Toroso Investments LLC decreased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD – Free Report) by 25.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 20,634 shares of the basic materials company’s stock after selling 7,217 shares during the period. Toroso Investments LLC’s holdings in Steel Dynamics were worth $2,333,000 as of its most recent filing with the SEC.
Other hedge funds have also recently added to or reduced their stakes in the company. CENTRAL TRUST Co boosted its stake in Steel Dynamics by 569.7% during the 1st quarter. CENTRAL TRUST Co now owns 221 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 188 shares during the period. Massmutual Trust Co. FSB ADV boosted its stake in Steel Dynamics by 82.0% during the 1st quarter. Massmutual Trust Co. FSB ADV now owns 233 shares of the basic materials company’s stock valued at $26,000 after purchasing an additional 105 shares during the period. Hanseatic Management Services Inc. bought a new stake in Steel Dynamics during the 1st quarter valued at approximately $27,000. Wellington Shields & Co. LLC lifted its position in shares of Steel Dynamics by 50.0% in the 4th quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 100 shares during the period. Finally, Financial Management Professionals Inc. lifted its position in shares of Steel Dynamics by 1,953.8% in the 1st quarter. Financial Management Professionals Inc. now owns 267 shares of the basic materials company’s stock worth $30,000 after acquiring an additional 254 shares during the period. Institutional investors own 81.32% of the company’s stock.
Analysts Set New Price Targets
A number of analysts have commented on STLD shares. BMO Capital Markets reduced their price objective on Steel Dynamics from $120.00 to $115.00 in a research report on Monday, June 19th. StockNews.com started coverage on Steel Dynamics in a research report on Thursday, August 17th. They issued a “hold” rating for the company. JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $94.00 to $95.00 and gave the stock an “underweight” rating in a research report on Friday, September 8th. Morgan Stanley raised their price objective on Steel Dynamics from $97.00 to $99.00 and gave the stock an “equal weight” rating in a research report on Monday, July 24th. Finally, BNP Paribas downgraded Steel Dynamics from an “outperform” rating to a “neutral” rating and set a $102.00 price objective for the company. in a research report on Wednesday, July 5th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $108.38.
Insider Activity at Steel Dynamics
In related news, Director Gabriel Shaheen sold 1,717 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $105.80, for a total transaction of $181,658.60. Following the completion of the sale, the director now directly owns 83,074 shares of the company’s stock, valued at approximately $8,789,229.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Gabriel Shaheen sold 1,717 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $105.80, for a total transaction of $181,658.60. Following the completion of the sale, the director now directly owns 83,074 shares of the company’s stock, valued at approximately $8,789,229.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Christopher A. Graham sold 48,000 shares of the firm’s stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $105.03, for a total value of $5,041,440.00. Following the sale, the senior vice president now directly owns 61,353 shares of the company’s stock, valued at $6,443,905.59. The disclosure for this sale can be found here. Insiders own 6.00% of the company’s stock.
Steel Dynamics Price Performance
Steel Dynamics stock opened at $98.71 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.20 and a quick ratio of 2.47. The company has a market capitalization of $16.35 billion, a PE ratio of 5.76 and a beta of 1.51. Steel Dynamics, Inc. has a one year low of $69.12 and a one year high of $136.46. The business has a 50 day simple moving average of $104.33 and a 200 day simple moving average of $105.36.
Steel Dynamics (NASDAQ:STLD – Get Free Report) last released its quarterly earnings results on Thursday, July 20th. The basic materials company reported $4.81 earnings per share for the quarter, missing analysts’ consensus estimates of $4.82 by ($0.01). Steel Dynamics had a net margin of 14.66% and a return on equity of 40.44%. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.51 billion. During the same period in the prior year, the business earned $6.73 earnings per share. The company’s revenue for the quarter was down 18.2% on a year-over-year basis. On average, sell-side analysts forecast that Steel Dynamics, Inc. will post 15.65 EPS for the current fiscal year.
Steel Dynamics Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Investors of record on Saturday, September 30th will be issued a dividend of $0.425 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a yield of 1.72%. Steel Dynamics’s dividend payout ratio is 9.91%.
About Steel Dynamics
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 rolled, cold rolled, 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; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.
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