Los Angeles Capital Management LLC bought a new position in Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 72,273 shares of the basic materials company's stock, valued at approximately $6,030,000.
Other large investors have also added to or reduced their stakes in the company. Riverview Trust Co purchased a new stake in shares of Steel Dynamics during the first quarter worth about $28,000. Rational Advisors LLC purchased a new stake in shares of Steel Dynamics during the fourth quarter worth about $25,000. Citizens National Bank Trust Department purchased a new stake in shares of Steel Dynamics during the fourth quarter worth about $25,000. UMB Bank N A MO purchased a new stake in shares of Steel Dynamics during the fourth quarter worth about $27,000. Finally, Allegheny Financial Group LTD purchased a new stake in shares of Steel Dynamics during the fourth quarter worth about $27,000. 83.19% of the stock is currently owned by institutional investors.
Get Steel Dynamics alerts:Steel Dynamics Trading Up 1.7 %
Steel Dynamics stock opened at $78.78 on Monday. The company has a current ratio of 3.52, a quick ratio of 1.87 and a debt-to-equity ratio of 0.41. Steel Dynamics, Inc. has a 12 month low of $50.54 and a 12 month high of $100.37. The stock's 50 day simple moving average is $72.26 and its two-hundred day simple moving average is $74.36. The firm has a market cap of $14.39 billion, a PE ratio of 3.50 and a beta of 1.41.
Steel Dynamics (NASDAQ:STLD – Get Rating) last released its quarterly earnings data on Wednesday, July 20th. The basic materials company reported $6.73 EPS for the quarter, topping the consensus estimate of $6.34 by $0.39. Steel Dynamics had a return on equity of 71.50% and a net margin of 19.81%. The business had revenue of $6.21 billion for the quarter, compared to analyst estimates of $5.93 billion. During the same quarter in the prior year, the firm posted $3.40 EPS. The business's quarterly revenue was up 39.1% compared to the same quarter last year. Analysts anticipate that Steel Dynamics, Inc. will post 21.07 earnings per share for the current year.Analysts Set New Price Targets
A number of equities research analysts have recently weighed in on STLD shares. JPMorgan Chase & Co. dropped their price target on Steel Dynamics from $129.00 to $110.00 in a research note on Tuesday, June 14th. UBS Group set a $95.00 target price on Steel Dynamics in a research report on Monday, June 20th. BMO Capital Markets upped their target price on Steel Dynamics from $95.00 to $104.00 in a research report on Friday, April 22nd. Morgan Stanley dropped their target price on 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. Finally, The Goldman Sachs Group lowered Steel Dynamics from a "buy" rating to a "neutral" rating and dropped their target price for the company from $114.00 to $92.00 in a research report on Tuesday, May 31st. One 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. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $89.00.
Insiders Place Their Bets
In other Steel Dynamics news, Director Keith E. Busse sold 5,040 shares of the company's stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $83.51, for a total value of $420,890.40. Following the sale, the director now owns 724,034 shares in the company, valued at approximately $60,464,079.34. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 5.40% of the company's stock.
Steel Dynamics Company 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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