DMC Group LLC Purchases Shares of 4,895 Steel Dynamics, Inc. (NASDAQ:STLD)

DMC Group LLC purchased a new position in Steel Dynamics, Inc. (NASDAQ:STLD) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,895 shares of the basic materials company’s stock, valued at approximately $617,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of STLD. Larson Financial Group LLC purchased a new position in shares of Steel Dynamics during the 1st quarter valued at $25,000. Innealta Capital LLC purchased a new position in shares of Steel Dynamics in the second quarter valued at about $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Steel Dynamics during the 2nd quarter valued at approximately $41,000. Riverview Trust Co purchased a new position in Steel Dynamics in the 1st quarter worth approximately $50,000. Finally, Cullen Frost Bankers Inc. lifted its holdings in Steel Dynamics by 33.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 100 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on STLD. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their target price for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. BMO Capital Markets increased their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday. Morgan Stanley reduced their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. raised their price target on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a report on Friday. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and an average target price of $144.29.

Steel Dynamics Stock Up 1.1 %

Shares of NASDAQ STLD opened at $136.57 on Friday. The stock has a market capitalization of $21.46 billion, a price-to-earnings ratio of 9.38 and a beta of 1.31. Steel Dynamics, Inc. has a 12-month low of $98.25 and a 12-month high of $151.34. The company has a current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25. The firm’s 50-day moving average price is $120.79 and its 200-day moving average price is $127.37.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. The business had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.47 earnings per share. On average, equities research analysts anticipate that Steel Dynamics, Inc. will post 10.12 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.35%. The ex-dividend date was Monday, September 30th. Steel Dynamics’s payout ratio is 12.64%.

About Steel Dynamics

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.