Steel Dynamics, Inc. (STLD) Shares Sold by Raymond James & Associates

Raymond James & Associates decreased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 5.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 681,285 shares of the basic materials company’s stock after selling 37,788 shares during the period. Raymond James & Associates owned about 0.29% of Steel Dynamics worth $31,305,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. GWM Advisors LLC purchased a new position in shares of Steel Dynamics during the 2nd quarter worth approximately $683,000. American International Group Inc. grew its holdings in shares of Steel Dynamics by 0.6% during the 2nd quarter. American International Group Inc. now owns 474,862 shares of the basic materials company’s stock worth $21,820,000 after acquiring an additional 2,709 shares during the period. Janney Montgomery Scott LLC grew its holdings in shares of Steel Dynamics by 5.7% during the 2nd quarter. Janney Montgomery Scott LLC now owns 194,173 shares of the basic materials company’s stock worth $8,922,000 after acquiring an additional 10,429 shares during the period. First Quadrant L P CA purchased a new position in shares of Steel Dynamics during the 2nd quarter worth approximately $12,696,000. Finally, South Dakota Investment Council grew its holdings in shares of Steel Dynamics by 25.0% during the 1st quarter. South Dakota Investment Council now owns 60,000 shares of the basic materials company’s stock worth $2,653,000 after acquiring an additional 12,000 shares during the period. Hedge funds and other institutional investors own 83.40% of the company’s stock.

A number of research analysts have weighed in on STLD shares. Bank of America upped their target price on Steel Dynamics from $54.00 to $56.00 and gave the stock a “buy” rating in a report on Wednesday, July 25th. BidaskClub downgraded Steel Dynamics from a “hold” rating to a “sell” rating in a report on Thursday, August 9th. Zacks Investment Research downgraded Steel Dynamics from a “buy” rating to a “hold” rating in a research note on Monday, August 13th. Morgan Stanley upgraded Steel Dynamics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $50.00 to $52.00 in a research note on Monday, August 27th. Finally, Jefferies Financial Group restated a “buy” rating and issued a $58.00 price target on shares of Steel Dynamics in a research note on Wednesday, July 25th. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $54.17.

STLD stock opened at $46.19 on Tuesday. The company has a market capitalization of $10.97 billion, a P/E ratio of 17.43, a price-to-earnings-growth ratio of 0.70 and a beta of 1.32. Steel Dynamics, Inc. has a 12-month low of $32.20 and a 12-month high of $52.10. The company has a current ratio of 3.61, a quick ratio of 1.92 and a debt-to-equity ratio of 0.66.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Monday, July 23rd. The basic materials company reported $1.53 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.49 by $0.04. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $2.91 billion. Steel Dynamics had a return on equity of 26.90% and a net margin of 10.01%. The firm’s quarterly revenue was up 29.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.63 EPS. analysts forecast that Steel Dynamics, Inc. will post 5.52 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 12th. Investors of record on Sunday, September 30th will be given a $0.1875 dividend. The ex-dividend date of this dividend is Thursday, September 27th. This represents a $0.75 annualized dividend and a yield of 1.62%. Steel Dynamics’s dividend payout ratio (DPR) is presently 28.30%.

Steel Dynamics declared that its board has authorized a stock repurchase plan on Tuesday, September 4th that permits the company to buyback $750.00 million in outstanding shares. This buyback authorization permits the basic materials company to purchase up to 6.8% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its shares are undervalued.

Steel Dynamics Profile

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. The company operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment provides hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; merchant bar products, including angles, merchant rounds, flats, channels, and reinforcing bars; beams, channels, and specialty steel sections; and threaded rod products, and cold drawn and heat treated bars.

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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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