Pacer Advisors Inc. grew its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 77.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 153,339 shares of the basic materials company’s stock after purchasing an additional 66,813 shares during the quarter. Pacer Advisors Inc. owned approximately 0.07% of Steel Dynamics worth $4,570,000 as of its most recent filing with the SEC.
Several other large investors have also recently bought and sold shares of the company. Empirical Finance LLC lifted its stake in shares of Steel Dynamics by 1.1% in the second quarter. Empirical Finance LLC now owns 32,950 shares of the basic materials company’s stock valued at $995,000 after buying an additional 363 shares in the last quarter. Rehmann Capital Advisory Group lifted its stake in shares of Steel Dynamics by 96.9% in the second quarter. Rehmann Capital Advisory Group now owns 1,016 shares of the basic materials company’s stock valued at $31,000 after buying an additional 500 shares in the last quarter. Municipal Employees Retirement System of Michigan lifted its stake in shares of Steel Dynamics by 1.4% in the second quarter. Municipal Employees Retirement System of Michigan now owns 42,440 shares of the basic materials company’s stock valued at $1,282,000 after buying an additional 590 shares in the last quarter. US Bancorp DE lifted its stake in shares of Steel Dynamics by 4.2% in the second quarter. US Bancorp DE now owns 16,695 shares of the basic materials company’s stock valued at $505,000 after buying an additional 668 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. lifted its stake in shares of Steel Dynamics by 2.5% in the second quarter. Candriam Luxembourg S.C.A. now owns 27,559 shares of the basic materials company’s stock valued at $829,000 after buying an additional 674 shares in the last quarter. 79.78% of the stock is currently owned by institutional investors.
In related news, SVP Miguel Alvarez acquired 8,920 shares of the firm’s stock in a transaction that occurred on Friday, September 6th. The stock was acquired at an average price of $27.72 per share, for a total transaction of $247,262.40. Following the completion of the acquisition, the senior vice president now owns 700 shares of the company’s stock, valued at approximately $19,404. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 4.90% of the company’s stock.
Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Monday, July 22nd. The basic materials company reported $0.87 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.89 by ($0.02). The firm had revenue of $2.77 billion during the quarter, compared to analysts’ expectations of $2.78 billion. Steel Dynamics had a net margin of 9.11% and a return on equity of 28.50%. The business’s revenue for the quarter was down 10.4% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.53 EPS. As a group, research analysts expect that Steel Dynamics, Inc. will post 3.1 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a dividend of $0.24 per share. The ex-dividend date of this dividend was Friday, September 27th. This represents a $0.96 dividend on an annualized basis and a yield of 3.16%. Steel Dynamics’s dividend payout ratio (DPR) is presently 17.49%.
A number of research analysts have weighed in on the stock. BMO Capital Markets lowered shares of Steel Dynamics to a “hold” rating and set a $30.00 price objective on the stock. in a research note on Friday, September 13th. Deutsche Bank reaffirmed a “hold” rating on shares of Steel Dynamics in a research note on Thursday, June 27th. BidaskClub raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Saturday. Macquarie set a $31.00 price objective on shares of Steel Dynamics and gave the company a “hold” rating in a research note on Wednesday, September 18th. Finally, Longbow Research lowered shares of Steel Dynamics from a “buy” rating to a “neutral” rating in a research note on Monday, August 26th. Nine equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $33.40.
Steel Dynamics Profile
Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.
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