Oakworth Capital Inc. Raises Position in Steel Dynamics, Inc. $STLD

Oakworth Capital Inc. boosted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 4.0% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,871 shares of the basic materials company’s stock after acquiring an additional 150 shares during the quarter. Oakworth Capital Inc.’s holdings in Steel Dynamics were worth $496,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Financial Gravity Asset Management Inc. bought a new stake in Steel Dynamics during the first quarter valued at approximately $25,000. Cary Street Partners Investment Advisory LLC raised its position in shares of Steel Dynamics by 493.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock valued at $25,000 after buying an additional 163 shares in the last quarter. Zions Bancorporation National Association UT purchased a new stake in shares of Steel Dynamics during the 1st quarter valued at $32,000. WPG Advisers LLC purchased a new position in Steel Dynamics in the first quarter worth $32,000. Finally, Grove Bank & Trust grew its position in Steel Dynamics by 194.7% in the first quarter. Grove Bank & Trust now owns 277 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 183 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. raised their price target on Steel Dynamics from $138.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Wells Fargo & Company raised their price objective on Steel Dynamics from $143.00 to $150.00 and gave the company an “overweight” rating in a report on Monday, September 15th. Finally, Morgan Stanley upped their target price on Steel Dynamics from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.40.

Steel Dynamics Price Performance

STLD opened at $139.63 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.13 and a quick ratio of 1.34. The stock’s 50 day simple moving average is $130.48 and its 200 day simple moving average is $128.82. The firm has a market cap of $20.55 billion, a price-to-earnings ratio of 20.35, a PEG ratio of 1.14 and a beta of 1.40. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Monday, July 21st. The basic materials company reported $2.01 earnings per share for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.04). Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period last year, the company posted $2.72 EPS. The business’s revenue for the quarter was down 1.5% compared to the same quarter last year. As a group, analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is 29.15%.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total value of $1,520,520.00. Following the transaction, the senior vice president owned 66,738 shares in the company, valued at approximately $8,456,371.98. The trade was a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.30% of the stock is currently owned by company insiders.

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.