Dixon Hubard Feinour & Brown Inc. VA lessened its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 2.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 39,483 shares of the basic materials company’s stock after selling 1,175 shares during the quarter. Dixon Hubard Feinour & Brown Inc. VA’s holdings in Steel Dynamics were worth $1,393,000 at the end of the most recent reporting period.
Other large investors also recently made changes to their positions in the company. Parallel Advisors LLC purchased a new position in shares of Steel Dynamics in the 1st quarter worth $27,000. Ffcm LLC raised its position in shares of Steel Dynamics by 59.3% in the 4th quarter. Ffcm LLC now owns 924 shares of the basic materials company’s stock worth $28,000 after buying an additional 344 shares during the period. SRS Capital Advisors Inc. raised its position in shares of Steel Dynamics by 183.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,126 shares of the basic materials company’s stock worth $34,000 after buying an additional 729 shares during the period. JOYN Advisors Inc. raised its position in shares of Steel Dynamics by 34.7% in the 4th quarter. JOYN Advisors Inc. now owns 1,164 shares of the basic materials company’s stock worth $35,000 after buying an additional 300 shares during the period. Finally, Aspire Private Capital LLC purchased a new position in shares of Steel Dynamics in the 4th quarter worth $37,000. Hedge funds and other institutional investors own 81.24% of the company’s stock.
NASDAQ:STLD opened at $26.43 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.15 and a current ratio of 4.02. Steel Dynamics, Inc. has a 12 month low of $25.02 and a 12 month high of $49.70. The stock has a market capitalization of $5.87 billion, a price-to-earnings ratio of 4.81, a P/E/G ratio of 0.63 and a beta of 1.46.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Monday, April 22nd. The basic materials company reported $0.91 EPS for the quarter, meeting the consensus estimate of $0.91. Steel Dynamics had a return on equity of 33.56% and a net margin of 10.26%. The company had revenue of $2.82 billion for the quarter, compared to analyst estimates of $2.80 billion. During the same period last year, the company posted $0.96 earnings per share. The firm’s revenue was up 8.2% compared to the same quarter last year. Equities research analysts anticipate that Steel Dynamics, Inc. will post 3.5 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Sunday, June 30th will be given a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 3.63%. The ex-dividend date of this dividend is Thursday, June 27th. Steel Dynamics’s dividend payout ratio (DPR) is presently 17.49%.
Several brokerages recently weighed in on STLD. BidaskClub lowered Steel Dynamics from a “sell” rating to a “strong sell” rating in a research report on Tuesday, May 21st. Bank of America reaffirmed a “buy” rating and issued a $40.00 target price on shares of Steel Dynamics in a research report on Friday, May 31st. Zacks Investment Research raised Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Citigroup set a $34.00 target price on Steel Dynamics and gave the stock a “buy” rating in a research report on Tuesday, June 11th. Finally, Goldman Sachs Group set a $44.00 target price on Steel Dynamics and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $42.54.
In related news, insider Russell B. Rinn acquired 2,000 shares of the business’s stock in a transaction on Friday, May 31st. The shares were bought at an average cost of $25.58 per share, with a total value of $51,160.00. Following the completion of the transaction, the insider now directly owns 220,459 shares of the company’s stock, valued at approximately $5,639,341.22. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Glenn Pushis bought 5,740 shares of the stock in a transaction dated Wednesday, June 5th. The shares were acquired at an average price of $26.13 per share, with a total value of $149,986.20. Following the completion of the purchase, the insider now directly owns 91,289 shares of the company’s stock, valued at $2,385,381.57. The disclosure for this purchase can be found here. Insiders acquired 12,740 shares of company stock worth $336,296 over the last three months. 4.90% of the stock is currently owned by corporate insiders.
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About Steel Dynamics
Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. 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; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.
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