Wealth Alliance trimmed its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) by 4.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,343 shares of the basic materials company's stock after selling 180 shares during the period. Wealth Alliance's holdings in Steel Dynamics were worth $363,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of the stock. Rational Advisors LLC acquired a new position in Steel Dynamics during the 4th quarter worth $25,000. Citizens National Bank Trust Department acquired a new position in shares of Steel Dynamics during the fourth quarter valued at $25,000. Allegheny Financial Group LTD acquired a new stake in Steel Dynamics in the fourth quarter worth about $27,000. UMB Bank N A MO bought a new stake in Steel Dynamics during the 4th quarter worth about $27,000. Finally, Riverview Trust Co bought a new stake in Steel Dynamics during the 1st quarter worth about $28,000. 83.19% of the stock is owned by institutional investors.
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Steel Dynamics Stock Performance
Shares of Steel Dynamics stock opened at $84.65 on Wednesday. Steel Dynamics, Inc. has a 12 month low of $50.54 and a 12 month high of $100.37. The company has a current ratio of 3.52, a quick ratio of 1.87 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $15.46 billion, a PE ratio of 3.76 and a beta of 1.41. The stock's fifty day simple moving average is $71.98 and its 200 day simple moving average is $75.63.
Steel Dynamics (NASDAQ:STLD – Get Rating) last released its quarterly earnings results on Wednesday, July 20th. The basic materials company reported $6.73 EPS for the quarter, topping analysts' consensus estimates of $6.34 by $0.39. Steel Dynamics had a return on equity of 71.50% and a net
margin of 19.81%. The company had revenue of $6.21 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same quarter last year, the firm posted $3.40 earnings per share. Steel Dynamics's revenue was up 39.1% compared to the same quarter last year. On average, research analysts predict that Steel Dynamics, Inc. will post 21.07 EPS for the current year.
Analyst Upgrades and Downgrades
STLD has been the subject of several analyst reports. JPMorgan Chase & Co. lowered their price target on shares of Steel Dynamics from $129.00 to $110.00 in a research report on Tuesday, June 14th. UBS Group set a $95.00 target price on shares of Steel Dynamics in a report on Monday, June 20th. Morgan Stanley cut their price target on Steel Dynamics from $94.00 to $78.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 6th. The Goldman Sachs Group lowered Steel Dynamics from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $114.00 to $92.00 in a research report on Tuesday, May 31st. Finally, BMO Capital Markets upped their price objective on Steel Dynamics from $95.00 to $104.00 in a report on Friday, April 22nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Steel Dynamics has a consensus rating of "Moderate Buy" and a consensus target price of $89.00.
Insiders Place Their Bets
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 sale, the director now directly owns 724,034 shares of the company's stock, valued at approximately $60,464,079.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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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