4,404 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Bought by Thoroughbred Financial Services LLC

Thoroughbred Financial Services LLC bought a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,404 shares of the basic materials company’s stock, valued at approximately $570,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in STLD. Federated Hermes Inc. grew its holdings in Steel Dynamics by 8.1% during the second quarter. Federated Hermes Inc. now owns 48,498 shares of the basic materials company’s stock valued at $6,280,000 after purchasing an additional 3,631 shares during the last quarter. Meeder Advisory Services Inc. grew its stake in Steel Dynamics by 28.0% in the 2nd quarter. Meeder Advisory Services Inc. now owns 2,222 shares of the basic materials company’s stock valued at $288,000 after buying an additional 486 shares during the last quarter. DekaBank Deutsche Girozentrale raised its holdings in Steel Dynamics by 2.8% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 149,805 shares of the basic materials company’s stock worth $18,613,000 after acquiring an additional 4,088 shares during the period. Vest Financial LLC lifted its position in Steel Dynamics by 37.2% during the 2nd quarter. Vest Financial LLC now owns 182,827 shares of the basic materials company’s stock worth $23,676,000 after acquiring an additional 49,612 shares during the last quarter. Finally, Wambolt & Associates LLC grew its position in shares of Steel Dynamics by 9.0% in the second quarter. Wambolt & Associates LLC now owns 19,233 shares of the basic materials company’s stock valued at $2,484,000 after purchasing an additional 1,583 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Trading Down 1.6 %

Shares of STLD opened at $111.01 on Tuesday. The stock has a fifty day moving average price of $120.93 and a two-hundred day moving average price of $129.38. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. Steel Dynamics, Inc. has a 52-week low of $95.53 and a 52-week high of $151.34. The company has a market cap of $17.44 billion, a price-to-earnings ratio of 7.62 and a beta of 1.32.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the prior year, the firm earned $4.81 EPS. The company’s revenue was down 8.8% on a year-over-year basis. Analysts predict that Steel Dynamics, Inc. will post 10.81 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.66%. The ex-dividend date is Monday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.64%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. JPMorgan Chase & Co. upgraded Steel Dynamics from an “underweight” rating to a “neutral” rating and upped their price target for the stock from $120.00 to $131.00 in a report on Monday, September 9th. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. BMO Capital Markets cut their target price on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a research note on Tuesday, June 18th. Jefferies Financial Group initiated coverage on shares of Steel Dynamics in a research note on Monday, May 20th. They set a “hold” rating and a $150.00 price target on the stock. Finally, Morgan Stanley increased their price objective on shares of Steel Dynamics from $134.00 to $138.00 and gave the company an “equal weight” rating in a research note on Thursday, August 15th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to MarketBeat, Steel Dynamics presently has a consensus rating of “Hold” and a consensus target price of $143.43.

Steel Dynamics Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.