Posted by admin on Aug 17th, 2022
Commerce Bank lessened its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) by 6.4% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 5,934 shares of the basic materials company’s stock after selling 407 shares during the period. Commerce Bank’s holdings in Steel Dynamics were worth $495,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Allworth Financial LP grew its holdings in shares of Steel Dynamics by 7,542.9% during the first quarter. Allworth Financial LP now owns 535 shares of the basic materials company’s stock worth $45,000 after purchasing an additional 528 shares during the last quarter. CWM LLC grew its holdings in shares of Steel Dynamics by 82.7% during the first quarter. CWM LLC now owns 1,928 shares of the basic materials company’s stock worth $161,000 after purchasing an additional 873 shares during the last quarter. Riverview Trust Co bought a new stake in shares of Steel Dynamics during the first quarter worth $28,000. New York State Teachers Retirement System grew its holdings in shares of Steel Dynamics by 2.2% during the first quarter. New York State Teachers Retirement System now owns 287,503 shares of the basic materials company’s stock worth $23,986,000 after purchasing an additional 6,227 shares during the last quarter. Finally, AlphaCrest Capital Management LLC grew its holdings in shares of Steel Dynamics by 6.9% during the fourth quarter. AlphaCrest Capital Management LLC now owns 75,179 shares of the basic materials company’s stock worth $4,666,000 after purchasing an additional 4,863 shares during the last quarter. Institutional investors own 83.19% of the company’s stock.
Several research firms recently issued reports on STLD. Morgan Stanley decreased their price target on Steel Dynamics from $94.00 to $78.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 6th. The Goldman Sachs Group cut Steel Dynamics from a “buy” rating to a “neutral” rating and decreased their price target for the company from $114.00 to $92.00 in a report on Tuesday, May 31st. JPMorgan Chase & Co. decreased their price target on Steel Dynamics from $129.00 to $110.00 in a report on Tuesday, June 14th. BMO Capital Markets raised their price target on Steel Dynamics from $95.00 to $104.00 in a report on Friday, April 22nd. Finally, UBS Group set a $95.00 price target on Steel Dynamics in a report on Monday, June 20th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $89.00.
Shares of STLD opened at $84.65 on Wednesday. The company has a current ratio of 3.52, a quick ratio of 1.87 and a debt-to-equity ratio of 0.41. Steel Dynamics, Inc. has a 1 year low of $50.54 and a 1 year high of $100.37. The stock has a market cap of $15.46 billion, a P/E ratio of 3.76 and a beta of 1.41. The stock’s 50-day moving average price is $71.98 and its two-hundred day moving average price is $75.63.
Steel Dynamics (NASDAQ:STLD – Get Rating) last issued its earnings results on Wednesday, July 20th. The basic materials company reported $6.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter last year, the business earned $3.40 earnings per share. The company’s revenue was up 39.1% compared to the same quarter last year. On average, equities analysts predict that Steel Dynamics, Inc. will post 21.07 earnings per share for the current year.
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 transaction of $420,890.40. Following the sale, the director now owns 724,034 shares of the company’s stock, valued at $60,464,079.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 5.40% of the stock is currently owned by insiders.
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.
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