Posted by admin on Jun 23rd, 2022
CHICAGO TRUST Co NA trimmed its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) by 34.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,297 shares of the basic materials company’s stock after selling 2,247 shares during the quarter. CHICAGO TRUST Co NA’s holdings in Steel Dynamics were worth $358,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds also recently bought and sold shares of the company. Rational Advisors LLC bought a new position in Steel Dynamics during the 4th quarter worth approximately $25,000. Citizens National Bank Trust Department bought a new position in Steel Dynamics during the 4th quarter worth approximately $25,000. Allegheny Financial Group LTD bought a new position in Steel Dynamics during the 4th quarter worth approximately $27,000. UMB Bank N A MO bought a new position in Steel Dynamics during the 4th quarter worth approximately $27,000. Finally, Selective Wealth Management Inc. bought a new position in Steel Dynamics during the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 83.19% of the company’s stock.
Several equities analysts recently issued reports on the company. JPMorgan Chase & Co. reduced their price target on Steel Dynamics from $129.00 to $110.00 in a research report on Tuesday, June 14th. The Goldman Sachs Group lowered Steel Dynamics from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $114.00 to $92.00 in a research report on Tuesday, May 31st. StockNews.com assumed coverage on Steel Dynamics in a research report on Thursday, March 31st. They issued a “buy” rating on the stock. UBS Group set a $95.00 price objective on Steel Dynamics in a research report on Monday. Finally, BMO Capital Markets lifted their price objective on Steel Dynamics from $95.00 to $104.00 in a research report on Friday, April 22nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, Steel Dynamics currently has a consensus rating of “Hold” and a consensus target price of $87.00.
In related news, Director Keith E. Busse sold 5,040 shares of Steel Dynamics stock in a transaction that occurred on 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 directly owns 724,034 shares in the company, valued at $60,464,079.34. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 5.40% of the company’s stock.
NASDAQ STLD opened at $67.40 on Thursday. The company has a quick ratio of 1.74, a current ratio of 3.42 and a debt-to-equity ratio of 0.45. Steel Dynamics, Inc. has a twelve month low of $50.54 and a twelve month high of $100.37. The firm has a market capitalization of $12.72 billion, a PE ratio of 3.48 and a beta of 1.30. The stock’s 50 day moving average is $81.08 and its 200 day moving average is $72.42.
Steel Dynamics (NASDAQ:STLD – Get Rating) last released its quarterly earnings results on Wednesday, April 20th. The basic materials company reported $6.02 earnings per share for the quarter, beating the consensus estimate of $5.58 by $0.44. Steel Dynamics had a return on equity of 69.88% and a net margin of 19.02%. The company had revenue of $5.57 billion for the quarter, compared to analyst estimates of $5.35 billion. During the same period in the previous year, the company posted $2.10 earnings per share. The firm’s revenue was up 57.1% on a year-over-year basis. On average, research analysts anticipate that Steel Dynamics, Inc. will post 19.84 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 15th. Investors of record on Thursday, June 30th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $1.36 annualized dividend and a dividend yield of 2.02%. Steel Dynamics’s dividend payout ratio is presently 7.02%.
Steel Dynamics announced that its board has authorized a stock buyback plan on Monday, February 28th that permits the company to buyback $1.25 billion in outstanding shares. This buyback authorization permits the basic materials company to purchase up to 8.9% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.
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.
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.
Heartland Bank & Trust Co Purchases Shares of 2,173 Extra Space Storage Inc. (NYSE:EXR)
NuWave Investment Management LLC Trims Holdings in Garmin Ltd. (NYSE:GRMN)