Nisa Investment Advisors LLC Buys 4,002 Shares of Steel Dynamics, Inc. $STLD

Nisa Investment Advisors LLC grew its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 9.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,394 shares of the basic materials company’s stock after acquiring an additional 4,002 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Steel Dynamics were worth $10,531,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Keating Financial Advisory Services Inc. boosted its stake in Steel Dynamics by 27.1% during the 2nd quarter. Keating Financial Advisory Services Inc. now owns 197 shares of the basic materials company’s stock worth $45,000 after acquiring an additional 42 shares during the last quarter. Parkside Financial Bank & Trust increased its stake in Steel Dynamics by 2.7% in the second quarter. Parkside Financial Bank & Trust now owns 1,726 shares of the basic materials company’s stock valued at $396,000 after purchasing an additional 45 shares in the last quarter. Nilsine Partners LLC increased its stake in Steel Dynamics by 6.8% in the second quarter. Nilsine Partners LLC now owns 969 shares of the basic materials company’s stock valued at $222,000 after purchasing an additional 62 shares in the last quarter. Kestra Private Wealth Services LLC increased its stake in Steel Dynamics by 2.7% in the first quarter. Kestra Private Wealth Services LLC now owns 2,396 shares of the basic materials company’s stock valued at $431,000 after purchasing an additional 64 shares in the last quarter. Finally, Trustmark Bank Trust Department raised its holdings in Steel Dynamics by 4.5% in the second quarter. Trustmark Bank Trust Department now owns 1,613 shares of the basic materials company’s stock worth $370,000 after purchasing an additional 70 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on STLD shares. Wall Street Zen cut shares of Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Sunday, September 20th. Morgan Stanley lowered their price objective on shares of Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. The Goldman Sachs Group restated a “buy” rating and issued a $299.00 price objective on shares of Steel Dynamics in a research report on Tuesday. Weiss Ratings downgraded Steel Dynamics from a “buy (b)” rating to a “buy (b-)” rating in a research note on Tuesday, October 13th. Finally, Wells Fargo & Company lifted their target price on Steel Dynamics from $257.00 to $271.00 and gave the stock an “overweight” rating in a report on Wednesday. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Steel Dynamics presently has a consensus rating of “Moderate Buy” and an average price target of $259.82.

Steel Dynamics Stock Performance

Shares of STLD opened at $239.90 on Friday. The firm has a market cap of $34.38 billion, a P/E ratio of 17.70, a PEG ratio of 0.36 and a beta of 1.48. Steel Dynamics, Inc. has a twelve month low of $148.13 and a twelve month high of $288.74. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.45 and a current ratio of 3.14. The firm’s 50 day moving average price is $237.41 and its two-hundred day moving average price is $238.44.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Monday, October 19th. The basic materials company reported $5.26 EPS for the quarter, missing analysts’ consensus estimates of $5.48 by ($0.22). Steel Dynamics had a return on equity of 21.57% and a net margin of 8.82%. The company had revenue of $6.51 billion for the quarter, compared to analyst estimates of $6.43 billion. During the same quarter in the previous year, the business earned $2.74 earnings per share. The company’s revenue was up 34.8% on a year-over-year basis. On average, analysts forecast that Steel Dynamics, Inc. will post 17.92 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th were issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date was Wednesday, September 30th. Steel Dynamics’s dividend payout ratio is 15.65%.

Steel Dynamics Profile

Steel Dynamics, Inc is a steel producer and metals recycler headquartered in Fort Wayne, Indiana. The company manufactures steel products using electric arc furnace technology and serves customers across industries such as construction, automotive, manufacturing, and energy.

Its operations include the production of flat rolled steel, long steel products, structural steel, rail, and specialty products. Steel Dynamics also provides steel processing and fabrication services, including the manufacture of steel joists, deck systems, and other components used in commercial and industrial construction.

The company operates metals recycling facilities that collect, process, and supply ferrous and nonferrous scrap to support its steelmaking operations.