Tectonic Advisors LLC Invests $586,000 in Steel Dynamics, Inc. $STLD

Tectonic Advisors LLC acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,204 shares of the basic materials company’s stock, valued at approximately $586,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new position in Steel Dynamics during the second quarter valued at approximately $339,769,000. Nordea Investment Management AB raised its stake in shares of Steel Dynamics by 43.3% in the 2nd quarter. Nordea Investment Management AB now owns 2,088,372 shares of the basic materials company’s stock valued at $271,238,000 after acquiring an additional 630,935 shares during the period. Robeco Institutional Asset Management B.V. lifted its holdings in shares of Steel Dynamics by 40.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,675,973 shares of the basic materials company’s stock valued at $214,541,000 after acquiring an additional 484,304 shares in the last quarter. Qube Research & Technologies Ltd purchased a new stake in Steel Dynamics during the 2nd quarter worth $48,746,000. Finally, AQR Capital Management LLC increased its holdings in Steel Dynamics by 79.1% in the 2nd quarter. AQR Capital Management LLC now owns 627,542 shares of the basic materials company’s stock valued at $80,332,000 after purchasing an additional 277,166 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on STLD. The Goldman Sachs Group set a $172.00 price objective on Steel Dynamics and gave the stock a “neutral” rating in a research note on Friday, October 31st. Citigroup boosted their price target on Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Weiss Ratings restated a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday. Morgan Stanley lifted their price objective on shares of Steel Dynamics from $145.00 to $173.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. Finally, Jefferies Financial Group boosted their target price on shares of Steel Dynamics from $180.00 to $190.00 and gave the stock a “buy” rating in a research report on Wednesday, December 10th. Six investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Steel Dynamics presently has a consensus rating of “Moderate Buy” and an average price target of $176.89.

Insiders Place Their Bets

In other news, SVP Miguel Alvarez sold 8,251 shares of the business’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total value of $1,343,180.29. Following the completion of the sale, the senior vice president owned 117,068 shares of the company’s stock, valued at approximately $19,057,499.72. The trade was a 6.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 6.30% of the stock is currently owned by corporate insiders.

Steel Dynamics Price Performance

STLD stock opened at $176.06 on Friday. The company has a quick ratio of 1.47, a current ratio of 3.11 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $178.36. The stock’s 50 day moving average is $164.49 and its two-hundred day moving average is $144.49. The company has a market capitalization of $25.71 billion, a PE ratio of 23.32, a P/E/G ratio of 0.70 and a beta of 1.48.

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

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, December 31st. Steel Dynamics’s dividend payout ratio is 26.49%.

Steel Dynamics Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.