Janney Montgomery Scott LLC Has $3.06 Million Stock Holdings in Steel Dynamics, Inc. $STLD

Janney Montgomery Scott LLC raised its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,906 shares of the basic materials company’s stock after purchasing an additional 175 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Steel Dynamics were worth $3,060,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its holdings in Steel Dynamics by 25.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company’s stock valued at $883,854,000 after purchasing an additional 1,437,897 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Steel Dynamics by 433.1% during the first quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company’s stock worth $227,211,000 after buying an additional 1,475,767 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Steel Dynamics by 3.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,599,076 shares of the basic materials company’s stock worth $200,012,000 after buying an additional 52,218 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Steel Dynamics by 2.2% during the first quarter. Charles Schwab Investment Management Inc. now owns 1,405,666 shares of the basic materials company’s stock worth $175,821,000 after buying an additional 30,759 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its holdings in shares of Steel Dynamics by 531.0% during the first quarter. Robeco Institutional Asset Management B.V. now owns 1,191,669 shares of the basic materials company’s stock worth $149,054,000 after buying an additional 1,002,813 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “hold (c)” rating on shares of Steel Dynamics in a report on Wednesday. Morgan Stanley lifted their target price on Steel Dynamics from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, June 20th. Wells Fargo & Company lifted their target price on Steel Dynamics from $143.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. Finally, JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $138.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $148.78.

Steel Dynamics Stock Performance

Steel Dynamics stock opened at $146.55 on Thursday. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $155.56. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43. The business’s 50-day moving average price is $132.47 and its two-hundred day moving average price is $129.68. The stock has a market cap of $21.57 billion, a PE ratio of 21.36, a P/E/G ratio of 1.16 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.04). Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The business had revenue of $4.57 billion during the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the firm earned $2.72 EPS. The business’s revenue was down 1.5% on a year-over-year basis. As a group, analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Steel Dynamics’s payout ratio is currently 29.15%.

Insider Transactions at Steel Dynamics

In other news, SVP Christopher A. Graham sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the sale, the senior vice president directly owned 66,738 shares in the company, valued at approximately $8,456,371.98. The trade was a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 6.30% of the stock is currently owned by corporate insiders.

Steel Dynamics Profile

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.