Posted by admin on Jun 30th, 2022
IFM Investors Pty Ltd boosted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) by 10.9% in the first quarter, HoldingsChannel reports. The institutional investor owned 37,205 shares of the basic materials company’s stock after purchasing an additional 3,670 shares during the period. IFM Investors Pty Ltd’s holdings in Steel Dynamics were worth $3,104,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently made changes to their positions in STLD. LPL Financial LLC lifted its holdings in Steel Dynamics by 62.2% during the 3rd quarter. LPL Financial LLC now owns 62,358 shares of the basic materials company’s stock valued at $3,647,000 after buying an additional 23,918 shares in the last quarter. Cetera Advisors LLC raised its holdings in shares of Steel Dynamics by 10.8% in the 3rd quarter. Cetera Advisors LLC now owns 4,254 shares of the basic materials company’s stock valued at $249,000 after purchasing an additional 413 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in shares of Steel Dynamics by 2.9% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 1,005,163 shares of the basic materials company’s stock valued at $58,782,000 after purchasing an additional 28,419 shares in the last quarter. Patriot Financial Group Insurance Agency LLC bought a new stake in shares of Steel Dynamics in the 4th quarter valued at about $208,000. Finally, Crossmark Global Holdings Inc. raised its holdings in shares of Steel Dynamics by 4.8% in the 4th quarter. Crossmark Global Holdings Inc. now owns 18,620 shares of the basic materials company’s stock valued at $1,156,000 after purchasing an additional 860 shares in the last quarter. Institutional investors own 83.19% of the company’s stock.
STLD stock opened at $66.83 on Thursday. The firm’s fifty day simple moving average is $78.83 and its 200-day simple moving average is $72.66. The company has a market capitalization of $12.61 billion, a P/E ratio of 3.45 and a beta of 1.30. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.42 and a quick ratio of 1.74. Steel Dynamics, Inc. has a 12 month low of $50.54 and a 12 month high of $100.37.
Steel Dynamics (NASDAQ:STLD – Get Rating) last released its quarterly earnings data on Wednesday, April 20th. The basic materials company reported $6.02 EPS for the quarter, beating the consensus estimate of $5.58 by $0.44. The business had revenue of $5.57 billion for 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%. The business’s revenue for the quarter was up 57.1% on a year-over-year basis. During the same period in the prior year, the firm earned $2.10 EPS. As a group, sell-side analysts forecast that Steel Dynamics, Inc. will post 19.84 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be issued a $0.34 dividend. This represents a $1.36 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Wednesday, June 29th. Steel Dynamics’s dividend payout ratio (DPR) is currently 7.02%.
In related news, Director Keith E. Busse sold 5,040 shares of the business’s stock in a transaction on 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 transaction, the director now directly owns 724,034 shares in the company, valued at approximately $60,464,079.34. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 5.40% of the stock is owned by corporate insiders.
Several equities research analysts have recently commented on the stock. BMO Capital Markets boosted their price target 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 report on Tuesday, June 14th. StockNews.com started coverage on shares of Steel Dynamics in a report on Thursday, March 31st. They issued a “buy” rating for the company. UBS Group set a $95.00 price objective on shares of Steel Dynamics in a research note on Monday, June 20th. Finally, The Goldman Sachs Group lowered shares of Steel Dynamics from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $114.00 to $92.00 in a research note on Tuesday, May 31st. One analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $87.00.
Steel Dynamics 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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