Ameritas Investment Partners Inc. boosted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 4.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 94,845 shares of the basic materials company’s stock after buying an additional 3,704 shares during the period. Ameritas Investment Partners Inc.’s holdings in Steel Dynamics were worth $3,395,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of STLD. Washington Trust Bank raised its holdings in Steel Dynamics by 48.8% during the 2nd quarter. Washington Trust Bank now owns 3,393 shares of the basic materials company’s stock worth $122,000 after buying an additional 1,113 shares during the period. Creative Planning raised its holdings in Steel Dynamics by 36.3% during the 2nd quarter. Creative Planning now owns 4,718 shares of the basic materials company’s stock worth $169,000 after buying an additional 1,256 shares during the period. Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in Steel Dynamics during the 2nd quarter worth about $179,000. Nomura Asset Management Co. Ltd. raised its holdings in Steel Dynamics by 11.1% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 5,390 shares of the basic materials company’s stock worth $187,000 after buying an additional 540 shares during the period. Finally, IHT Wealth Management LLC raised its holdings in Steel Dynamics by 0.7% during the 2nd quarter. IHT Wealth Management LLC now owns 407 shares of the basic materials company’s stock worth $198,000 after buying an additional 3 shares during the period. Hedge funds and other institutional investors own 82.64% of the company’s stock.
In other news, Director Keith E. Busse sold 4,965 shares of Steel Dynamics stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $38.42, for a total transaction of $190,755.30. Following the completion of the transaction, the director now directly owns 1,005,666 shares in the company, valued at approximately $38,637,687.72. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Christopher A. Graham sold 5,021 shares of Steel Dynamics stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $38.05, for a total value of $191,049.05. Following the transaction, the insider now owns 26,778 shares of the company’s stock, valued at $1,018,902.90. The disclosure for this sale can be found here. Insiders own 4.20% of the company’s stock.
Several analysts have issued reports on the company. Jefferies Group LLC restated a “buy” rating and set a $43.00 price objective on shares of Steel Dynamics in a report on Friday, October 6th. Longbow Research downgraded Steel Dynamics from a “buy” rating to a “neutral” rating in a report on Monday, October 2nd. Citigroup Inc. dropped their target price on Steel Dynamics from $43.00 to $41.00 and set a “buy” rating on the stock in a report on Friday, September 15th. Morgan Stanley downgraded Steel Dynamics from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $45.00 to $33.00 in a report on Tuesday, September 12th. Finally, Macquarie assumed coverage on Steel Dynamics in a report on Wednesday, September 6th. They issued a “neutral” rating and a $36.00 target price on the stock. Eight equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $40.63.
Shares of Steel Dynamics, Inc. (NASDAQ:STLD) traded up 1.40% during midday trading on Wednesday, reaching $36.13. The company’s stock had a trading volume of 1,276,913 shares. The firm has a market cap of $8.67 billion, a price-to-earnings ratio of 16.57 and a beta of 1.29. Steel Dynamics, Inc. has a 12 month low of $23.34 and a 12 month high of $40.17. The company has a 50-day moving average price of $34.29 and a 200-day moving average price of $34.88.
Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, July 19th. The basic materials company reported $0.63 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.63. The firm had revenue of $2.39 billion for the quarter, compared to analyst estimates of $2.37 billion. Steel Dynamics had a return on equity of 21.75% and a net margin of 6.07%. The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.58 EPS. Equities analysts expect that Steel Dynamics, Inc. will post $2.71 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 12th. Stockholders of record on Saturday, September 30th will be paid a dividend of $0.155 per share. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $0.62 annualized dividend and a dividend yield of 1.74%. Steel Dynamics’s dividend payout ratio is currently 28.57%.
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Steel Dynamics Profile
Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.
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