Regal Investment Advisors LLC bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating ) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 2,900 shares of the basic materials company’s stock, valued at approximately $242,000.
Several other large investors have also recently bought and sold shares of the stock. Venture Visionary Partners LLC boosted its position in Steel Dynamics by 1.1% in the first quarter. Venture Visionary Partners LLC now owns 11,840 shares of the basic materials company’s stock valued at $987,000 after buying an additional 132 shares in the last quarter. Paragon Capital Management Ltd boosted its position in Steel Dynamics by 3.6% in the first quarter. Paragon Capital Management Ltd now owns 3,932 shares of the basic materials company’s stock valued at $328,000 after purchasing an additional 138 shares during the last quarter. Eagle Asset Management Inc. grew its position in Steel Dynamics by 0.5% in the 4th quarter. Eagle Asset Management Inc. now owns 37,183 shares of the basic materials company’s stock valued at $2,300,000 after purchasing an additional 175 shares in the last quarter. Delphi Management Inc. MA increased its position in Steel Dynamics by 1.3% during the 4th quarter. Delphi Management Inc. MA now owns 17,338 shares of the basic materials company’s stock valued at $1,076,000 after buying an additional 220 shares during the last quarter. Finally, Harel Insurance Investments & Financial Services Ltd. increased its position in Steel Dynamics by 52.6% in the 4th quarter. Harel Insurance Investments & Financial Services Ltd. now owns 653 shares of the basic materials company’s stock valued at $40,000 after buying an additional 225 shares during the last quarter. Hedge funds and other institutional investors own 83.19% of the company’s shares.
Steel Dynamics Stock Performance
STLD opened at $78.78 on Monday. 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 firm has a fifty day moving average price of $72.26 and a 200 day moving average price of $74.36. Steel Dynamics, Inc. it has a 1-year low of $50.54 and a 1-year high of $100.37. The stock has a market cap of $14.39 billion, a P/E ratio of 3.50 and a beta of 1.41.
Steel Dynamics (NASDAQ:STLD – Get Rating ) last posted its earnings results on Wednesday, July 20th. The basic materials company reported $6.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.34 by $0.39. Steel Dynamics had a net margin of 19.81% and a return on equity of 71.50%. The firm had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $5.93 billion. During the same period in the previous year, the business reported $3.40 EPS. The business’s revenue was up 39.1% compared to the same quarter last year. Equities research analysts expect that Steel Dynamics, Inc. will report 21.07 earnings per share for the current year.
Analysts set new price targets
Several analysts have weighed in on STLD shares. Morgan Stanley reduced their target price 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. UBS Group set a $95.00 target price on shares of Steel Dynamics in a research note on Monday, June 20th. JPMorgan Chase & Co. reduced their price objective on shares of Steel Dynamics from $129.00 to $110.00 in a research note on Tuesday, June 14th. BMO Capital Markets boosted their price objective on shares of Steel Dynamics from $95.00 to $104.00 in a research note on Friday, April 22nd. Finally, The Goldman Sachs Group lowered shares of Steel Dynamics from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $114.00 to $92.00 in a research note on Tuesday, May 31st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company. The company currently has a consensus rating of “Moderate Buy” and a consensus target price of $89.00, according to MarketBeat.com.
Internal work at Steel Dynamics
In related news, Director Keith E. Busse sold 5,040 shares of the business’s stock in a transaction 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 completion of the transaction, the director now directly owns 724,034 shares in the company, valued at approximately $60,464,079.34. The transaction was disclosed in a document filed with the SEC, which is available through the SEC’s website. Company insiders own 5.40% of the company’s shares.
Steel Dynamics Profile
Steel Dynamics, Inc., together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates in three segments: steel operations, metal recycling operations and steel manufacturing operations. The Steel Operations segment offers hot-rolled, cold-rolled and coated steel products; parallel flange beams and channel sections, flat bars, large uneven leg angles and reinforcing bars, as well as standard strength carbon, intermediate hardness alloys and premium grade rail products; and designed special bar quality products, commercial bar quality products and other designed round steel bars.
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