Posted by admin on Jul 21st, 2022
Dupont Capital Management Corp cut its holdings in Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) by 93.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 968 shares of the basic materials company’s stock after selling 14,646 shares during the period. Dupont Capital Management Corp’s holdings in Steel Dynamics were worth $81,000 at the end of the most recent quarter.
Several other institutional investors also recently modified their holdings of the business. Rational Advisors LLC purchased a new position in Steel Dynamics in the fourth quarter valued at approximately $25,000. Citizens National Bank Trust Department purchased a new position in Steel Dynamics in the fourth quarter valued at approximately $25,000. Allegheny Financial Group LTD purchased a new position in Steel Dynamics in the fourth quarter valued at approximately $27,000. UMB Bank N A MO purchased a new position in Steel Dynamics in the fourth quarter valued at approximately $27,000. Finally, Riverview Trust Co purchased a new position in Steel Dynamics in the first quarter valued at approximately $28,000. 83.19% of the stock is owned by institutional investors.
Several equities analysts recently commented on the company. Morgan Stanley dropped their price objective on Steel Dynamics from $94.00 to $78.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 6th. StockNews.com initiated coverage on Steel Dynamics in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. UBS Group set a $95.00 target price on Steel Dynamics in a research report on Monday, June 20th. JPMorgan Chase & Co. dropped their target price on Steel Dynamics from $129.00 to $110.00 in a research report on Tuesday, June 14th. Finally, The Goldman Sachs Group downgraded Steel Dynamics from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $114.00 to $92.00 in a research report on Tuesday, May 31st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $89.00.
Steel Dynamics stock opened at $68.10 on Thursday. The stock has a market cap of $12.85 billion, a P/E ratio of 3.52 and a beta of 1.38. Steel Dynamics, Inc. has a fifty-two week low of $50.54 and a fifty-two week high of $100.37. The firm’s fifty day moving average price is $73.26 and its 200-day moving average price is $73.16. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.74 and a current ratio of 3.42.
Steel Dynamics (NASDAQ:STLD – Get Rating) last released its quarterly earnings results on Wednesday, July 20th. The basic materials company reported $6.73 earnings per share for the quarter, topping the consensus estimate of $6.34 by $0.39. The firm had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $5.93 billion. Steel Dynamics had a net margin of 19.02% and a return on equity of 69.88%. The business’s quarterly revenue was up 39.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.40 earnings per share. Equities research analysts forecast that Steel Dynamics, Inc. will post 19.77 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 15th. Investors of record on Thursday, June 30th were paid a $0.34 dividend. The ex-dividend date was Wednesday, June 29th. This represents a $1.36 dividend on an annualized basis and a yield of 2.00%. Steel Dynamics’s dividend payout ratio is presently 7.02%.
In related news, Director Keith E. Busse sold 5,040 shares of the stock in a transaction 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 transaction, the director now owns 724,034 shares of the company’s stock, valued at $60,464,079.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 5.40% of the stock is owned by insiders.
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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