Steel Dynamics, Inc. (NASDAQ:STLD) Shares Acquired by Holocene Advisors LP

Holocene Advisors LP lifted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 85.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,295,365 shares of the basic materials company’s stock after purchasing an additional 1,060,007 shares during the quarter. Steel Dynamics comprises about 1.2% of Holocene Advisors LP’s holdings, making the stock its 12th largest holding. Holocene Advisors LP’s holdings in Steel Dynamics were worth $289,400,000 as of its most recent filing with the SEC.

Other institutional investors have also recently added to or reduced their stakes in the company. Commerce Bank raised its position in shares of Steel Dynamics by 1.2% during the 3rd quarter. Commerce Bank now owns 5,981 shares of the basic materials company’s stock valued at $754,000 after buying an additional 73 shares during the period. Csenge Advisory Group raised its position in Steel Dynamics by 2.8% in the second quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock valued at $381,000 after purchasing an additional 81 shares during the period. Covestor Ltd lifted its stake in shares of Steel Dynamics by 10.8% in the 3rd quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock valued at $120,000 after purchasing an additional 93 shares during the last quarter. Dorsey Wright & Associates grew its holdings in shares of Steel Dynamics by 0.4% during the 2nd quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock worth $3,050,000 after purchasing an additional 96 shares during the period. Finally, Greenleaf Trust increased its position in shares of Steel Dynamics by 2.1% during the 3rd quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock worth $583,000 after purchasing an additional 96 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. BMO Capital Markets lifted their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Morgan Stanley cut their target price on 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 Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. The Goldman Sachs Group started coverage on Steel Dynamics in a report on Monday. They issued a “neutral” rating and a $155.00 price objective on the stock. Finally, UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and raised their target price for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $145.63.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,000 shares of the stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $138.75, for a total value of $277,500.00. Following the transaction, the senior vice president now directly owns 21,101 shares in the company, valued at $2,927,763.75. This represents a 8.66 % 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, SVP Miguel Alvarez sold 6,650 shares of the business’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total transaction of $950,950.00. Following the sale, the senior vice president now owns 116,949 shares of the company’s stock, valued at $16,723,707. This represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 28,591 shares of company stock worth $3,885,938 over the last ninety days. Corporate insiders own 6.00% of the company’s stock.

Steel Dynamics Trading Up 1.0 %

STLD opened at $145.27 on Monday. The business has a fifty day moving average price of $135.06 and a 200 day moving average price of $127.75. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The stock has a market capitalization of $22.12 billion, a price-to-earnings ratio of 13.15 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly 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. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter in the previous year, the firm earned $3.47 earnings per share. The firm’s quarterly revenue was down 5.4% on a year-over-year basis. Sell-side analysts expect that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.46 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.27%. Steel Dynamics’s payout ratio is currently 16.65%.

About Steel Dynamics

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.