Hamilton Wealth LLC Makes New Investment in Steel Dynamics, Inc. (NASDAQ:STLD)

Hamilton Wealth LLC bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 1,475 shares of the basic materials company’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Larson Financial Group LLC bought a new stake in Steel Dynamics in the first quarter valued at $25,000. LifeSteps Financial Inc. bought a new stake in Steel Dynamics during the 1st quarter valued at approximately $26,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Steel Dynamics during the 4th quarter worth approximately $29,000. Lindbrook Capital LLC lifted its stake in shares of 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 purchasing an additional 134 shares during the period. Finally, Security National Bank bought a new stake in shares of Steel Dynamics during the fourth quarter valued at approximately $30,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of NASDAQ:STLD traded down $5.07 during midday trading on Friday, reaching $121.28. 1,342,346 shares of the company’s stock traded hands, compared to its average volume of 1,332,854. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. Steel Dynamics, Inc. has a one year low of $95.53 and a one year high of $151.34. The company has a market cap of $19.06 billion, a price-to-earnings ratio of 8.33 and a beta of 1.35. The stock has a 50 day moving average of $127.49 and a 200 day moving average of $130.34.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.67 by $0.05. The business had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. During the same quarter in the prior year, the business earned $4.81 EPS. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Steel Dynamics, Inc. will post 11.35 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Sunday, June 30th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $1.84 dividend on an annualized basis and a yield of 1.52%. Steel Dynamics’s dividend payout ratio is presently 12.64%.

Insider Activity

In other news, Director Gabriel Shaheen 1,825 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Steel Dynamics news, SVP Christopher A. Graham sold 21,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the completion of the sale, the senior vice president now 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 accessible through the SEC website. Also, Director Gabriel Shaheen 1,825 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The disclosure for this trade can be found here. Insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on STLD shares. Jefferies Financial Group began coverage on shares of Steel Dynamics in a report on Monday, May 20th. They set a “hold” rating and a $150.00 target price on the stock. Bank of America dropped their price target on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $118.00 to $120.00 and gave the company an “underweight” rating in a research report on Tuesday, July 16th. Finally, BMO Capital Markets dropped their target price on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating on the stock in a report on Tuesday, June 18th. One investment 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. Based on data from MarketBeat, Steel Dynamics currently has an average rating of “Hold” and an average target price of $133.86.

Steel Dynamics 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.