Bailard Inc. Boosts Stake in Steel Dynamics, Inc. $STLD

Bailard Inc. grew its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 12.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 101,166 shares of the basic materials company’s stock after acquiring an additional 10,821 shares during the quarter. Bailard Inc. owned about 0.07% of Steel Dynamics worth $14,106,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of STLD. Ninety One UK Ltd grew its holdings in Steel Dynamics by 33.5% during the 3rd 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 boosted its position in 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 last quarter. Generali Asset Management SPA SGR acquired a new stake in shares of Steel Dynamics during the third quarter valued at about $1,315,000. Nomura Asset Management Co. Ltd. increased its position in shares of Steel Dynamics by 21.9% during the second quarter. Nomura Asset Management Co. Ltd. now owns 88,558 shares of the basic materials company’s stock worth $11,336,000 after acquiring an additional 15,931 shares during the last quarter. Finally, VCI Wealth Management LLC acquired a new position in shares of Steel Dynamics in the third quarter worth about $957,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on STLD shares. JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $165.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Jefferies Financial Group increased their target price on Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. The Goldman Sachs Group set a $172.00 price target on shares of Steel Dynamics and gave the stock a “neutral” rating in a research note on Friday, October 31st. BMO Capital Markets upped their price target on shares of Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a report on Wednesday, October 22nd. Finally, UBS Group set a $165.00 price objective on shares of Steel Dynamics in a report on Tuesday, November 4th. Five equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $182.00.

Steel Dynamics Trading Down 1.0%

Steel Dynamics stock opened at $171.81 on Wednesday. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $178.36. The firm’s 50-day moving average is $168.27 and its 200-day moving average is $148.18. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.47 and a current ratio of 3.11. The company has a market cap of $25.09 billion, a P/E ratio of 22.76, a PEG ratio of 0.72 and a beta of 1.48.

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

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st were given 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 presently 26.49%.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Miguel Alvarez sold 8,251 shares of the firm’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 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. This trade represents a 6.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 6.30% of the company’s stock.

Steel Dynamics 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.