Steel Dynamics, Inc. (NASDAQ:STLD) Position Trimmed by Diversified Trust Co

Diversified Trust Co decreased its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 25.3% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 16,364 shares of the basic materials company’s stock after selling 5,535 shares during the quarter. Diversified Trust Co’s holdings in Steel Dynamics were worth $2,119,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Larson Financial Group LLC bought a new stake in shares of Steel Dynamics in the 1st quarter valued at approximately $25,000. LifeSteps Financial Inc. acquired a new position in shares of Steel Dynamics during the first quarter worth approximately $26,000. Lindbrook Capital LLC lifted its holdings in shares of Steel Dynamics by 117.5% during the fourth quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock worth $29,000 after buying an additional 134 shares during the last quarter. Security National Bank acquired a new position in shares of Steel Dynamics during the fourth quarter worth approximately $30,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new position in shares of Steel Dynamics during the second quarter worth approximately $41,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Price Performance

Shares of STLD stock traded down $3.50 during trading hours on Wednesday, hitting $113.77. 257,212 shares of the company’s stock were exchanged, compared to its average volume of 1,229,769. The stock’s 50-day moving average is $125.68 and its 200-day moving average is $130.81. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.35 and a quick ratio of 1.19. The stock has a market cap of $17.55 billion, a price-to-earnings ratio of 8.05 and a beta of 1.35. Steel Dynamics, Inc. has a 52 week low of $95.53 and a 52 week high of $151.34.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.05. The business had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The firm’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same quarter last year, the business earned $4.81 earnings per share. As a group, research analysts forecast that Steel Dynamics, Inc. will post 11.05 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. BMO Capital Markets cut their price target on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a report on Tuesday, June 18th. Bank of America cut their price target on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Jefferies Financial Group began coverage on Steel Dynamics in a research note on Monday, May 20th. They issued a “hold” rating and a $150.00 target price for the company. Finally, JPMorgan Chase & Co. upped their target price on Steel Dynamics from $118.00 to $120.00 and gave the company an “underweight” rating in a research note on Tuesday, July 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Steel Dynamics has an average rating of “Hold” and a consensus price target of $133.86.

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.