Manning & Napier Advisors LLC Purchases 9,938 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Manning & Napier Advisors LLC increased its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 85.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 21,504 shares of the basic materials company’s stock after acquiring an additional 9,938 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Steel Dynamics were worth $2,453,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of STLD. Holocene Advisors LP increased its position in shares of Steel Dynamics by 85.8% during the 3rd quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock valued at $289,400,000 after purchasing an additional 1,060,007 shares during the last quarter. Lord Abbett & CO. LLC increased its position in shares of Steel Dynamics by 116.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock valued at $128,434,000 after purchasing an additional 548,086 shares during the last quarter. Nordea Investment Management AB increased its position in shares of Steel Dynamics by 22.4% during the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock valued at $158,487,000 after purchasing an additional 253,802 shares during the last quarter. AEGON ASSET MANAGEMENT UK Plc increased its position in shares of Steel Dynamics by 192.4% during the 4th quarter. AEGON ASSET MANAGEMENT UK Plc now owns 250,621 shares of the basic materials company’s stock valued at $28,577,000 after purchasing an additional 164,895 shares during the last quarter. Finally, World Investment Advisors LLC purchased a new stake in shares of Steel Dynamics during the 3rd quarter valued at about $15,880,000. Institutional investors own 82.41% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Richard A. Poinsatte sold 2,000 shares of the firm’s stock in a transaction on Friday, November 15th. The stock was sold at an average price of $138.75, for a total transaction of $277,500.00. Following the transaction, the senior vice president now owns 21,101 shares in the company, valued at approximately $2,927,763.75. This trade represents a 8.66 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Miguel Alvarez sold 6,650 shares of the firm’s stock in a transaction 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 owns 116,949 shares in the company, valued at approximately $16,723,707. This represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on STLD shares. Citigroup reduced their price target on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 target price for the company. UBS Group reissued a “neutral” rating and issued a $149.00 target price (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Finally, Jefferies Financial Group upgraded Steel Dynamics from a “hold” rating to a “buy” rating and upped their price target for the stock from $125.00 to $145.00 in a research note on Friday, January 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $143.38.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $130.71 on Friday. The stock’s fifty day moving average is $126.04 and its 200 day moving average is $126.36. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The firm has a market capitalization of $19.90 billion, a PE ratio of 13.34 and a beta of 1.36. 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 (NASDAQ:STLD) last released its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.25% and a net margin of 8.76%. During the same period in the previous year, the business posted $2.61 earnings per share. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 8.93 earnings per share for the current year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were paid a $0.46 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.84 dividend on an annualized basis and a yield of 1.41%. Steel Dynamics’s payout ratio is 18.78%.

Steel Dynamics Company 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.