Posted by admin on Jun 29th, 2022
AdvisorNet Financial Inc raised its holdings in Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) by 15.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 5,075 shares of the basic materials company’s stock after buying an additional 682 shares during the period. AdvisorNet Financial Inc’s holdings in Steel Dynamics were worth $423,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Rational Advisors LLC acquired a new stake in Steel Dynamics in the 4th quarter valued at $25,000. Citizens National Bank Trust Department acquired a new stake in Steel Dynamics in the 4th quarter valued at $25,000. Allegheny Financial Group LTD acquired a new stake in Steel Dynamics in the 4th quarter valued at $27,000. UMB Bank N A MO acquired a new stake in Steel Dynamics in the 4th quarter valued at $27,000. Finally, Selective Wealth Management Inc. acquired a new stake in Steel Dynamics in the 4th quarter valued at $31,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.
Shares of STLD stock opened at $67.36 on Wednesday. The company has a market capitalization of $12.71 billion, a price-to-earnings ratio of 3.48 and a beta of 1.30. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.74 and a current ratio of 3.42. The company has a 50-day simple moving average of $79.33 and a 200 day simple moving average of $72.70. Steel Dynamics, Inc. has a 52 week low of $50.54 and a 52 week high of $100.37.
Steel Dynamics (NASDAQ:STLD – Get Rating) last announced its earnings results on Wednesday, April 20th. The basic materials company reported $6.02 EPS for the quarter, topping the consensus estimate of $5.58 by $0.44. The business had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.35 billion. Steel Dynamics had a net margin of 19.02% and a return on equity of 69.88%. Steel Dynamics’s revenue was up 57.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.10 EPS. Sell-side analysts forecast that Steel Dynamics, Inc. will post 19.84 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Shareholders of record on Thursday, June 30th will be issued a $0.34 dividend. This represents a $1.36 dividend on an annualized basis and a yield of 2.02%. The ex-dividend date is Wednesday, June 29th. Steel Dynamics’s dividend payout ratio is currently 7.02%.
STLD has been the topic of several recent analyst reports. BMO Capital Markets boosted their price objective on shares of Steel Dynamics from $95.00 to $104.00 in a research note on Friday, April 22nd. JPMorgan Chase & Co. lowered their price objective on shares of Steel Dynamics from $129.00 to $110.00 in a research note on Tuesday, June 14th. The Goldman Sachs Group lowered shares of Steel Dynamics from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $114.00 to $92.00 in a research note on Tuesday, May 31st. UBS Group set a $95.00 price objective on shares of Steel Dynamics in a research note on Monday, June 20th. Finally, StockNews.com initiated coverage on shares of Steel Dynamics in a research note on Thursday, March 31st. They set a “buy” rating on the stock. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $87.00.
In other Steel Dynamics news, Director Keith E. Busse sold 5,040 shares of the business’s stock in a transaction dated Friday, June 3rd. The shares were sold at an average price of $83.51, for a total value of $420,890.40. Following the completion of the sale, the director now owns 724,034 shares of the company’s stock, valued at approximately $60,464,079.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 5.40% of the company’s stock.
Steel Dynamics Company Profile (Get Rating)
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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