Posted by admin on Jul 31st, 2022
SG Americas Securities LLC lessened its holdings in Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) by 17.3% in the first quarter, Holdings Channel reports. The firm owned 12,588 shares of the basic materials company’s stock after selling 2,626 shares during the period. SG Americas Securities LLC’s holdings in Steel Dynamics were worth $1,050,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently made changes to their positions in STLD. Rational Advisors LLC purchased a new position in shares of Steel Dynamics during the 4th quarter valued at $25,000. Citizens National Bank Trust Department purchased a new position in shares of Steel Dynamics during the 4th quarter valued at $25,000. Allegheny Financial Group LTD purchased a new stake in Steel Dynamics during the 4th quarter worth about $27,000. UMB Bank N A MO purchased a new stake in Steel Dynamics during the 4th quarter worth about $27,000. Finally, Riverview Trust Co purchased a new stake in Steel Dynamics during the 1st quarter worth about $28,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.
In related news, Director Keith E. Busse sold 5,040 shares of the firm’s 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 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 filing with the SEC, which is available through this hyperlink. 5.40% of the stock is owned by corporate insiders.
Shares of Steel Dynamics stock opened at $77.88 on Friday. The company has a current ratio of 3.52, a quick ratio of 1.87 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $14.70 billion, a PE ratio of 3.46 and a beta of 1.38. The business’s 50-day moving average price is $72.71 and its 200-day moving average price is $73.61. 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 announced its quarterly earnings data on Wednesday, July 20th. The basic materials company reported $6.73 EPS for the quarter, beating the consensus estimate of $6.34 by $0.39. The firm had revenue of $6.21 billion for the quarter, compared to analyst estimates of $5.93 billion. Steel Dynamics had a return on equity of 71.50% and a net margin of 19.81%. The company’s revenue was up 39.1% on a year-over-year basis. During the same period in the prior year, the company earned $3.40 EPS. Sell-side analysts forecast that Steel Dynamics, Inc. will post 20.22 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 15th. Stockholders of record on Thursday, June 30th were given a dividend of $0.34 per share. The ex-dividend date was Wednesday, June 29th. This represents a $1.36 annualized dividend and a dividend yield of 1.75%. Steel Dynamics’s dividend payout ratio (DPR) is presently 6.05%.
A number of analysts recently issued reports on STLD shares. UBS Group set a $95.00 price objective on Steel Dynamics in a report on Monday, June 20th. Morgan Stanley dropped their price objective on Steel Dynamics from $94.00 to $78.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 6th. BMO Capital Markets increased their price objective on Steel Dynamics from $95.00 to $104.00 in a report on Friday, April 22nd. The Goldman Sachs Group cut 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 report on Tuesday, May 31st. Finally, JPMorgan Chase & Co. lowered their price target on Steel Dynamics from $129.00 to $110.00 in a report on Tuesday, June 14th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Steel Dynamics currently has a consensus 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.
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.
Helen of Troy Limited (NASDAQ:HELE) Shares Sold by SG Americas Securities LLC
SG Americas Securities LLC Lowers Stock Holdings in Tetra Tech, Inc. (NASDAQ:TTEK)