Nisa Investment Advisors LLC Purchases 3,855 Shares of Steel Dynamics, Inc. $STLD

Nisa Investment Advisors LLC increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 10.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 39,887 shares of the basic materials company’s stock after acquiring an additional 3,855 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Steel Dynamics were worth $5,581,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in STLD. Ninety One UK Ltd increased its stake in Steel Dynamics by 33.5% in the third quarter. Ninety One UK Ltd now owns 119,863 shares of the basic materials company’s stock valued at $16,712,000 after purchasing an additional 30,102 shares in the last quarter. Allworth Financial LP grew its holdings in shares of Steel Dynamics by 119.3% in the 2nd quarter. Allworth Financial LP now owns 11,012 shares of the basic materials company’s stock valued at $1,410,000 after buying an additional 5,991 shares during the period. Generali Asset Management SPA SGR acquired a new position in shares of Steel Dynamics in the 3rd quarter valued at $1,315,000. Nomura Asset Management Co. Ltd. increased its position in shares of Steel Dynamics by 21.9% in the 2nd quarter. Nomura Asset Management Co. Ltd. now owns 88,558 shares of the basic materials company’s stock valued at $11,336,000 after buying an additional 15,931 shares in the last quarter. Finally, Edgestream Partners L.P. raised its stake in Steel Dynamics by 477.1% during the 2nd quarter. Edgestream Partners L.P. now owns 32,427 shares of the basic materials company’s stock worth $4,151,000 after buying an additional 26,808 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on STLD. KeyCorp reissued an “overweight” rating and issued a $190.00 target price on shares of Steel Dynamics in a research note on Wednesday. Citigroup boosted their price objective on Steel Dynamics from $150.00 to $180.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a research note on Monday, December 29th. Jefferies Financial Group lifted their price target on shares of Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Finally, The Goldman Sachs Group set a $172.00 price target on shares of Steel Dynamics and gave the company a “neutral” rating in a report on Friday, October 31st. Five equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $182.00.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Miguel Alvarez sold 8,251 shares of Steel Dynamics stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total value of $1,343,180.29. Following the sale, the senior vice president owned 117,068 shares of the company’s stock, valued at approximately $19,057,499.72. The trade was a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.30% of the stock is owned by insiders.

Steel Dynamics Trading Down 1.7%

NASDAQ:STLD opened at $169.27 on Monday. The company has a market cap of $24.72 billion, a P/E ratio of 22.42, a price-to-earnings-growth ratio of 0.70 and a beta of 1.48. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $178.36. The business has a 50 day moving average price of $165.62 and a two-hundred day moving average price of $146.18. The company has a quick ratio of 1.47, a current ratio of 3.11 and a debt-to-equity ratio of 0.43.

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

Steel Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date was Wednesday, December 31st. Steel Dynamics’s dividend payout ratio is currently 26.49%.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.