Steel Dynamics, Inc. (NASDAQ:STLD) Shares Acquired by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLDFree Report) by 230.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 23,536 shares of the basic materials company’s stock after buying an additional 16,403 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Steel Dynamics were worth $2,780,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. EverSource Wealth Advisors LLC raised its stake in shares of Steel Dynamics by 9.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the basic materials company’s stock worth $126,000 after buying an additional 88 shares during the last quarter. Signaturefd LLC raised its stake in shares of Steel Dynamics by 0.9% during the 4th quarter. Signaturefd LLC now owns 10,698 shares of the basic materials company’s stock worth $1,263,000 after buying an additional 93 shares during the last quarter. Global Retirement Partners LLC raised its stake in shares of Steel Dynamics by 25.8% during the 4th quarter. Global Retirement Partners LLC now owns 478 shares of the basic materials company’s stock worth $53,000 after buying an additional 98 shares during the last quarter. Allworth Financial LP raised its stake in shares of Steel Dynamics by 2.2% during the 4th quarter. Allworth Financial LP now owns 4,853 shares of the basic materials company’s stock worth $573,000 after buying an additional 103 shares during the last quarter. Finally, Greenfield Savings Bank raised its stake in shares of Steel Dynamics by 0.9% during the 4th quarter. Greenfield Savings Bank now owns 11,591 shares of the basic materials company’s stock worth $1,369,000 after buying an additional 108 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citigroup boosted their target price on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. BMO Capital Markets boosted their target price on shares of Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, March 18th. JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. Finally, Jefferies Financial Group assumed coverage on shares of Steel Dynamics in a research note on Monday, May 20th. They issued a “hold” rating and a $150.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $125.29.

Get Our Latest Report on STLD

Insider Transactions at Steel Dynamics

In other news, SVP Christopher A. Graham sold 21,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the completion of the sale, the senior vice president now owns 60,415 shares in the company, valued at approximately $8,265,376.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.00% of the company’s stock.

Steel Dynamics Trading Down 2.2 %

NASDAQ STLD opened at $125.52 on Friday. Steel Dynamics, Inc. has a 12 month low of $95.53 and a 12 month high of $151.34. The company has a 50-day moving average of $136.03 and a 200-day moving average of $127.64. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55. The company has a market cap of $19.72 billion, a P/E ratio of 8.62 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLDGet Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.54 by $0.13. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the company posted $4.01 EPS. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, equities analysts predict that Steel Dynamics, Inc. will post 12.44 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Sunday, June 30th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.47%. The ex-dividend date is Friday, June 28th. Steel Dynamics’s payout ratio is currently 12.64%.

About Steel Dynamics

(Free Report)

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. 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 steel 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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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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