Posted by admin on Aug 18th, 2022
Boston Partners trimmed its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) by 52.8% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,676 shares of the basic materials company’s stock after selling 2,996 shares during the quarter. Boston Partners’ holdings in Steel Dynamics were worth $223,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in shares of Steel Dynamics by 6.0% during the fourth quarter. International Assets Investment Management LLC now owns 15,938 shares of the basic materials company’s stock valued at $74,000 after buying an additional 900 shares during the last quarter. CWM LLC purchased a new position in shares of Steel Dynamics in the fourth quarter valued at about $65,000. Advisor Group Holdings Inc. raised its stake in shares of Steel Dynamics by 14.6% during the fourth quarter. Advisor Group Holdings Inc. now owns 32,664 shares of the basic materials company’s stock valued at $2,026,000 after acquiring an additional 4,169 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of Steel Dynamics by 4.1% during the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 55,278 shares of the basic materials company’s stock worth $3,431,000 after purchasing an additional 2,191 shares during the period. Finally, IndexIQ Advisors LLC boosted its holdings in shares of Steel Dynamics by 39.9% during the fourth quarter. IndexIQ Advisors LLC now owns 1,437 shares of the basic materials company’s stock worth $89,000 after purchasing an additional 410 shares during the period. 83.19% of the stock is owned by hedge funds and other institutional investors.
In related news, Director Keith E. Busse sold 5,040 shares of the company’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 transaction, the director now owns 724,034 shares in the company, valued at approximately $60,464,079.34. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 5.40% of the company’s stock.
A number of research analysts have commented on the company. The Goldman Sachs Group lowered Steel Dynamics from a “buy” rating to a “neutral” rating and lowered their price target for the company from $114.00 to $92.00 in a research report on Tuesday, May 31st. Morgan Stanley reduced their price objective on shares of 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. BMO Capital Markets upped their price objective on shares of Steel Dynamics from $95.00 to $104.00 in a report on Friday, April 22nd. JPMorgan Chase & Co. reduced their price target on shares of Steel Dynamics from $129.00 to $110.00 in a research report on Tuesday, June 14th. Finally, UBS Group set a $95.00 target price on Steel Dynamics in a report on Monday, June 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $89.00.
Shares of STLD opened at $83.04 on Thursday. Steel Dynamics, Inc. has a fifty-two week low of $50.54 and a fifty-two week high of $100.37. The firm’s 50-day simple moving average is $72.01 and its two-hundred day simple moving average is $75.68. The stock has a market cap of $15.16 billion, a PE ratio of 3.69 and a beta of 1.41. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.87 and a current ratio of 3.52.
Steel Dynamics (NASDAQ:STLD – Get Rating) last posted its quarterly earnings results on Wednesday, July 20th. The basic materials company reported $6.73 earnings per share for the quarter, topping the consensus estimate of $6.34 by $0.39. The company had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $5.93 billion. Steel Dynamics had a return on equity of 71.50% and a net margin of 19.81%. The firm’s quarterly revenue was up 39.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.40 EPS. Analysts anticipate that Steel Dynamics, Inc. will post 21.07 earnings per share for the current fiscal year.
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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