Regal Investment Advisors LLC bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,900 shares of the basic materials company's stock, valued at approximately $242,000.
Several other large investors also recently bought and sold shares of the stock. Venture Visionary Partners LLC grew its position in Steel Dynamics by 1.1% during the 1st quarter. Venture Visionary Partners LLC now owns 11,840 shares of the basic materials company's stock worth $987,000 after purchasing an additional 132 shares during the last quarter. Paragon Capital Management Ltd grew its position in Steel Dynamics by 3.6% during the 1st quarter. Paragon Capital Management Ltd now owns 3,932 shares of the basic materials company's stock worth $328,000 after purchasing an additional 138 shares during the last quarter. Eagle Asset Management Inc. grew its position in Steel Dynamics by 0.5% during the 4th quarter. Eagle Asset Management Inc. now owns 37,183 shares of the basic materials company's stock worth $2,300,000 after purchasing an additional 175 shares during the last quarter. Delphi Management Inc. MA grew its position in Steel Dynamics by 1.3% during the 4th quarter. Delphi Management Inc. MA now owns 17,338 shares of the basic materials company's stock worth $1,076,000 after purchasing an additional 220 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. grew its position in Steel Dynamics by 52.6% during the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 653 shares of the basic materials company's stock worth $40,000 after purchasing an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company's stock.
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Steel Dynamics Stock Performance
STLD opened at $78.78 on Monday. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.52 and a quick ratio of 1.87. The firm has a fifty day moving average price of $72.26 and a 200 day moving average price of $74.36. Steel Dynamics, Inc. has a 1 year low of $50.54 and a 1 year high of $100.37. The stock has a market cap of $14.39 billion, a P/E ratio of 3.50 and a beta of 1.41.
Steel Dynamics (NASDAQ:STLD – Get Rating) last posted its earnings results on Wednesday, July 20th. The basic materials company reported $6.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.34 by $0.39. Steel Dynamics had a net
margin of 19.81% and a return on equity of 71.50%. The firm had revenue of $6.21 billion during the quarter, compared to analysts' expectations of $5.93 billion. During the same period in the previous year, the business posted $3.40 EPS. The business's revenue was up 39.1% compared to the same quarter last year. Equities research analysts anticipate that Steel Dynamics, Inc. will post 21.07 earnings per share for the current year.
Analysts Set New Price Targets
Several analysts have weighed in on STLD shares. Morgan Stanley dropped their target price on shares of Steel Dynamics from $94.00 to $78.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 6th. UBS Group set a $95.00 price objective on shares of Steel Dynamics in a research note on Monday, June 20th. JPMorgan Chase & Co. decreased their price objective on shares of Steel Dynamics from $129.00 to $110.00 in a research note on Tuesday, June 14th. BMO Capital Markets lifted their price objective on shares of Steel Dynamics from $95.00 to $104.00 in a research note on Friday, April 22nd. Finally, The Goldman Sachs Group cut shares of Steel Dynamics from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $114.00 to $92.00 in a research note on Tuesday, May 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $89.00.
Insider Activity at Steel Dynamics
In related news, Director Keith E. Busse sold 5,040 shares of the business's stock in a transaction on Friday, June 3rd. The shares were sold at an average price of $83.51, for a total value of $420,890.40. Following the completion of the transaction, the director now directly owns 724,034 shares in the company, valued at approximately $60,464,079.34. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 5.40% of the company's stock.
Steel Dynamics Profile
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Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.
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