Y Intercept Hong Kong Ltd Buys 30,815 Shares of Steel Dynamics, Inc. $STLD

Y Intercept Hong Kong Ltd lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 825.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 34,548 shares of the basic materials company’s stock after acquiring an additional 30,815 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Steel Dynamics were worth $4,422,000 as of its most recent SEC filing.

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

Steel Dynamics Trading Up 1.9%

Steel Dynamics stock opened at $161.07 on Wednesday. The business has a 50 day moving average price of $139.21 and a two-hundred day moving average price of $132.57. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.43. The stock has a market cap of $23.52 billion, a price-to-earnings ratio of 21.33, a price-to-earnings-growth ratio of 1.33 and a beta of 1.40. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $163.10.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results 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 firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.The company’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.05 EPS. As a group, equities analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.00 annualized dividend and a yield of 1.2%. Steel Dynamics’s dividend payout ratio is 26.49%.

Analyst Ratings Changes

Several analysts have recently issued reports on STLD shares. Morgan Stanley upped their price target on Steel Dynamics from $145.00 to $173.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Wells Fargo & Company boosted their price objective on Steel Dynamics from $150.00 to $169.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c)” rating on shares of Steel Dynamics in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on Steel Dynamics from $150.00 to $160.00 and gave the stock a “neutral” rating in a research report on Monday, October 13th. Finally, UBS Group set a $158.00 price objective on Steel Dynamics and gave the stock a “buy” rating in a research report on Tuesday, October 21st. Eight analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $163.56.

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.