Steel Dynamics, Inc. (NASDAQ:STLD) Shares Purchased by Nisa Investment Advisors LLC

Nisa Investment Advisors LLC raised its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 10.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 35,533 shares of the basic materials company's stock after purchasing an additional 3,382 shares during the period. Nisa Investment Advisors LLC's holdings in Steel Dynamics were worth $4,462,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in STLD. Ritholtz Wealth Management boosted its holdings in shares of Steel Dynamics by 24.4% in the first quarter. Ritholtz Wealth Management now owns 6,687 shares of the basic materials company's stock valued at $836,000 after acquiring an additional 1,310 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Steel Dynamics by 10.4% in the first quarter. Farther Finance Advisors LLC now owns 1,535 shares of the basic materials company's stock valued at $190,000 after acquiring an additional 145 shares during the period. Orion Portfolio Solutions LLC boosted its holdings in shares of Steel Dynamics by 63.4% in the fourth quarter. Orion Portfolio Solutions LLC now owns 7,354 shares of the basic materials company's stock valued at $839,000 after acquiring an additional 2,854 shares during the period. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Steel Dynamics by 31.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,511 shares of the basic materials company's stock valued at $3,441,000 after acquiring an additional 6,604 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Steel Dynamics in the fourth quarter valued at approximately $16,495,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Gabriel Shaheen sold 1,254 shares of Steel Dynamics stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $134.11, for a total transaction of $168,173.94. Following the completion of the sale, the director owned 81,812 shares in the company, valued at approximately $10,971,807.32. This trade represents a 1.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Miguel Alvarez sold 7,495 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the completion of the transaction, the senior vice president directly owned 125,319 shares of the company's stock, valued at $16,950,647.94. The trade was a 5.64% decrease in their position. The disclosure for this sale can be found here. Company insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on STLD shares. Morgan Stanley increased their price target on Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. UBS Group raised Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price target for the company in a report on Monday, March 24th. BMO Capital Markets raised Steel Dynamics from a "market perform" rating to an "outperform" rating and increased their price target for the stock from $135.00 to $145.00 in a report on Monday, March 31st. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $135.00 to $138.00 and gave the stock a "neutral" rating in a report on Thursday, April 24th. Finally, Wall Street Zen downgraded Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, Steel Dynamics has an average rating of "Moderate Buy" and an average target price of $148.00.

Steel Dynamics Price Performance

Shares of STLD stock traded down $1.41 during mid-day trading on Monday, reaching $133.66. The stock had a trading volume of 123,449 shares, compared to its average volume of 1,529,449. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $155.56. The company has a market cap of $19.84 billion, a P/E ratio of 17.65, a price-to-earnings-growth ratio of 1.05 and a beta of 1.37. The business has a 50-day simple moving average of $131.70 and a 200 day simple moving average of $127.06. The company has a current ratio of 2.74, a quick ratio of 1.38 and a debt-to-equity ratio of 0.44.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.04. Steel Dynamics had a return on equity of 13.26% and a net margin of 6.80%. The business had revenue of $4.37 billion during the quarter, compared to analysts' expectations of $4.17 billion. During the same quarter last year, the business posted $3.67 earnings per share. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Monday, June 30th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date was Monday, June 30th. Steel Dynamics's dividend payout ratio is currently 26.42%.

About Steel Dynamics

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.