Fidelis Capital Partners LLC Has $369,000 Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

31 Oct 2024, 07:10 by Scott Moore · The Cerbat Gem

Fidelis Capital Partners LLC lowered its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD – Free Report) by 3.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,865 shares of the basic materials company’s stock after selling 111 shares during the quarter. Fidelis Capital Partners LLC’s holdings in Steel Dynamics were worth $369,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Nordea Investment Management AB increased its position in shares of Steel Dynamics by 2.5% during the 1st quarter. Nordea Investment Management AB now owns 1,034,133 shares of the basic materials company’s stock worth $153,290,000 after purchasing an additional 25,280 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Steel Dynamics by 1,498.4% during the 1st quarter. SG Americas Securities LLC now owns 29,730 shares of the basic materials company’s stock worth $4,407,000 after purchasing an additional 27,870 shares in the last quarter. Trustmark National Bank Trust Department increased its position in shares of Steel Dynamics by 126.6% during the 1st quarter. Trustmark National Bank Trust Department now owns 7,134 shares of the basic materials company’s stock worth $1,057,000 after purchasing an additional 3,986 shares in the last quarter. Bessemer Group Inc. increased its position in shares of Steel Dynamics by 2,679.3% during the 1st quarter. Bessemer Group Inc. now owns 10,867 shares of the basic materials company’s stock worth $1,611,000 after purchasing an additional 10,476 shares in the last quarter. Finally, LBP AM SA increased its position in shares of Steel Dynamics by 26.5% during the 1st quarter. LBP AM SA now owns 21,966 shares of the basic materials company’s stock worth $3,256,000 after purchasing an additional 4,599 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Activity

In other news, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction that occurred on Monday, October 21st. The shares were sold at an average price of $133.09, for a total value 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 trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Chad Bickford sold 2,000 shares of the firm’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the transaction, the vice president now directly owns 17,100 shares of the company’s stock, valued at approximately $2,306,106. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Glenn Pushis sold 17,941 shares of the firm’s stock in a transaction 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 completion of the transaction, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at $19,523,371.37. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.10% of the stock is owned by corporate insiders.

Steel Dynamics Stock Performance

Shares of NASDAQ:STLD opened at $132.77 on Thursday. The company has a market capitalization of $20.49 billion, a price-to-earnings ratio of 12.02 and a beta of 1.31. The firm’s 50 day simple moving average is $123.25 and its 200 day simple moving average is $126.61. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. Steel Dynamics, Inc. has a fifty-two week low of $104.08 and a fifty-two week high of $151.34.

Steel Dynamics (NASDAQ:STLD – Get Free Report) last announced its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.98 by $0.07. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business’s quarterly revenue was down 5.4% on a year-over-year basis. During the same period last year, the company posted $3.47 EPS. As a group, sell-side analysts forecast that Steel Dynamics, Inc. will post 10.22 earnings per share 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 issued a $0.46 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.39%. Steel Dynamics’s dividend payout ratio (DPR) is presently 16.65%.

Wall Street Analyst Weigh In

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

Read Our Latest Stock Analysis on STLD

About Steel Dynamics

(Free Report)

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.