Steel Dynamics, Inc. (STLD) Shares Bought by Rhumbline Advisers

Rhumbline Advisers raised its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 10.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 522,993 shares of the basic materials company’s stock after acquiring an additional 49,622 shares during the period. Rhumbline Advisers owned approximately 0.22% of Steel Dynamics worth $18,028,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Toronto Dominion Bank purchased a new position in shares of Steel Dynamics during the 2nd quarter worth approximately $107,000. Hefty Wealth Partners increased its stake in Steel Dynamics by 76.1% in the 3rd quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock valued at $118,000 after purchasing an additional 1,477 shares in the last quarter. Washington Trust Bank increased its stake in Steel Dynamics by 48.8% in the 2nd quarter. Washington Trust Bank now owns 3,393 shares of the basic materials company’s stock valued at $122,000 after purchasing an additional 1,113 shares in the last quarter. Advisory Services Network LLC increased its stake in Steel Dynamics by 2.3% in the 2nd quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock valued at $158,000 after purchasing an additional 101 shares in the last quarter. Finally, Creative Planning increased its stake in Steel Dynamics by 36.3% in the 2nd quarter. Creative Planning now owns 4,718 shares of the basic materials company’s stock valued at $169,000 after purchasing an additional 1,256 shares in the last quarter. 83.45% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics, Inc. (NASDAQ STLD) traded up $0.48 during trading hours on Wednesday, reaching $39.21. The company had a trading volume of 2,135,289 shares, compared to its average volume of 3,081,673. The firm has a market capitalization of $9,290.00, a P/E ratio of 15.66, a price-to-earnings-growth ratio of 1.24 and a beta of 1.39. Steel Dynamics, Inc. has a fifty-two week low of $32.15 and a fifty-two week high of $40.41. The company has a quick ratio of 1.95, a current ratio of 3.35 and a debt-to-equity ratio of 0.80.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, October 18th. The basic materials company reported $0.66 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.66. Steel Dynamics had a return on equity of 21.45% and a net margin of 5.79%. The company had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. Steel Dynamics’s quarterly revenue was up 16.3% compared to the same quarter last year. analysts expect that Steel Dynamics, Inc. will post 2.67 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 10th. Stockholders of record on Sunday, December 31st will be given a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.62 annualized dividend and a dividend yield of 1.58%. Steel Dynamics’s dividend payout ratio is presently 28.57%.

STLD has been the topic of a number of analyst reports. Jefferies Group reiterated a “buy” rating and set a $43.00 target price on shares of Steel Dynamics in a report on Friday, October 6th. Citigroup decreased their price objective on Steel Dynamics from $43.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, September 15th. Morgan Stanley set a $36.00 price objective on Steel Dynamics and gave the stock a “hold” rating in a report on Tuesday, October 24th. KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $44.00 target price on the stock in a report on Friday, October 20th. Finally, Longbow Research cut Steel Dynamics from a “buy” rating to a “neutral” rating in a report on Monday, October 2nd. Eight equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Steel Dynamics currently has an average rating of “Buy” and a consensus price target of $41.70.

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About Steel Dynamics

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)

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