SPC Financial Inc. Has $1.47 Million Position in Steel Dynamics, Inc. $STLD

SPC Financial Inc. raised its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 2.6% during the second quarter, Holdings Channel.com reports. The fund owned 11,443 shares of the basic materials company’s stock after purchasing an additional 285 shares during the period. SPC Financial Inc.’s holdings in Steel Dynamics were worth $1,465,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Price T Rowe Associates Inc. MD grew its holdings in Steel Dynamics by 25.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company’s stock worth $883,854,000 after acquiring an additional 1,437,897 shares during the period. Victory Capital Management Inc. grew its holdings in Steel Dynamics by 433.1% during the 1st quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company’s stock worth $227,211,000 after acquiring an additional 1,475,767 shares during the period. Robeco Institutional Asset Management B.V. grew its holdings in Steel Dynamics by 40.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,675,973 shares of the basic materials company’s stock worth $214,541,000 after acquiring an additional 484,304 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Steel Dynamics by 3.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,599,076 shares of the basic materials company’s stock worth $200,012,000 after acquiring an additional 52,218 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in Steel Dynamics by 2.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,405,666 shares of the basic materials company’s stock worth $175,821,000 after acquiring an additional 30,759 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on STLD shares. Wells Fargo & Company lifted their target price on shares of Steel Dynamics from $143.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. Morgan Stanley lifted their target price on shares of Steel Dynamics from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, June 20th. JPMorgan Chase & Co. lifted their target price on shares of Steel Dynamics from $138.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Steel Dynamics in a research report on Wednesday. Eight analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Steel Dynamics presently has a consensus rating of “Moderate Buy” and a consensus target price of $148.78.

Insider Buying and Selling

In related news, SVP Christopher A. Graham sold 12,000 shares of the business’s stock in a transaction on 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 sale, the senior vice president directly owned 66,738 shares of the company’s stock, valued at approximately $8,456,371.98. The trade was a 15.24% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.30% of the company’s stock.

Steel Dynamics Trading Down 4.4%

Shares of NASDAQ STLD opened at $141.23 on Friday. The company’s fifty day moving average is $133.25 and its 200-day moving average is $129.93. The stock has a market cap of $20.79 billion, a price-to-earnings ratio of 20.59, a P/E/G ratio of 1.15 and a beta of 1.40. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results 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). The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.82 billion. Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%.The company’s revenue for the quarter was down 1.5% compared to the same quarter last year. During the same period in the prior year, the business earned $2.72 earnings per share. Equities research analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend was Tuesday, September 30th. Steel Dynamics’s payout ratio is currently 29.15%.

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.