8,361 Shares in Steel Dynamics, Inc. $STLD Bought by Fox Run Management L.L.C.

Fox Run Management L.L.C. purchased a new position in Steel Dynamics, Inc. (NASDAQ:STLD) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 8,361 shares of the basic materials company’s stock, valued at approximately $1,070,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD increased its holdings in shares of Steel Dynamics by 25.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company’s stock worth $883,854,000 after buying an additional 1,437,897 shares during the period. Nordea Investment Management AB increased its stake in Steel Dynamics by 43.3% in the 2nd quarter. Nordea Investment Management AB now owns 2,088,372 shares of the basic materials company’s stock worth $271,238,000 after purchasing an additional 630,935 shares during the period. Victory Capital Management Inc. lifted its position in Steel Dynamics by 433.1% in the first quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company’s stock valued at $227,211,000 after purchasing an additional 1,475,767 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in shares of Steel Dynamics by 40.6% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,675,973 shares of the basic materials company’s stock valued at $214,541,000 after purchasing an additional 484,304 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of Steel Dynamics by 3.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,599,076 shares of the basic materials company’s stock valued at $200,012,000 after purchasing an additional 52,218 shares during the period. 82.41% of the stock is owned by institutional investors.

Insider Transactions 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 shares were sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the completion of the transaction, the senior vice president directly owned 117,068 shares of the company’s stock, valued at $19,057,499.72. This trade represents a 6.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 6.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

STLD has been the subject of several analyst reports. Wells Fargo & Company increased their price target on shares of Steel Dynamics from $150.00 to $169.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Jefferies Financial Group increased their target price on shares of Steel Dynamics from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. The Goldman Sachs Group set a $172.00 target price on Steel Dynamics and gave the stock a “neutral” rating in a research note on Friday, October 31st. UBS Group set a $165.00 price target on Steel Dynamics in a report on Tuesday. Finally, KeyCorp increased their price objective on Steel Dynamics from $152.00 to $165.00 and gave the stock an “overweight” rating in a report on Monday, October 27th. Seven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $170.11.

Steel Dynamics Stock Performance

Steel Dynamics stock opened at $151.94 on Friday. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $164.73. The stock’s 50 day simple moving average is $143.23 and its two-hundred day simple moving average is $134.69. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.11. The stock has a market cap of $22.19 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 1.39 and a beta of 1.45.

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

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Tuesday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 26.49%.

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.