Victory Capital Management Inc. Has $33.60 Million Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Victory Capital Management Inc. grew its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 4.2% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 266,499 shares of the basic materials company’s stock after purchasing an additional 10,758 shares during the period. Victory Capital Management Inc. owned about 0.17% of Steel Dynamics worth $33,600,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the business. Csenge Advisory Group lifted its position 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 worth $381,000 after buying an additional 81 shares in the last quarter. Covestor Ltd raised its holdings 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 acquiring an additional 93 shares in the last quarter. Dorsey Wright & Associates boosted its position 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 valued at $3,050,000 after purchasing an additional 96 shares during the last quarter. Greenleaf Trust grew its stake in Steel Dynamics by 2.1% in the third quarter. Greenleaf Trust now owns 4,621 shares of the basic materials company’s stock valued at $583,000 after purchasing an additional 96 shares in the last quarter. Finally, Stiles Financial Services Inc raised its stake in shares of Steel Dynamics by 0.5% during the 2nd quarter. Stiles Financial Services Inc now owns 18,753 shares of the basic materials company’s stock worth $2,429,000 after purchasing an additional 99 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Steel Dynamics Trading Up 1.2 %

Shares of NASDAQ:STLD opened at $139.41 on Friday. The stock has a market cap of $21.22 billion, a PE ratio of 12.62 and a beta of 1.31. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56. The business has a 50 day moving average of $128.98 and a 200-day moving average of $127.09.

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

Steel Dynamics Announces Dividend

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

Insiders Place Their Bets

In related news, SVP Miguel Alvarez sold 6,650 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Glenn Pushis sold 17,941 shares of the firm’s stock in a transaction dated 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 transaction, the senior vice president now directly owns 146,693 shares in the company, valued at approximately $19,523,371.37. This represents a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 26,591 shares of company stock worth $3,608,438 in the last quarter. Corporate insiders own 6.00% of the company’s stock.

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.