Caprock Group LLC Invests $712,000 in Steel Dynamics, Inc. $STLD

Caprock Group LLC purchased a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,435 shares of the basic materials company’s stock, valued at approximately $712,000.

Several other large investors have also recently added to or reduced their stakes in the company. Cornerstone Planning Group LLC increased its position in shares of Steel Dynamics by 1,636.4% in the third quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 180 shares during the period. True Wealth Design LLC grew its stake in Steel Dynamics by 120.4% during the second quarter. True Wealth Design LLC now owns 324 shares of the basic materials company’s stock worth $41,000 after buying an additional 177 shares in the last quarter. Toth Financial Advisory Corp increased its holdings in Steel Dynamics by 50.0% in the 3rd quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock valued at $42,000 after buying an additional 100 shares during the period. Covestor Ltd lifted its holdings in shares of Steel Dynamics by 44.3% during the 3rd quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 93 shares during the period. Finally, CNB Bank acquired a new stake in shares of Steel Dynamics during the 3rd quarter worth approximately $43,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock opened at $191.68 on Tuesday. The business has a 50-day moving average price of $178.56 and a two-hundred day moving average price of $155.88. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $208.47. The company has a current ratio of 3.06, a quick ratio of 1.29 and a debt-to-equity ratio of 0.48. The company has a market cap of $27.99 billion, a P/E ratio of 23.93, a PEG ratio of 0.52 and a beta of 1.46.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, January 27th. The basic materials company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.72 by $0.10. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.The business had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.62 billion. During the same quarter last year, the firm posted $1.36 earnings per share. The firm’s revenue was up 14.0% on a year-over-year basis. As a group, analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Jefferies Financial Group upped their target price on Steel Dynamics from $180.00 to $190.00 and gave the stock a “buy” rating in a research note on Wednesday, December 10th. UBS Group set a $165.00 price objective on Steel Dynamics in a research note on Tuesday, November 4th. Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a research note on Monday, December 29th. The Goldman Sachs Group set a $172.00 target price on shares of Steel Dynamics and gave the stock a “neutral” rating in a report on Friday, October 31st. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $194.00 price target (up from $173.00) on shares of Steel Dynamics in a report on Friday, January 9th. Five investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and a consensus price target of $182.00.

About Steel Dynamics

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.