Posted by admin on Aug 11th, 2022

National Bank of Canada FI cut its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) by 59.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,576 shares of the basic materials company’s stock after selling 3,822 shares during the quarter. National Bank of Canada FI’s holdings in Steel Dynamics were worth $215,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of STLD. International Assets Investment Management LLC raised its position in Steel Dynamics by 6.0% in the fourth quarter. International Assets Investment Management LLC now owns 15,938 shares of the basic materials company’s stock worth $74,000 after acquiring an additional 900 shares in the last quarter. CWM LLC purchased a new position in Steel Dynamics in the fourth quarter worth $65,000. Assenagon Asset Management S.A. raised its position in Steel Dynamics by 4.3% in the fourth quarter. Assenagon Asset Management S.A. now owns 27,760 shares of the basic materials company’s stock worth $1,723,000 after acquiring an additional 1,144 shares in the last quarter. DekaBank Deutsche Girozentrale raised its position in Steel Dynamics by 20.6% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 88,042 shares of the basic materials company’s stock worth $5,494,000 after acquiring an additional 15,044 shares in the last quarter. Finally, Banque Pictet & Cie SA purchased a new position in Steel Dynamics in the fourth quarter worth $685,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.

Steel Dynamics stock opened at $83.01 on Thursday. The stock has a market cap of $15.16 billion, a PE ratio of 3.69 and a beta of 1.41. The stock has a 50-day moving average price of $71.98 and a 200 day moving average price of $74.65. Steel Dynamics, Inc. has a 52 week low of $50.54 and a 52 week high of $100.37. 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 (NASDAQ:STLD – Get Rating) last posted its quarterly earnings data on Wednesday, July 20th. The basic materials company reported $6.73 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 during the quarter, compared to analysts’ expectations of $5.93 billion. During the same quarter last year, the business posted $3.40 EPS. The firm’s quarterly revenue was up 39.1% compared to the same quarter last year. Equities research analysts predict that Steel Dynamics, Inc. will post 21.07 earnings per share for the current fiscal year.

In other Steel Dynamics 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 sale, the director now directly owns 724,034 shares of the company’s stock, valued at approximately $60,464,079.34. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 5.40% of the stock is owned by corporate insiders.

Several research firms have issued reports on STLD. UBS Group set a $95.00 price objective on Steel Dynamics in a research report on Monday, June 20th. The Goldman Sachs Group cut Steel Dynamics from a “buy” rating to a “neutral” rating and dropped their price target for the company from $114.00 to $92.00 in a research report on Tuesday, May 31st. Morgan Stanley dropped their price target on Steel Dynamics from $94.00 to $78.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 6th. BMO Capital Markets raised their price target on Steel Dynamics from $95.00 to $104.00 in a research report on Friday, April 22nd. Finally, JPMorgan Chase & Co. dropped their price target on Steel Dynamics from $129.00 to $110.00 in a research report on Tuesday, June 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $89.00.

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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