SPC Financial Inc. Increases Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

SPC Financial Inc. boosted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,804 shares of the basic materials company’s stock after acquiring an additional 115 shares during the period. SPC Financial Inc.’s holdings in Steel Dynamics were worth $1,750,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Franklin Resources Inc. raised its position in shares of Steel Dynamics by 12.0% during the fourth quarter. Franklin Resources Inc. now owns 344,569 shares of the basic materials company’s stock valued at $40,694,000 after buying an additional 37,033 shares during the last quarter. Nordea Investment Management AB grew its holdings in shares of Steel Dynamics by 1.1% in the fourth quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company’s stock valued at $118,787,000 after purchasing an additional 11,026 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in shares of Steel Dynamics by 1.6% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 17,321 shares of the basic materials company’s stock valued at $2,046,000 after purchasing an additional 278 shares in the last quarter. Schroder Investment Management Group grew its holdings in shares of Steel Dynamics by 15.3% in the fourth quarter. Schroder Investment Management Group now owns 743,697 shares of the basic materials company’s stock valued at $87,831,000 after purchasing an additional 98,764 shares in the last quarter. Finally, Hennessy Advisors Inc. grew its holdings in shares of Steel Dynamics by 30.3% in the first quarter. Hennessy Advisors Inc. now owns 59,700 shares of the basic materials company’s stock valued at $8,849,000 after purchasing an additional 13,900 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Up 2.0 %

NASDAQ STLD traded up $2.49 on Thursday, hitting $129.77. 1,359,506 shares of the stock were exchanged, compared to its average volume of 1,230,870. The firm has a market capitalization of $20.39 billion, a P/E ratio of 8.92 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. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.55 and a current ratio of 2.87. The stock has a fifty day moving average price of $129.25 and a two-hundred day moving average price of $129.05.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.54 by $0.13. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The business’s revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.01 earnings per share. Research analysts forecast that Steel Dynamics, Inc. will post 11.64 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Sunday, June 30th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Friday, June 28th. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Bank of America cut their target price on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Citigroup raised their target price on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. BMO Capital Markets cut their target price on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a report on Tuesday, June 18th. JPMorgan Chase & Co. lifted their price objective on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. Finally, Jefferies Financial Group started coverage on shares of Steel Dynamics in a research note on Monday, May 20th. They set a “hold” rating and a $150.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has given 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 target price of $133.57.

Insider Activity

In other news, SVP Christopher A. Graham sold 21,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the completion of the sale, the senior vice president now directly owns 60,415 shares of the company’s stock, valued at $8,265,376.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.10% of the company’s stock.

Steel Dynamics Company 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.