Rothschild Investment LLC Acquires New Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Rothschild Investment LLC bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 1,381 shares of the basic materials company’s stock, valued at approximately $179,000.

Other institutional investors have also recently bought and sold shares of the company. Larson Financial Group LLC bought a new position in shares of Steel Dynamics in the 1st quarter worth $25,000. LifeSteps Financial Inc. acquired a new position in Steel Dynamics in the first quarter valued at about $26,000. Security National Bank bought a new position in Steel Dynamics during the fourth quarter worth about $30,000. Innealta Capital LLC bought a new position in Steel Dynamics during the second quarter worth about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Steel Dynamics during the 2nd quarter worth about $41,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Price Performance

STLD stock opened at $119.51 on Tuesday. The stock has a 50-day moving average price of $123.97 and a two-hundred day moving average price of $130.52. Steel Dynamics, Inc. has a 1 year low of $95.53 and a 1 year high of $151.34. The stock has a market cap of $18.78 billion, a PE ratio of 8.21 and a beta of 1.35. The company has a current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.05. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The company had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same period in the prior year, the firm earned $4.81 earnings per share. Steel Dynamics’s revenue for the quarter was down 8.8% compared to the same quarter last year. Equities analysts forecast that Steel Dynamics, Inc. will post 10.74 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.46 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.84 annualized dividend and a dividend yield of 1.54%. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Analyst Ratings Changes

Several research analysts recently weighed in on STLD shares. Bank of America reduced their price objective on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Jefferies Financial Group initiated coverage on shares of Steel Dynamics in a report on Monday, May 20th. They issued a “hold” rating and a $150.00 price target for the company. BMO Capital Markets lowered their price objective on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a research report on Tuesday, June 18th. Morgan Stanley lifted their target price on Steel Dynamics from $134.00 to $138.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Finally, JPMorgan Chase & Co. raised their price target on Steel Dynamics from $118.00 to $120.00 and gave the stock an “underweight” rating in a research report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $138.14.

About Steel Dynamics

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.