Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by SPC Financial Inc.

SPC Financial Inc. cut its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 1.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,481 shares of the basic materials company’s stock after selling 145 shares during the quarter. SPC Financial Inc.’s holdings in Steel Dynamics were worth $1,448,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in STLD. National Bank of Canada FI boosted its position in shares of Steel Dynamics by 481.2% in the 2nd quarter. National Bank of Canada FI now owns 328,795 shares of the basic materials company’s stock valued at $42,461,000 after purchasing an additional 272,226 shares during the period. Skandinaviska Enskilda Banken AB publ boosted its position in shares of Steel Dynamics by 65.3% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 571,787 shares of the basic materials company’s stock valued at $74,064,000 after purchasing an additional 225,832 shares during the period. Swedbank AB acquired a new stake in shares of Steel Dynamics in the 1st quarter valued at about $32,178,000. Acadian Asset Management LLC boosted its position in shares of Steel Dynamics by 21.6% in the 1st quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock valued at $168,550,000 after purchasing an additional 202,312 shares during the period. Finally, Renaissance Technologies LLC acquired a new stake in shares of Steel Dynamics in the 2nd quarter valued at about $24,670,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $129.86 on Thursday. Steel Dynamics, Inc. has a 1-year low of $98.25 and a 1-year high of $151.34. The company has a market capitalization of $20.04 billion, a P/E ratio of 10.41 and a beta of 1.31. The business has a 50 day moving average price of $120.15 and a 200 day moving average price of $127.55. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.35 and a quick ratio of 1.19.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.05. The company had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. Steel Dynamics’s revenue was down 8.8% compared to the same quarter last year. During the same quarter last year, the business posted $4.81 earnings per share. Sell-side analysts expect that Steel Dynamics, Inc. will post 10.12 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.42%. The ex-dividend date was Monday, September 30th. Steel Dynamics’s payout ratio is 14.76%.

Analysts Set New Price Targets

STLD has been the subject of a number of recent research reports. Morgan Stanley decreased their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. cut their target price on Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. Finally, BMO Capital Markets increased their target price on Steel Dynamics from $127.00 to $130.00 and gave the stock a “market perform” rating in a research note on Thursday, October 10th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $142.86.

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.