Steel Dynamics, Inc. (NASDAQ:STLD) is BTS Asset Management Inc.’s 10th Largest Position

BTS Asset Management Inc. grew its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 65.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 4,881 shares of the basic materials company’s stock after buying an additional 1,926 shares during the quarter. Steel Dynamics makes up about 0.6% of BTS Asset Management Inc.’s portfolio, making the stock its 10th largest holding. BTS Asset Management Inc.’s holdings in Steel Dynamics were worth $615,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Price T Rowe Associates Inc. MD grew its stake in Steel Dynamics by 4.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock valued at $534,295,000 after acquiring an additional 152,254 shares in the last quarter. Pacer Advisors Inc. boosted its holdings in shares of Steel Dynamics by 7.0% during the 2nd quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company’s stock worth $276,891,000 after purchasing an additional 140,042 shares during the last quarter. Thrivent Financial for Lutherans grew its position in shares of Steel Dynamics by 1.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company’s stock valued at $228,999,000 after purchasing an additional 22,390 shares in the last quarter. LSV Asset Management increased its holdings in shares of Steel Dynamics by 3.9% in the second quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company’s stock valued at $182,604,000 after purchasing an additional 53,532 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in Steel Dynamics by 21.6% during the first quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock worth $168,550,000 after buying an additional 202,312 shares during the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Down 2.4 %

Shares of NASDAQ STLD opened at $128.64 on Thursday. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The business’s 50 day moving average is $121.70 and its two-hundred day moving average is $127.03. Steel Dynamics, Inc. has a 52-week low of $98.74 and a 52-week high of $151.34. The firm has a market cap of $19.85 billion, a price-to-earnings ratio of 11.64 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.18 billion. During the same quarter in the previous year, the business earned $3.47 EPS. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. Research analysts predict that Steel Dynamics, Inc. will post 10.22 EPS for the current year.

Steel Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.43%. The ex-dividend date of this dividend was Monday, September 30th. Steel Dynamics’s payout ratio is 16.65%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Morgan Stanley reduced their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 18th. JPMorgan Chase & Co. increased their price target on shares of Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. BMO Capital Markets lifted their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Finally, Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $144.29.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the sale, the senior vice president now directly owns 146,693 shares in the company, valued at $19,523,371.37. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 6.00% of the company’s stock.

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.