Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Pitcairn Co.

Pitcairn Co. lessened its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 4.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,303 shares of the basic materials company’s stock after selling 112 shares during the period. Pitcairn Co.’s holdings in Steel Dynamics were worth $341,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Larson Financial Group LLC purchased a new stake in Steel Dynamics during the 1st quarter valued at approximately $25,000. LifeSteps Financial Inc. acquired a new stake in shares of Steel Dynamics during the first quarter worth $26,000. CVA Family Office LLC acquired a new stake in shares of Steel Dynamics during the fourth quarter worth $28,000. Turtle Creek Wealth Advisors LLC purchased a new position in Steel Dynamics in the 4th quarter valued at $29,000. Finally, Lindbrook Capital LLC increased its stake in Steel Dynamics by 117.5% in the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock valued at $29,000 after buying an additional 134 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Activity

In related news, SVP Christopher A. Graham sold 21,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $136.81, for a total value of $2,873,010.00. Following the sale, the senior vice president now directly owns 60,415 shares of the company’s stock, valued at $8,265,376.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.00% of the company’s stock.

Steel Dynamics Trading Up 3.5 %

Shares of NASDAQ:STLD traded up $4.31 during trading on Thursday, reaching $127.60. The stock had a trading volume of 1,594,045 shares, compared to its average volume of 1,245,451. Steel Dynamics, Inc. has a fifty-two week low of $95.53 and a fifty-two week high of $151.34. The business has a fifty day moving average price of $128.24 and a 200-day moving average price of $129.74. The stock has a market cap of $20.05 billion, a P/E ratio of 8.80 and a beta of 1.35. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.05. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The company had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the previous year, the firm posted $4.81 EPS. Steel Dynamics’s revenue was down 8.8% on a year-over-year basis. As a group, analysts anticipate that Steel Dynamics, Inc. will post 11.51 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Sunday, June 30th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend was Friday, June 28th. Steel Dynamics’s dividend payout ratio (DPR) is 12.64%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. BMO Capital Markets reduced their target price on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a research note on Tuesday, June 18th. Bank of America lowered their price objective on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. Jefferies Financial Group assumed coverage on Steel Dynamics in a research report on Monday, May 20th. They set a “hold” rating and a $150.00 target price on the stock. Finally, JPMorgan Chase & Co. raised their price target on Steel Dynamics from $118.00 to $120.00 and gave the company an “underweight” rating in a report on Tuesday, July 16th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, Steel Dynamics presently has an average rating of “Hold” and a consensus target price of $133.86.

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.