Steel Dynamics, Inc. (NASDAQ:STLD) Shares Acquired by Gateway Investment Advisers LLC

Gateway Investment Advisers LLC grew its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 56,034 shares of the basic materials company’s stock after acquiring an additional 156 shares during the quarter. Gateway Investment Advisers LLC’s holdings in Steel Dynamics were worth $7,065,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. National Bank of Canada FI grew its stake in shares of Steel Dynamics by 481.2% in the second quarter. National Bank of Canada FI now owns 328,795 shares of the basic materials company’s stock worth $42,461,000 after purchasing an additional 272,226 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its position in Steel Dynamics by 65.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company’s stock valued at $74,064,000 after buying an additional 225,832 shares in the last quarter. Swedbank AB acquired a new position in Steel Dynamics during the 1st quarter valued at about $32,178,000. Acadian Asset Management LLC raised its position in shares of Steel Dynamics by 21.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock worth $168,550,000 after buying an additional 202,312 shares in the last quarter. Finally, Renaissance Technologies LLC acquired a new stake in shares of Steel Dynamics in the 2nd quarter worth approximately $24,670,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Trading Up 1.1 %

Shares of STLD opened at $129.86 on Friday. The business’s 50-day moving average price is $119.64 and its 200 day moving average price is $127.93. The company has a current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25. The stock has a market capitalization of $20.41 billion, a P/E ratio of 8.92 and a beta of 1.31. Steel Dynamics, Inc. has a 1-year low of $98.25 and a 1-year high of $151.34.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.05. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the previous year, the business earned $4.81 earnings per share. The firm’s revenue was down 8.8% compared to the same quarter last year. Analysts expect that Steel Dynamics, Inc. will post 10.15 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.42%. The ex-dividend date was Monday, September 30th. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on STLD. BMO Capital Markets raised their price objective on shares of Steel Dynamics from $127.00 to $130.00 and gave the company a “market perform” rating in a research note on Thursday. JPMorgan Chase & Co. dropped their price objective on Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating on the stock in a research note on Wednesday. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Finally, Morgan Stanley cut their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $142.86.

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.