Pacer Advisors Inc. Has $2.12 Million Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Pacer Advisors Inc. increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 74.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,570 shares of the basic materials company’s stock after acquiring an additional 7,928 shares during the quarter. Pacer Advisors Inc.’s holdings in Steel Dynamics were worth $2,118,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Holocene Advisors LP lifted its holdings in shares of Steel Dynamics by 85.8% in the third quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock valued at $289,400,000 after purchasing an additional 1,060,007 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Steel Dynamics by 6.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company’s stock valued at $194,933,000 after buying an additional 96,122 shares during the period. Nordea Investment Management AB lifted its stake in Steel Dynamics by 22.4% in the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after acquiring an additional 253,802 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in Steel Dynamics by 116.5% during the 3rd quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company’s stock worth $128,434,000 after acquiring an additional 548,086 shares during the period. Finally, Barclays PLC grew its stake in Steel Dynamics by 21.8% during the 3rd quarter. Barclays PLC now owns 448,942 shares of the basic materials company’s stock valued at $56,603,000 after acquiring an additional 80,262 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Activity

In related news, SVP Miguel Alvarez sold 6,650 shares of the stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the sale, the senior vice president now owns 116,949 shares in the company, valued at $16,723,707. This represents a 5.38 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Richard A. Poinsatte sold 2,000 shares of Steel Dynamics stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $138.75, for a total value of $277,500.00. Following the completion of the transaction, the senior vice president now directly owns 21,101 shares in the company, valued at approximately $2,927,763.75. This represents a 8.66 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by company insiders.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $128.20 on Friday. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. The stock has a market capitalization of $19.52 billion, a P/E ratio of 13.08 and a beta of 1.36. The business has a 50-day moving average of $125.73 and a two-hundred day moving average of $126.33. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same period in the prior year, the firm posted $2.61 EPS. On average, equities research analysts predict that Steel Dynamics, Inc. will post 8.9 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date was Tuesday, December 31st. Steel Dynamics’s dividend payout ratio is 18.78%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on STLD shares. UBS Group reissued a “neutral” rating and issued a $149.00 price target (up from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. StockNews.com lowered shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Thursday, January 23rd. BMO Capital Markets boosted their price target on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. JPMorgan Chase & Co. cut their price objective on Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a report on Friday, January 17th. Finally, The Goldman Sachs Group started coverage on Steel Dynamics in a research report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $143.38.

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.