GAMMA Investing LLC Has $276,000 Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

GAMMA Investing LLC lifted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 24.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,420 shares of the basic materials company’s stock after acquiring an additional 473 shares during the period. GAMMA Investing LLC’s holdings in Steel Dynamics were worth $276,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Holocene Advisors LP increased its stake in Steel Dynamics by 85.8% in the third quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock valued at $289,400,000 after purchasing an additional 1,060,007 shares in the last quarter. Lord Abbett & CO. LLC increased its position in Steel Dynamics by 116.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock valued at $128,434,000 after buying an additional 548,086 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in Steel Dynamics by 65.3% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company’s stock worth $74,064,000 after buying an additional 225,832 shares during the period. Renaissance Technologies LLC bought a new position in Steel Dynamics in the second quarter worth approximately $24,670,000. Finally, Pacer Advisors Inc. grew its stake in Steel Dynamics by 7.0% in the second quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company’s stock valued at $276,891,000 after acquiring an additional 140,042 shares during the period. 82.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the completion of the sale, the senior vice president now owns 21,101 shares of the company’s stock, valued at approximately $2,927,763.75. This trade represents a 8.66 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Glenn Pushis sold 17,941 shares of the business’s stock in a transaction dated Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the sale, the senior vice president now owns 146,693 shares in the company, valued at $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. Over the last 90 days, insiders sold 28,591 shares of company stock worth $3,885,938. Insiders own 6.00% of the company’s stock.

Steel Dynamics Trading Up 1.0 %

NASDAQ:STLD opened at $119.81 on Wednesday. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56. The firm has a 50-day moving average price of $132.03 and a two-hundred day moving average price of $126.74. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. The firm has a market cap of $18.24 billion, a price-to-earnings ratio of 10.84 and a beta of 1.36.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results 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. 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 during the quarter, compared to the consensus estimate of $4.18 billion. During the same period last year, the business posted $3.47 earnings per share. Steel Dynamics’s revenue was down 5.4% on a year-over-year basis. On average, equities analysts expect that Steel Dynamics, Inc. will post 10.09 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 annualized dividend and a yield of 1.54%. Steel Dynamics’s payout ratio is currently 16.65%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on STLD. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and upped their target price for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Jefferies Financial Group dropped their price objective on shares of Steel Dynamics from $145.00 to $125.00 and set a “hold” rating on the stock in a research note on Monday. BMO Capital Markets boosted their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. JPMorgan Chase & Co. raised their price target on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research report on Friday, October 18th. Finally, UBS Group reissued a “neutral” rating and set a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, Steel Dynamics currently has a consensus rating of “Hold” and a consensus price target of $141.13.

Steel Dynamics Company 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.