Posted by admin on Aug 1st, 2022
abrdn plc decreased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) by 36.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,177 shares of the basic materials company’s stock after selling 18,159 shares during the period. abrdn plc’s holdings in Steel Dynamics were worth $2,753,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors have also bought and sold shares of STLD. Kestra Advisory Services LLC grew its position in shares of Steel Dynamics by 5.1% during the 4th quarter. Kestra Advisory Services LLC now owns 4,925 shares of the basic materials company’s stock worth $306,000 after buying an additional 238 shares in the last quarter. International Assets Investment Management LLC grew its position in shares of Steel Dynamics by 6.0% during the 4th quarter. International Assets Investment Management LLC now owns 15,938 shares of the basic materials company’s stock worth $74,000 after buying an additional 900 shares in the last quarter. National Bank of Canada FI bought a new position in shares of Steel Dynamics during the 4th quarter worth $397,000. Allspring Global Investments Holdings LLC bought a new position in shares of Steel Dynamics during the 4th quarter worth $43,651,000. Finally, Commonwealth Equity Services LLC grew its position in shares of Steel Dynamics by 3.5% during the 4th quarter. Commonwealth Equity Services LLC now owns 72,764 shares of the basic materials company’s stock worth $4,516,000 after buying an additional 2,432 shares in the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s stock.
Shares of NASDAQ STLD opened at $77.88 on Monday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.87 and a current ratio of 3.52. The company has a market cap of $14.70 billion, a PE ratio of 3.46 and a beta of 1.38. The business has a 50-day simple moving average of $72.71 and a two-hundred day simple moving average of $73.68. Steel Dynamics, Inc. has a fifty-two week low of $50.54 and a fifty-two week high of $100.37.
Steel Dynamics (NASDAQ:STLD – Get Rating) last announced its quarterly earnings data on Wednesday, July 20th. The basic materials company reported $6.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.34 by $0.39. Steel Dynamics had a return on equity of 71.50% and a net margin of 19.81%. The firm had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same period last year, the business posted $3.40 earnings per share. The company’s revenue for the quarter was up 39.1% compared to the same quarter last year. As a group, equities analysts expect that Steel Dynamics, Inc. will post 20.22 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were paid a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 1.75%. The ex-dividend date of this dividend was Wednesday, June 29th. Steel Dynamics’s payout ratio is 6.05%.
STLD has been the topic of a number of recent research reports. JPMorgan Chase & Co. dropped their price objective on Steel Dynamics from $129.00 to $110.00 in a research report on Tuesday, June 14th. UBS Group set a $95.00 price objective on Steel Dynamics in a research report on Monday, June 20th. The Goldman Sachs Group downgraded Steel Dynamics from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $114.00 to $92.00 in a research report on Tuesday, May 31st. Morgan Stanley dropped their price objective on Steel Dynamics from $94.00 to $78.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 6th. Finally, BMO Capital Markets raised their price objective on Steel Dynamics from $95.00 to $104.00 in a research report on Friday, April 22nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $89.00.
In other news, Director Keith E. Busse sold 5,040 shares of the firm’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $83.51, for a total value of $420,890.40. Following the completion of the transaction, the director now directly owns 724,034 shares in the company, valued at $60,464,079.34. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 5.40% of the company’s stock.
Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.
Want to see what other hedge funds are holding STLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating).
Receive News & Ratings for Steel Dynamics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Steel Dynamics and related companies with MarketBeat.com's FREE daily email newsletter.
National Retail Properties, Inc. (NYSE:NNN) Position Increased by abrdn plc
Globe Life Inc. (NYSE:GL) Shares Sold by abrdn plc