analyst estimates of $5.48 billion. Research analysts anticipate that Steel Dynamics, Inc. will post 21.97 earnings per share for the current fiscal year.

Steel Dynamics announced that its board has approved a share buyback program on Thursday, November 10th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the basic materials company to buy up to 8.8% of its shares through open market purchases. Shares buyback programs are usually a sign that the company’s leadership believes its stock is undervalued.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 13th. Stockholders of record on Saturday, December 31st will be paid a dividend of $0.34 per share. The ex-dividend date is Friday, December 30th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 1.34%. Steel Dynamics’s payout ratio is 6.00%.

Insider Transactions at Steel Dynamics

In other news, Director James C. Marcuccilli sold 2,500 shares of the business’s stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $108.90, for a total transaction of $272,250.00. Following the sale, the director now owns 82,965 shares in the company, valued at $9,034,888.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director James C. Marcuccilli sold 2,500 shares of Steel Dynamics stock in a transaction dated Friday, December 2nd. The stock was sold at an average price of $108.90, for a total transaction of $272,250.00. Following the completion of the sale, the director now owns 82,965 shares of the company’s stock, valued at $9,034,888.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Keith E. Busse sold 22,103 shares of Steel Dynamics stock in a transaction dated Monday, October 24th. The stock was sold at an average price of $96.33, for a total value of $2,129,181.99. Following the sale, the director now directly owns 701,948 shares of the company’s stock, valued at approximately $67,618,650.84. The disclosure for this sale can be found here. Insiders own 5.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently commented on the company. StockNews.com lowered Steel Dynamics from a “buy” rating to a “hold” rating in a research note on Thursday, November 24th. Citigroup raised their price target on Steel Dynamics to $110.00 in a research note on Tuesday, September 13th. BMO Capital Markets raised their price target on Steel Dynamics from $89.00 to $100.00 and gave the company a “market perform” rating in a research note on Monday, November 14th. UBS Group lowered Steel Dynamics from a “buy” rating to a “neutral” rating in a research note on Monday, December 5th. Finally, The Goldman Sachs Group lifted their target price on Steel Dynamics from $88.00 to $99.00 and gave the company a “buy” rating in a research note on Friday, October 21st. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, Steel Dynamics presently has an average rating of “Hold” and a consensus target price of $94.14.

About Steel Dynamics

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Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.

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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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