Atria Wealth Solutions Inc. acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 3,792 shares of the basic materials company’s stock, valued at approximately $430,000.
Other large investors also recently made changes to their positions in the company. CENTRAL TRUST Co lifted its holdings 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 last quarter. Massmutual Trust Co. FSB ADV lifted its holdings 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 last quarter. Hanseatic Management Services Inc. acquired a new stake in Steel Dynamics during the 1st quarter valued at $27,000. Wellington Shields & Co. LLC lifted its holdings in Steel Dynamics by 50.0% during the 4th quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 100 shares during the last quarter. Finally, Financial Management Professionals Inc. lifted its holdings in Steel Dynamics by 1,953.8% during the 1st quarter. Financial Management Professionals Inc. now owns 267 shares of the basic materials company’s stock valued at $30,000 after purchasing an additional 254 shares during the last quarter. Institutional investors and hedge funds own 81.32% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms have recently weighed in on STLD. BMO Capital Markets dropped their target price on Steel Dynamics from $120.00 to $115.00 in a report on Monday, June 19th. JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $94.00 to $95.00 and gave the stock an “underweight” rating in a report on Friday, September 8th. Morgan Stanley lifted their target price on Steel Dynamics from $97.00 to $99.00 and gave the stock an “equal weight” rating in a report on Monday, July 24th. StockNews.com began coverage on Steel Dynamics in a report on Thursday, August 17th. They set a “hold” rating for the company. Finally, BNP Paribas downgraded Steel Dynamics from an “outperform” rating to a “neutral” rating and set a $102.00 target price for the company. in a report on Wednesday, July 5th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $108.38.
Steel Dynamics Stock Down 3.7 %
Shares of NASDAQ STLD opened at $98.71 on Monday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.47 and a current ratio of 4.20. Steel Dynamics, Inc. has a 52 week low of $69.12 and a 52 week high of $136.46. The stock has a market capitalization of $16.35 billion, a P/E ratio of 5.76 and a beta of 1.51. The stock’s fifty day moving average is $104.33 and its 200 day moving average is $105.05.
Steel Dynamics (NASDAQ:STLD – Get Free Report) last issued its quarterly earnings results on Thursday, July 20th. The basic materials company reported $4.81 EPS for the quarter, missing analysts’ consensus estimates of $4.82 by ($0.01). Steel Dynamics had a return on equity of 40.44% and a net margin of 14.66%. The company had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $5.51 billion. During the same quarter in the previous year, the business posted $6.73 EPS. The firm’s revenue for the quarter was down 18.2% on a year-over-year basis. Sell-side analysts forecast that Steel Dynamics, Inc. will post 15.65 earnings per share for the current fiscal year.
Steel Dynamics Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be given a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date is Thursday, September 28th. Steel Dynamics’s dividend payout ratio is presently 9.91%.
Insider Buying and Selling at Steel Dynamics
In other Steel Dynamics news, Director Gabriel Shaheen sold 1,717 shares of Steel Dynamics stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $105.80, for a total value of $181,658.60. Following the transaction, the director now owns 83,074 shares in the company, valued at $8,789,229.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Steel Dynamics news, Director Gabriel Shaheen sold 1,717 shares of Steel Dynamics stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $105.80, for a total value of $181,658.60. Following the transaction, the director now owns 83,074 shares in the company, valued at $8,789,229.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Christopher A. Graham sold 48,000 shares of the business’s stock in a transaction dated Tuesday, August 15th. The stock was 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 owns 61,353 shares in the company, valued at $6,443,905.59. The disclosure for this sale can be found here. Company insiders own 6.00% of the company’s stock.
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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