Gotham Asset Management LLC Buys Shares of 149,080 Steel Dynamics, Inc. (STLD)

Gotham Asset Management LLC bought a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 149,080 shares of the basic materials company’s stock, valued at approximately $5,339,000. Gotham Asset Management LLC owned about 0.06% of Steel Dynamics as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of STLD. UBS Asset Management Americas Inc. lifted its position in Steel Dynamics by 51.0% during the first quarter. UBS Asset Management Americas Inc. now owns 226,946 shares of the basic materials company’s stock valued at $7,889,000 after acquiring an additional 76,681 shares during the last quarter. KBC Group NV purchased a new stake in Steel Dynamics during the first quarter valued at approximately $790,000. Asset Management One Co. Ltd. purchased a new stake in Steel Dynamics during the first quarter valued at approximately $2,712,000. Teachers Advisors LLC lifted its position in Steel Dynamics by 20.4% during the first quarter. Teachers Advisors LLC now owns 1,314,655 shares of the basic materials company’s stock valued at $45,697,000 after acquiring an additional 223,142 shares during the last quarter. Finally, Laurion Capital Management LP purchased a new stake in Steel Dynamics during the first quarter valued at approximately $342,000. 82.64% of the stock is owned by institutional investors.

Steel Dynamics, Inc. (NASDAQ:STLD) opened at 35.63 on Wednesday. The firm has a 50 day moving average of $34.29 and a 200-day moving average of $34.88. The stock has a market cap of $8.55 billion, a PE ratio of 16.37 and a beta of 1.29. Steel Dynamics, Inc. has a 12-month low of $23.34 and a 12-month high of $40.17.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, July 19th. The basic materials company reported $0.63 EPS for the quarter, meeting the consensus estimate of $0.63. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. The firm had revenue of $2.39 billion during the quarter, compared to the consensus estimate of $2.37 billion. During the same quarter in the prior year, the firm earned $0.58 EPS. Steel Dynamics’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, analysts expect that Steel Dynamics, Inc. will post $2.71 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Investors of record on Saturday, September 30th will be given a $0.155 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.62 annualized dividend and a yield of 1.74%. Steel Dynamics’s dividend payout ratio (DPR) is 28.57%.

STLD has been the subject of a number of analyst reports. Jefferies Group LLC reissued a “buy” rating and set a $45.00 target price on shares of Steel Dynamics in a research report on Monday, June 26th. Deutsche Bank AG reissued a “buy” rating on shares of Steel Dynamics in a research report on Saturday, June 24th. Berenberg Bank reissued a “buy” rating and set a $46.00 target price on shares of Steel Dynamics in a research report on Monday, June 19th. Longbow Research raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating in a research report on Monday, June 19th. Finally, Bank of America Corporation increased their target price on shares of Steel Dynamics from $40.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, July 21st. Eight analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $40.63.

COPYRIGHT VIOLATION NOTICE: This story was first reported by StockNewsTimes and is the property of of StockNewsTimes. If you are viewing this story on another website, it was illegally copied and reposted in violation of international trademark and copyright legislation. The correct version of this story can be viewed at https://stocknewstimes.com/2017/10/11/gotham-asset-management-llc-buys-shares-of-149080-steel-dynamics-inc-stld.html.

In related news, insider Christopher A. Graham sold 5,021 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $38.05, for a total value of $191,049.05. Following the completion of the sale, the insider now owns 26,778 shares in the company, valued at approximately $1,018,902.90. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Keith E. Busse sold 4,965 shares of the company’s stock in a transaction on Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total transaction of $190,755.30. Following the completion of the sale, the director now owns 1,005,666 shares of the company’s stock, valued at approximately $38,637,687.72. The disclosure for this sale can be found here. 4.20% of the stock is owned by corporate insiders.

Steel Dynamics Profile

Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.

Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

Receive News & Ratings for Steel Dynamics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply