SPC Financial Inc. Has $1.75 Million Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

SPC Financial Inc. raised its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 1.0% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 11,804 shares of the basic materials company’s stock after acquiring an additional 115 shares during the quarter. SPC Financial Inc.’s holdings in Steel Dynamics were worth $1,750,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Greenfield Savings Bank increased its position in Steel Dynamics by 0.7% in the 1st quarter. Greenfield Savings Bank now owns 11,676 shares of the basic materials company’s stock valued at $1,731,000 after acquiring an additional 85 shares during the period. EverSource Wealth Advisors LLC increased its position in shares of Steel Dynamics by 9.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the basic materials company’s stock worth $126,000 after buying an additional 88 shares during the period. Global Retirement Partners LLC increased its position in shares of Steel Dynamics by 19.2% during the first quarter. Global Retirement Partners LLC now owns 570 shares of the basic materials company’s stock worth $84,000 after buying an additional 92 shares during the period. Signaturefd LLC increased its position in shares of Steel Dynamics by 0.9% during the fourth quarter. Signaturefd LLC now owns 10,698 shares of the basic materials company’s stock worth $1,263,000 after buying an additional 93 shares during the period. Finally, Summit Trail Advisors LLC increased its position in shares of Steel Dynamics by 5.3% during the first quarter. Summit Trail Advisors LLC now owns 1,937 shares of the basic materials company’s stock worth $288,000 after buying an additional 98 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Stock Performance

STLD stock traded up $2.49 during mid-day trading on Thursday, hitting $129.77. The company had a trading volume of 1,359,506 shares, compared to its average volume of 1,230,870. The firm has a market cap of $20.39 billion, a PE ratio of 8.92 and a beta of 1.35. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.55 and a current ratio of 2.87. Steel Dynamics, Inc. has a 12 month low of $95.53 and a 12 month high of $151.34. The stock’s fifty day moving average price is $129.25 and its two-hundred day moving average price is $129.05.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.54 by $0.13. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the previous year, the firm posted $4.01 earnings per share. The company’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, analysts forecast that Steel Dynamics, Inc. will post 11.64 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Sunday, June 30th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Friday, June 28th. Steel Dynamics’s dividend payout ratio (DPR) is currently 12.64%.

Insider Activity

In related news, SVP Christopher A. Graham sold 21,000 shares of the company’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 transaction of $2,873,010.00. Following the sale, the senior vice president now owns 60,415 shares of the company’s stock, valued at approximately $8,265,376.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.10% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have commented on STLD shares. Citigroup raised their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. BMO Capital Markets reduced their price target on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a report on Tuesday, June 18th. Jefferies Financial Group started coverage on shares of Steel Dynamics in a report on Monday, May 20th. They issued a “hold” rating and a $150.00 price target for the company. JPMorgan Chase & Co. raised their price target on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Finally, Bank of America reduced their price target on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $133.57.

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.