R Squared Ltd Invests $227,000 in Steel Dynamics, Inc. $STLD

R Squared Ltd bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the second quarter, according to its most recent filing with the SEC. The fund bought 1,770 shares of the basic materials company’s stock, valued at approximately $227,000.

Other hedge funds also recently made changes to their positions in the company. Harbour Capital Advisors LLC raised its stake in Steel Dynamics by 0.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 14,828 shares of the basic materials company’s stock valued at $1,988,000 after acquiring an additional 80 shares during the period. Hemington Wealth Management raised its stake in Steel Dynamics by 35.9% in the 1st quarter. Hemington Wealth Management now owns 318 shares of the basic materials company’s stock valued at $39,000 after acquiring an additional 84 shares during the period. Sequoia Financial Advisors LLC raised its stake in Steel Dynamics by 1.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,803 shares of the basic materials company’s stock valued at $726,000 after acquiring an additional 91 shares during the period. Sunbelt Securities Inc. raised its stake in Steel Dynamics by 25.0% in the 1st quarter. Sunbelt Securities Inc. now owns 500 shares of the basic materials company’s stock valued at $63,000 after acquiring an additional 100 shares during the period. Finally, Blair William & Co. IL raised its stake in Steel Dynamics by 5.8% in the 2nd quarter. Blair William & Co. IL now owns 1,813 shares of the basic materials company’s stock valued at $232,000 after acquiring an additional 100 shares during the period. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Trading Up 1.5%

NASDAQ STLD opened at $152.95 on Friday. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $156.24. The stock has a market cap of $22.52 billion, a P/E ratio of 20.26, a P/E/G ratio of 1.27 and a beta of 1.40. The stock’s fifty day moving average price is $137.91 and its 200-day moving average price is $131.95. The company has a current ratio of 3.13, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Monday, October 20th. The basic materials company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.63 by $0.11. The company had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a return on equity of 12.93% and a net margin of 6.39%.Steel Dynamics’s revenue was up 11.2% compared to the same quarter last year. During the same period last year, the firm posted $2.05 earnings per share. As a group, equities analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were issued a dividend of $0.50 per share. The ex-dividend date was Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.3%. Steel Dynamics’s payout ratio is presently 26.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. BMO Capital Markets boosted their price objective on Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research note on Wednesday. UBS Group set a $158.00 price target on Steel Dynamics and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Company upped their price target on Steel Dynamics from $150.00 to $169.00 and gave the company an “overweight” rating in a research report on Wednesday. Weiss Ratings reiterated a “hold (c)” rating on shares of Steel Dynamics in a research report on Saturday. Finally, Morgan Stanley upped their price target on Steel Dynamics from $145.00 to $173.00 and gave the company an “overweight” rating in a research report on Friday. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $162.44.

Insider Transactions at Steel Dynamics

In related news, SVP Christopher A. Graham sold 12,000 shares of the business’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the completion of the transaction, the senior vice president owned 66,738 shares in the company, valued at $8,456,371.98. The trade was a 15.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.30% of the stock is currently owned by insiders.

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.