Steel Dynamics, Inc. (NASDAQ:STLD) Shares Bought by Tandem Capital Management Corp ADV

Tandem Capital Management Corp ADV grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 228.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 5,295 shares of the basic materials company’s stock after acquiring an additional 3,685 shares during the period. Tandem Capital Management Corp ADV’s holdings in Steel Dynamics were worth $668,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STLD. Nordea Investment Management AB grew its position in shares of Steel Dynamics by 2.5% in the first quarter. Nordea Investment Management AB now owns 1,034,133 shares of the basic materials company’s stock valued at $153,290,000 after purchasing an additional 25,280 shares during the last quarter. SG Americas Securities LLC increased its position in Steel Dynamics by 1,498.4% during the first quarter. SG Americas Securities LLC now owns 29,730 shares of the basic materials company’s stock worth $4,407,000 after buying an additional 27,870 shares in the last quarter. Trustmark National Bank Trust Department lifted its position in shares of Steel Dynamics by 126.6% in the first quarter. Trustmark National Bank Trust Department now owns 7,134 shares of the basic materials company’s stock valued at $1,057,000 after acquiring an additional 3,986 shares in the last quarter. Bessemer Group Inc. boosted its stake in shares of Steel Dynamics by 2,679.3% during the first quarter. Bessemer Group Inc. now owns 10,867 shares of the basic materials company’s stock valued at $1,611,000 after acquiring an additional 10,476 shares during the last quarter. Finally, LBP AM SA increased its position in Steel Dynamics by 26.5% during the 1st quarter. LBP AM SA now owns 21,966 shares of the basic materials company’s stock worth $3,256,000 after purchasing an additional 4,599 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the completion of the sale, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.00% of the company’s stock.

Steel Dynamics Trading Up 1.0 %

Shares of STLD stock traded up $1.25 on Friday, reaching $131.59. 13,994 shares of the stock were exchanged, compared to its average volume of 1,259,765. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The stock has a market cap of $20.30 billion, a P/E ratio of 11.80 and a beta of 1.31. The firm has a 50 day moving average of $121.95 and a two-hundred day moving average of $127.06. Steel Dynamics, Inc. has a 1-year low of $100.20 and a 1-year high of $151.34.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.18 billion. During the same period last year, the business posted $3.47 EPS. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. On average, research analysts anticipate that Steel Dynamics, Inc. will post 10.22 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.40%. The ex-dividend date was Monday, September 30th. Steel Dynamics’s payout ratio is currently 16.65%.

Wall Street Analyst Weigh In

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

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.