Steel Dynamics, Inc. (NASDAQ:STLD) Shares Bought by Lbp Am Sa

Lbp Am Sa raised its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 26.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,966 shares of the basic materials company’s stock after purchasing an additional 4,599 shares during the period. Lbp Am Sa’s holdings in Steel Dynamics were worth $3,256,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its holdings in shares of Steel Dynamics by 4.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock valued at $534,295,000 after acquiring an additional 152,254 shares during the period. Norges Bank acquired a new position in Steel Dynamics during the 4th quarter valued at about $221,817,000. Charles Schwab Investment Management Inc. grew its position in Steel Dynamics by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,354,525 shares of the basic materials company’s stock worth $159,969,000 after purchasing an additional 21,143 shares during the last quarter. Acadian Asset Management LLC raised its holdings in shares of Steel Dynamics by 21.6% during the first quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock valued at $168,550,000 after buying an additional 202,312 shares during the last quarter. Finally, Nordea Investment Management AB boosted its position in shares of Steel Dynamics by 2.5% during the first quarter. Nordea Investment Management AB now owns 1,034,133 shares of the basic materials company’s stock worth $153,290,000 after buying an additional 25,280 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

STLD has been the subject of several recent analyst reports. Jefferies Financial Group initiated coverage on Steel Dynamics in a research note on Monday, May 20th. They issued a “hold” rating and a $150.00 price target for the company. BMO Capital Markets cut their target price on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a research report on Tuesday, June 18th. JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $118.00 to $120.00 and gave the stock an “underweight” rating in a report on Tuesday, July 16th. Finally, Bank of America reduced their price objective on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. One research 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’s stock. According to data from MarketBeat, Steel Dynamics has a consensus rating of “Hold” and an average target price of $133.86.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, Director Gabriel Shaheen 1,825 shares of Steel Dynamics stock in a transaction on Tuesday, July 30th. The was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Steel Dynamics news, Director Gabriel Shaheen 1,825 shares of the business’s stock in a transaction on Tuesday, July 30th. The was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christopher A. Graham sold 21,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total value of $2,873,010.00. Following the transaction, the senior vice president now directly owns 60,415 shares in the company, valued at approximately $8,265,376.15. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by insiders.

Steel Dynamics Stock Performance

STLD stock traded down $6.87 during midday trading on Thursday, hitting $126.35. 1,472,130 shares of the company traded hands, compared to its average volume of 1,243,056. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25. The business has a 50 day simple moving average of $127.87 and a 200-day simple moving average of $130.29. The stock has a market capitalization of $19.85 billion, a price-to-earnings ratio of 9.15 and a beta of 1.35. Steel Dynamics, Inc. has a twelve month low of $95.53 and a twelve month high of $151.34.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.05. The company had revenue of $4.63 billion during 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%. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. During the same period in the prior year, the company earned $4.81 earnings per share. As a group, equities research analysts predict that Steel Dynamics, Inc. will post 11.35 earnings per share for the current 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 1.46%. The ex-dividend date of this dividend was Friday, June 28th. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.64%.

About Steel Dynamics

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.