Fox Run Management L.L.C. Buys Shares of 8,361 Steel Dynamics, Inc. $STLD

Fox Run Management L.L.C. purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 8,361 shares of the basic materials company’s stock, valued at approximately $1,070,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. purchased a new stake in shares of Steel Dynamics during the 1st quarter valued at approximately $25,000. Cary Street Partners Investment Advisory LLC raised its holdings in Steel Dynamics by 493.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock valued at $25,000 after acquiring an additional 163 shares during the period. Trust Co. of Toledo NA OH purchased a new stake in shares of Steel Dynamics during the second quarter worth $30,000. Zions Bancorporation National Association UT purchased a new stake in shares of Steel Dynamics during the first quarter worth $32,000. Finally, WPG Advisers LLC bought a new position in shares of Steel Dynamics in the first quarter worth $32,000. 82.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on STLD shares. UBS Group set a $165.00 price objective on Steel Dynamics in a report on Tuesday. BMO Capital Markets raised 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. Wells Fargo & Company boosted their price objective on shares of Steel Dynamics from $150.00 to $169.00 and gave the company an “overweight” rating in a research note on Wednesday, October 22nd. JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $150.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday, October 13th. Finally, KeyCorp raised their price target on shares of Steel Dynamics from $152.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Seven research 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.com, Steel Dynamics presently has a consensus rating of “Moderate Buy” and an average price target of $170.11.

Steel Dynamics Trading Down 0.6%

Shares of Steel Dynamics stock opened at $151.94 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.11 and a quick ratio of 1.34. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $164.73. The firm has a market cap of $22.19 billion, a PE ratio of 20.12, a PEG ratio of 1.39 and a beta of 1.45. The company has a 50 day simple moving average of $143.23 and a two-hundred day simple moving average of $134.69.

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

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.00 annualized dividend and a yield of 1.3%. Steel Dynamics’s payout ratio is 26.49%.

Insider Activity at Steel Dynamics

In other news, SVP Miguel Alvarez sold 8,251 shares of the 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 transaction, the senior vice president directly owned 117,068 shares in the company, valued at approximately $19,057,499.72. This represents a 6.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 6.30% 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.