Catalyst Funds Management Pty Ltd Has $346,000 Stock Position in Steel Dynamics, Inc. $STLD

Catalyst Funds Management Pty Ltd reduced its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 60.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,700 shares of the basic materials company’s stock after selling 4,140 shares during the period. Catalyst Funds Management Pty Ltd’s holdings in Steel Dynamics were worth $346,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Harbour Capital Advisors LLC grew its position in Steel Dynamics by 0.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 14,828 shares of the basic materials company’s stock worth $1,988,000 after purchasing an additional 80 shares in the last quarter. Hemington Wealth Management lifted its holdings in shares of Steel Dynamics by 35.9% in the first quarter. Hemington Wealth Management now owns 318 shares of the basic materials company’s stock valued at $39,000 after purchasing an additional 84 shares in the last quarter. Blair William & Co. IL boosted its position in shares of Steel Dynamics by 5.8% in the second quarter. Blair William & Co. IL now owns 1,813 shares of the basic materials company’s stock worth $232,000 after buying an additional 100 shares during the period. Lifeworks Advisors LLC grew its holdings in shares of Steel Dynamics by 6.6% during the second quarter. Lifeworks Advisors LLC now owns 1,719 shares of the basic materials company’s stock valued at $220,000 after buying an additional 106 shares in the last quarter. Finally, Forum Financial Management LP raised its position in Steel Dynamics by 2.5% during the second quarter. Forum Financial Management LP now owns 4,524 shares of the basic materials company’s stock valued at $579,000 after buying an additional 109 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Activity

In other news, SVP Miguel Alvarez sold 8,251 shares of the company’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the completion of the sale, the senior vice president owned 117,068 shares in the company, valued at approximately $19,057,499.72. This represents a 6.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Company insiders own 6.30% of the company’s stock.

Steel Dynamics Stock Performance

STLD stock opened at $158.16 on Friday. The firm has a 50 day moving average of $147.87 and a two-hundred day moving average of $136.44. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $164.73. The company has a market capitalization of $23.10 billion, a price-to-earnings ratio of 20.95, a P/E/G ratio of 1.39 and a beta of 1.45. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.43.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.11. The business had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. Steel Dynamics’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.05 EPS. As a group, equities analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be given a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.3%. Steel Dynamics’s payout ratio is currently 26.49%.

Analysts Set New Price Targets

A number of equities research analysts have commented on STLD shares. UBS Group set a $165.00 price objective on Steel Dynamics in a research report on Tuesday, November 4th. JPMorgan Chase & Co. increased their price target on shares of Steel Dynamics from $150.00 to $160.00 and gave the stock a “neutral” rating in a research report on Monday, October 13th. BMO Capital Markets boosted their price objective on shares of Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a research note on Wednesday. Finally, Jefferies Financial Group increased their target price on shares of Steel Dynamics from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $170.44.

Steel Dynamics 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.