Schuylkill Financial LLC Invests $786,000 in Steel Dynamics, Inc. $STLD

Schuylkill Financial LLC purchased a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,427 shares of the basic materials company’s stock, valued at approximately $786,000.

Several other hedge funds also recently modified their holdings of the company. Keating Financial Advisory Services Inc. grew its holdings in Steel Dynamics by 27.1% during the 2nd quarter. Keating Financial Advisory Services Inc. now owns 197 shares of the basic materials company’s stock worth $45,000 after acquiring an additional 42 shares during the last quarter. Jacobi Capital Management LLC grew its stake in Steel Dynamics by 1.6% during the fourth quarter. Jacobi Capital Management LLC now owns 3,533 shares of the basic materials company’s stock worth $599,000 after purchasing an additional 55 shares during the period. Hohimer Wealth Management LLC grew its stake in Steel Dynamics by 1.1% during the fourth quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company’s stock worth $967,000 after purchasing an additional 61 shares during the period. Kestra Private Wealth Services LLC increased its holdings in Steel Dynamics by 2.7% in the first quarter. Kestra Private Wealth Services LLC now owns 2,396 shares of the basic materials company’s stock worth $431,000 after purchasing an additional 64 shares in the last quarter. Finally, Trustmark Bank Trust Department lifted its stake in Steel Dynamics by 4.5% in the second quarter. Trustmark Bank Trust Department now owns 1,613 shares of the basic materials company’s stock valued at $370,000 after buying an additional 70 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Barclays increased their price target on Steel Dynamics from $270.00 to $272.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a research report on Wednesday, July 29th. They set a “buy” rating and a $300.00 target price on the stock. Morgan Stanley cut their target price on shares of Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 22nd. Weiss Ratings upgraded shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Steel Dynamics in a research note on Wednesday, July 22nd. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $257.27.

Steel Dynamics Price Performance

Shares of STLD opened at $242.06 on Friday. Steel Dynamics, Inc. has a 12-month low of $129.41 and a 12-month high of $288.74. The business’s fifty day moving average is $241.46 and its 200 day moving average is $225.03. The company has a quick ratio of 1.45, a current ratio of 3.18 and a debt-to-equity ratio of 0.45. The stock has a market cap of $34.69 billion, a P/E ratio of 21.95, a P/E/G ratio of 0.46 and a beta of 1.50.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.63 by $0.06. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The business had revenue of $6.09 billion during the quarter, compared to the consensus estimate of $5.56 billion. During the same quarter last year, the firm posted $2.01 EPS. Steel Dynamics’s revenue was up 33.4% compared to the same quarter last year. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 17.16 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.12 annualized dividend and a dividend yield of 0.9%. Steel Dynamics’s payout ratio is presently 19.22%.

Steel Dynamics Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.