Posted by admin on Jul 1st, 2022
State of Alaska Department of Revenue trimmed its position in Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) by 2.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,536 shares of the basic materials company’s stock after selling 755 shares during the period. State of Alaska Department of Revenue’s holdings in Steel Dynamics were worth $2,213,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of STLD. Rational Advisors LLC bought a new stake in shares of Steel Dynamics in the fourth quarter valued at about $25,000. Citizens National Bank Trust Department bought a new stake in Steel Dynamics during the fourth quarter worth about $25,000. Allegheny Financial Group LTD bought a new stake in Steel Dynamics during the fourth quarter worth about $27,000. UMB Bank N A MO bought a new stake in Steel Dynamics during the fourth quarter worth about $27,000. Finally, Selective Wealth Management Inc. bought a new stake in Steel Dynamics during the fourth quarter worth about $31,000. Institutional investors own 83.19% of the company’s stock.
Several analysts recently issued reports on STLD shares. UBS Group set a $95.00 target price on Steel Dynamics in a report on Monday, June 20th. StockNews.com started coverage on Steel Dynamics in a report on Thursday, March 31st. They set a “buy” rating on the stock. The Goldman Sachs Group lowered Steel Dynamics from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $114.00 to $92.00 in a report on Tuesday, May 31st. JPMorgan Chase & Co. lowered their price target on Steel Dynamics from $129.00 to $110.00 in a research report on Tuesday, June 14th. Finally, BMO Capital Markets boosted their price target on Steel Dynamics from $95.00 to $104.00 in a research report on Friday, April 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $87.00.
In related news, Director Keith E. Busse sold 5,040 shares of the 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 owns 724,034 shares of the company’s stock, valued at $60,464,079.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.40% of the company’s stock.
Steel Dynamics stock opened at $66.15 on Friday. Steel Dynamics, Inc. has a 12 month low of $50.54 and a 12 month high of $100.37. The stock’s 50 day moving average is $78.29 and its 200-day moving average is $72.70. The company has a current ratio of 3.42, a quick ratio of 1.74 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $12.48 billion, a price-to-earnings ratio of 3.42 and a beta of 1.30.
Steel Dynamics (NASDAQ:STLD – Get Rating) last posted its earnings results 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 company had revenue of $5.57 billion for the quarter, compared to the consensus estimate of $5.35 billion. Steel Dynamics had a return on equity of 69.88% and a net margin of 19.02%. The firm’s revenue for the quarter was up 57.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.10 earnings per share. As a group, equities research analysts predict that Steel Dynamics, Inc. will post 19.84 earnings per share for the current fiscal year.
The business 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. This represents a $1.36 dividend on an annualized basis and a yield of 2.06%. The ex-dividend date of this dividend is Wednesday, June 29th. Steel Dynamics’s dividend payout ratio is currently 7.02%.
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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