SPC Financial Inc. Trims Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

SPC Financial Inc. trimmed its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 1.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,626 shares of the basic materials company’s stock after selling 178 shares during the quarter. SPC Financial Inc.’s holdings in Steel Dynamics were worth $1,506,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Larson Financial Group LLC purchased a new position in Steel Dynamics in the first quarter worth approximately $25,000. LifeSteps Financial Inc. acquired a new stake in shares of Steel Dynamics during the 1st quarter worth about $26,000. Security National Bank acquired a new position in Steel Dynamics in the fourth quarter valued at about $30,000. Innealta Capital LLC acquired a new stake in shares of Steel Dynamics during the second quarter valued at about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Steel Dynamics during the 2nd quarter worth approximately $41,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have weighed in on STLD shares. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their target price for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. BMO Capital Markets cut their target price on shares of Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating on the stock in a research note on Tuesday, September 17th. Morgan Stanley decreased their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. Bank of America lowered their price target on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. raised Steel Dynamics from an “underweight” rating to a “neutral” rating and increased their target price for the company from $120.00 to $131.00 in a report on Monday, September 9th. Six analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $141.29.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $126.08 on Tuesday. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.35 and a quick ratio of 1.19. The company has a market cap of $19.81 billion, a PE ratio of 8.66 and a beta of 1.32. The stock has a fifty day moving average price of $119.44 and a 200 day moving average price of $128.69. Steel Dynamics, Inc. has a 1-year low of $98.25 and a 1-year high of $151.34.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.67 by $0.05. The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The business’s revenue was down 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $4.81 EPS. Sell-side analysts forecast that Steel Dynamics, Inc. will post 10.32 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be issued a $0.46 dividend. The ex-dividend date is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.46%. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.64%.

Steel Dynamics Company 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.