Steel Dynamics, Inc. $STLD Shares Acquired by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC raised its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 9.2% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 47,394 shares of the basic materials company’s stock after acquiring an additional 4,002 shares during the period. Nisa Investment Advisors LLC’s holdings in Steel Dynamics were worth $10,531,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in shares of Steel Dynamics during the 2nd quarter worth approximately $2,844,501,000. Bank of America Corp DE bought a new stake in shares of Steel Dynamics in the second quarter worth $264,212,000. Bank of New York Mellon Corp bought a new stake in shares of Steel Dynamics in the second quarter worth $211,159,000. Hsbc Holdings PLC boosted its holdings in Steel Dynamics by 92.4% during the fourth quarter. Hsbc Holdings PLC now owns 1,030,448 shares of the basic materials company’s stock worth $174,609,000 after purchasing an additional 494,828 shares during the last quarter. Finally, Deutsche Bank AG acquired a new position in Steel Dynamics during the second quarter worth $126,579,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Down 3.3%

Steel Dynamics stock opened at $239.90 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.14 and a quick ratio of 1.45. The company’s 50-day moving average is $237.41 and its 200-day moving average is $238.44. The firm has a market capitalization of $34.38 billion, a PE ratio of 17.70, a P/E/G ratio of 0.36 and a beta of 1.48. Steel Dynamics, Inc. has a fifty-two week low of $148.13 and a fifty-two week high of $288.74.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Monday, October 19th. The basic materials company reported $5.26 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.48 by ($0.22). The company had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.43 billion. Steel Dynamics had a return on equity of 21.57% and a net margin of 8.82%. The business’s quarterly revenue was up 34.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.74 EPS. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 17.92 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.53 per share. The ex-dividend date was Wednesday, September 30th. This represents a $2.12 annualized dividend and a yield of 0.9%. Steel Dynamics’s dividend payout ratio (DPR) is presently 15.65%.

Analyst Ratings Changes

A number of research analysts recently weighed in on STLD shares. Morgan Stanley decreased their target price on shares of Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. KeyCorp reissued an “overweight” rating on shares of Steel Dynamics in a research report on Wednesday, July 22nd. UBS Group increased their price objective on shares of Steel Dynamics from $165.00 to $276.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Wall Street Zen cut Steel Dynamics from a “strong-buy” rating to a “buy” rating in a report on Sunday, September 20th. Finally, JPMorgan Chase & Co. decreased their price objective on Steel Dynamics from $272.00 to $260.00 and set a “neutral” rating for the company in a report on Friday, October 9th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $259.82.

About Steel Dynamics

Steel Dynamics, Inc is a steel producer and metals recycler headquartered in Fort Wayne, Indiana. The company manufactures steel products using electric arc furnace technology and serves customers across industries such as construction, automotive, manufacturing, and energy.

Its operations include the production of flat rolled steel, long steel products, structural steel, rail, and specialty products. Steel Dynamics also provides steel processing and fabrication services, including the manufacture of steel joists, deck systems, and other components used in commercial and industrial construction.

The company operates metals recycling facilities that collect, process, and supply ferrous and nonferrous scrap to support its steelmaking operations.