Posted by admin on Jul 8th, 2022
Zurcher Kantonalbank Zurich Cantonalbank reduced its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) by 13.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 46,268 shares of the basic materials company’s stock after selling 7,076 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Steel Dynamics were worth $3,860,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Riverview Trust Co bought a new position in shares of Steel Dynamics during the 1st quarter worth approximately $28,000. Rational Advisors LLC bought a new position in shares of Steel Dynamics during the 4th quarter worth approximately $25,000. Citizens National Bank Trust Department bought a new position in shares of Steel Dynamics during the 4th quarter worth approximately $25,000. UMB Bank N A MO bought a new position in shares of Steel Dynamics during the 4th quarter worth approximately $27,000. Finally, Allegheny Financial Group LTD bought a new position in shares of Steel Dynamics during the 4th quarter worth approximately $27,000. Institutional investors own 83.19% of the company’s stock.
In other news, Director Keith E. Busse sold 5,040 shares of the business’s stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $83.51, for a total transaction of $420,890.40. Following the completion of the transaction, the director now owns 724,034 shares of the company’s stock, valued at approximately $60,464,079.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 5.40% of the company’s stock.
NASDAQ:STLD opened at $66.58 on Friday. The stock has a fifty day moving average price of $75.97 and a 200-day moving average price of $72.86. The company has a market cap of $12.56 billion, a price-to-earnings ratio of 3.44 and a beta of 1.38. 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, 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 released its earnings results on Wednesday, April 20th. The basic materials company reported $6.02 earnings per share for the quarter, beating analysts’ consensus estimates of $5.58 by $0.44. The firm had revenue of $5.57 billion during the quarter, compared to the consensus estimate of $5.35 billion. Steel Dynamics had a return on equity of 69.88% and a net margin of 19.02%. The company’s revenue was up 57.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.10 EPS. Research analysts predict that Steel Dynamics, Inc. will post 19.84 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, July 15th. Stockholders of record on Thursday, June 30th will be given a dividend of $0.34 per share. The ex-dividend date of this dividend is Wednesday, June 29th. This represents a $1.36 dividend on an annualized basis and a dividend yield of 2.04%. Steel Dynamics’s payout ratio is 7.02%.
Several research analysts have recently commented on the company. StockNews.com assumed coverage on Steel Dynamics in a research note on Thursday, March 31st. They set a “buy” rating for the company. BMO Capital Markets boosted their price target on Steel Dynamics from $95.00 to $104.00 in a research note on Friday, April 22nd. UBS Group set a $95.00 price target on Steel Dynamics in a research note on Monday, June 20th. 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 research note on Tuesday, May 31st. Finally, JPMorgan Chase & Co. reduced their price target on Steel Dynamics from $129.00 to $110.00 in a research note on Tuesday, June 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $89.00.
About Steel Dynamics (Get Rating)
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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