Posted by admin on Aug 13th, 2022

Advisor Group Holdings Inc. increased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) by 14.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 37,235 shares of the basic materials company’s stock after buying an additional 4,571 shares during the period. Advisor Group Holdings Inc.’s holdings in Steel Dynamics were worth $2,954,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Riverview Trust Co acquired a new position in shares of Steel Dynamics in the 1st quarter valued at about $28,000. Rational Advisors LLC acquired a new position in shares of Steel Dynamics in the 4th quarter valued at about $25,000. Citizens National Bank Trust Department bought a new stake in Steel Dynamics in the 4th quarter valued at about $25,000. UMB Bank N A MO bought a new stake in Steel Dynamics in the 4th quarter valued at about $27,000. Finally, Allegheny Financial Group LTD bought a new stake in Steel Dynamics in the 4th quarter valued at about $27,000. 83.19% of the stock is owned by institutional investors and hedge funds.

Several analysts recently weighed in on STLD shares. UBS Group set a $95.00 price objective on shares of Steel Dynamics in a research report on Monday, June 20th. BMO Capital Markets lifted their price objective on shares of Steel Dynamics from $95.00 to $104.00 in a research report on Friday, April 22nd. Morgan Stanley cut their price objective 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. JPMorgan Chase & Co. dropped their price target on shares of Steel Dynamics from $129.00 to $110.00 in a research report on Tuesday, June 14th. Finally, The Goldman Sachs Group downgraded shares of Steel Dynamics from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $114.00 to $92.00 in a research report on Tuesday, May 31st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $89.00.

NASDAQ STLD opened at $84.61 on Friday. 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 company’s 50 day simple moving average is $71.98 and its 200 day simple moving average is $75.06. Steel Dynamics, Inc. has a 12 month low of $50.54 and a 12 month high of $100.37. The company has a market capitalization of $15.45 billion, a P/E ratio of 3.76 and a beta of 1.41.

Steel Dynamics (NASDAQ:STLD – Get Rating) last released its 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 net margin of 19.81% and a return on equity of 71.50%. The business had revenue of $6.21 billion for the quarter, compared to the consensus estimate of $5.93 billion. During the same period in the previous year, the firm earned $3.40 EPS. The business’s revenue for the quarter was up 39.1% on a year-over-year basis. Equities research analysts expect that Steel Dynamics, Inc. will post 21.07 earnings per share for the current fiscal year.

In other news, Director Keith E. Busse sold 5,040 shares of Steel Dynamics stock in a transaction that occurred 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 transaction, the director now directly owns 724,034 shares of the company’s stock, valued at $60,464,079.34. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 5.40% of the stock is currently owned by insiders.

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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