Posted by admin on Aug 5th, 2022
Commonwealth Equity Services LLC decreased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) by 22.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 56,220 shares of the basic materials company’s stock after selling 16,544 shares during the period. Commonwealth Equity Services LLC’s holdings in Steel Dynamics were worth $4,690,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Rational Advisors LLC purchased a new position in shares of Steel Dynamics in the fourth quarter worth about $25,000. Citizens National Bank Trust Department purchased a new position in shares of Steel Dynamics in the fourth quarter worth about $25,000. Allegheny Financial Group LTD purchased a new position in shares of Steel Dynamics in the fourth quarter worth about $27,000. UMB Bank N A MO purchased a new position in shares of Steel Dynamics in the fourth quarter worth about $27,000. Finally, Riverview Trust Co purchased a new position in shares of Steel Dynamics in the first quarter worth about $28,000. Hedge funds and other institutional investors own 83.19% of the company’s stock.
Steel Dynamics stock opened at $77.48 on Friday. The stock’s 50 day simple moving average is $72.44 and its two-hundred day simple moving average is $74.00. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.87 and a current ratio of 3.52. The stock has a market cap of $14.62 billion, a price-to-earnings ratio of 3.45 and a beta of 1.41. Steel Dynamics, Inc. has a fifty-two week low of $50.54 and a fifty-two week high of $100.37.
Steel Dynamics (NASDAQ:STLD – Get Rating) last posted its quarterly earnings data on Wednesday, July 20th. The basic materials company reported $6.73 earnings per share for the quarter, beating the consensus estimate of $6.34 by $0.39. The business had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $5.93 billion. Steel Dynamics had a return on equity of 71.50% and a net margin of 19.81%. The business’s revenue was up 39.1% on a year-over-year basis. During the same period in the previous year, the firm posted $3.40 EPS. As a group, analysts expect that Steel Dynamics, Inc. will post 21.07 earnings per share for the current fiscal year.
In other news, Director Keith E. Busse sold 5,040 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $83.51, for a total value of $420,890.40. Following the sale, the director now directly owns 724,034 shares of the company’s stock, valued at approximately $60,464,079.34. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 5.40% of the company’s stock.
Several research analysts have recently commented on STLD shares. BMO Capital Markets lifted their price objective on Steel Dynamics from $95.00 to $104.00 in a report on Friday, April 22nd. JPMorgan Chase & Co. reduced their price target on Steel Dynamics from $129.00 to $110.00 in a report on Tuesday, June 14th. Morgan Stanley reduced their price target on Steel Dynamics from $94.00 to $78.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 6th. UBS Group set a $95.00 price target on Steel Dynamics in a report on Monday, June 20th. Finally, The Goldman Sachs Group downgraded Steel Dynamics from a “buy” rating to a “neutral” rating and reduced their price target for the company from $114.00 to $92.00 in a report on Tuesday, May 31st. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Steel Dynamics presently has a consensus rating of “Moderate Buy” and an average target price of $89.00.
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 roll, cold roll, 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; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.
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