Steel Dynamics, Inc. $STLD Shares Purchased by Blueshift Asset Management LLC

Blueshift Asset Management LLC grew its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 102.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 11,500 shares of the basic materials company’s stock after purchasing an additional 5,829 shares during the quarter. Blueshift Asset Management LLC’s holdings in Steel Dynamics were worth $1,472,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Cary Street Partners Investment Advisory LLC boosted its position in shares of Steel Dynamics by 493.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 163 shares during the last quarter. Trust Co. of Toledo NA OH purchased a new position in Steel Dynamics during the second quarter worth approximately $30,000. Zions Bancorporation National Association UT acquired a new position in shares of Steel Dynamics in the 1st quarter valued at $32,000. WPG Advisers LLC purchased a new stake in shares of Steel Dynamics during the 1st quarter valued at $32,000. Finally, Rosenberg Matthew Hamilton increased its holdings in shares of Steel Dynamics by 306.2% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock worth $34,000 after buying an additional 199 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Price Performance

STLD opened at $167.62 on Tuesday. The company has a market capitalization of $24.48 billion, a P/E ratio of 22.20, a PEG ratio of 1.39 and a beta of 1.45. The company has a 50-day moving average of $151.22 and a 200-day moving average of $137.88. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.11. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $169.49.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, October 21st. The basic materials company reported $2.74 EPS for the quarter, topping the consensus estimate of $2.63 by $0.11. The business had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.05 earnings per share. Equities analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be given a $0.50 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 1.2%. Steel Dynamics’s dividend payout ratio (DPR) is presently 26.49%.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Miguel Alvarez sold 8,251 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the sale, the senior vice president directly owned 117,068 shares of the company’s stock, valued at approximately $19,057,499.72. This represents a 6.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on STLD. Jefferies Financial Group lifted their target price on Steel Dynamics from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, October 22nd. KeyCorp lifted their price objective on Steel Dynamics from $152.00 to $165.00 and gave the company an “overweight” rating in a research note on Monday, October 27th. Morgan Stanley increased their target price on shares of Steel Dynamics from $145.00 to $173.00 and gave the stock an “overweight” rating in a research report on Friday, October 24th. Wells Fargo & Company raised their price target on shares of Steel Dynamics from $169.00 to $172.00 and gave the company an “overweight” rating in a report on Friday, November 14th. Finally, BMO Capital Markets boosted their price objective on shares of Steel Dynamics from $155.00 to $167.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 22nd. Seven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.44.

Steel Dynamics Company 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.