Alps Advisors Inc. trimmed its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 18.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,146 shares of the basic materials company’s stock after selling 3,262 shares during the quarter. Alps Advisors Inc.’s holdings in Steel Dynamics were worth $610,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Smithfield Trust Co. grew its holdings in shares of Steel Dynamics by 2,523.1% during the 1st quarter. Smithfield Trust Co. now owns 3,410 shares of the basic materials company’s stock worth $150,000 after purchasing an additional 3,280 shares in the last quarter. First Mercantile Trust Co. boosted its stake in Steel Dynamics by 96.0% in the first quarter. First Mercantile Trust Co. now owns 3,508 shares of the basic materials company’s stock valued at $155,000 after buying an additional 1,718 shares in the last quarter. Mount Yale Investment Advisors LLC acquired a new stake in Steel Dynamics in the first quarter valued at about $188,000. Commerce Bank acquired a new stake in Steel Dynamics in the first quarter valued at about $201,000. Finally, CENTRAL TRUST Co boosted its stake in Steel Dynamics by 6,707.7% in the second quarter. CENTRAL TRUST Co now owns 4,425 shares of the basic materials company’s stock valued at $203,000 after buying an additional 4,360 shares in the last quarter. 82.30% of the stock is currently owned by institutional investors.
In other Steel Dynamics news, Director Jurgen Dr Kolb sold 4,512 shares of the stock in a transaction dated Thursday, June 7th. The stock was sold at an average price of $51.02, for a total value of $230,202.24. Following the completion of the transaction, the director now directly owns 51,693 shares in the company, valued at $2,637,376.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Theresa E. Wagler sold 17,196 shares of the stock in a transaction dated Thursday, May 31st. The shares were sold at an average price of $49.78, for a total value of $856,016.88. Following the completion of the transaction, the insider now owns 331,381 shares of the company’s stock, valued at $16,496,146.18. The disclosure for this sale can be found here. Insiders sold 25,298 shares of company stock valued at $1,266,868 over the last quarter. Corporate insiders own 4.40% of the company’s stock.
Steel Dynamics stock opened at $43.73 on Monday. The company has a quick ratio of 1.92, a current ratio of 3.61 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $10.29 billion, a price-to-earnings ratio of 16.50, a PEG ratio of 0.67 and a beta of 1.34. Steel Dynamics, Inc. has a 12 month low of $32.20 and a 12 month high of $52.10.
Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Monday, July 23rd. The basic materials company reported $1.53 EPS for the quarter, beating the consensus estimate of $1.49 by $0.04. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $2.91 billion. Steel Dynamics had a return on equity of 26.90% and a net margin of 10.01%. The business’s quarterly revenue was up 29.3% on a year-over-year basis. During the same period last year, the company earned $0.63 earnings per share. research analysts anticipate that Steel Dynamics, Inc. will post 5.45 EPS for the current year.
STLD has been the topic of several research analyst reports. Citigroup raised their price objective on Steel Dynamics from $54.00 to $55.00 and gave the company a “buy” rating in a research note on Tuesday, April 24th. ValuEngine lowered Steel Dynamics from a “buy” rating to a “hold” rating in a research note on Wednesday, May 2nd. BidaskClub lowered Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, May 2nd. Finally, Zacks Investment Research lowered Steel Dynamics from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $52.62.
Steel Dynamics Profile
Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. The company operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment provides hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; merchant bar products, including angles, merchant rounds, flats, channels, and reinforcing bars; beams, channels, and specialty steel sections; and threaded rod products, and cold drawn and heat treated bars.
Further Reading: Fundamental Analysis and Individual Investors
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