Gladius Capital Management LP Acquires Shares of 757 Steel Dynamics, Inc. (NASDAQ:STLD)

Gladius Capital Management LP bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 757 shares of the basic materials company’s stock, valued at approximately $95,000.

Other hedge funds have also modified their holdings of the company. Csenge Advisory Group grew its stake in Steel Dynamics by 2.8% during the 2nd quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock valued at $381,000 after acquiring an additional 81 shares in the last quarter. Covestor Ltd lifted its position in Steel Dynamics by 10.8% during the third quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock worth $120,000 after buying an additional 93 shares in the last quarter. Dorsey Wright & Associates boosted its stake in Steel Dynamics by 0.4% during the second quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock worth $3,050,000 after buying an additional 96 shares during the last quarter. Greenleaf Trust increased its stake in shares of Steel Dynamics by 2.1% in the 3rd quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock worth $583,000 after acquiring an additional 96 shares during the last quarter. Finally, Stiles Financial Services Inc increased its stake in shares of Steel Dynamics by 0.5% in the 2nd quarter. Stiles Financial Services Inc now owns 18,753 shares of the basic materials company’s stock worth $2,429,000 after acquiring an additional 99 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Miguel Alvarez sold 6,650 shares of the stock in a transaction that occurred on Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total value of $950,950.00. Following the transaction, the senior vice president now directly owns 116,949 shares in the company, valued at $16,723,707. This represents a 5.38 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Chad Bickford sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, October 28th. The stock was sold at an average price of $134.86, for a total transaction of $269,720.00. Following the sale, the vice president now owns 17,100 shares of the company’s stock, valued at $2,306,106. This represents a 10.47 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 26,591 shares of company stock valued at $3,608,438 in the last ninety days. Insiders own 6.00% of the company’s stock.

Steel Dynamics Stock Up 1.2 %

Shares of STLD opened at $139.41 on Friday. The company’s 50-day simple moving average is $128.98 and its 200-day simple moving average is $127.09. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. Steel Dynamics, Inc. has a 1 year low of $104.60 and a 1 year high of $155.56. The stock has a market capitalization of $21.22 billion, a PE ratio of 12.62 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the business earned $3.47 EPS. Analysts forecast that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.32%. The ex-dividend date is Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is presently 16.65%.

Wall Street Analyst Weigh In

Several analysts have recently commented on STLD shares. JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. BMO Capital Markets raised their price objective on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Morgan Stanley decreased their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. Finally, UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Steel Dynamics currently has an average rating of “Hold” and an average target price of $144.29.

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.