Banque Cantonale Vaudoise Purchases Shares of 19,306 Steel Dynamics, Inc. (NASDAQ:STLD)

Key Points

• Banque Cantonale Vaudoise acquired 19,306 shares of Steel Dynamics, Inc., valued at approximately $2.41 million, during the first quarter.
• Steel Dynamics reported a net margin of 6.07% and a quarterly revenue of $4.57 billion, missing analyst estimates.
• Analysts have mixed views on the stock, with eight buy ratings and a price target averaging $149.33, while Wall Street Zen downgraded it to a "sell" rating.

Banque Cantonale Vaudoise purchased a new stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 19,306 shares of the basic materials company's stock, valued at approximately $2,414,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in STLD. Ritholtz Wealth Management raised its position in shares of Steel Dynamics by 24.4% during the first quarter. Ritholtz Wealth Management now owns 6,687 shares of the basic materials company's stock valued at $836,000 after buying an additional 1,310 shares during the last quarter. Farther Finance Advisors LLC lifted its stake in Steel Dynamics by 10.4% during the first quarter. Farther Finance Advisors LLC now owns 1,535 shares of the basic materials company's stock worth $190,000 after purchasing an additional 145 shares during the period. Orion Portfolio Solutions LLC lifted its stake in Steel Dynamics by 63.4% during the fourth quarter. Orion Portfolio Solutions LLC now owns 7,354 shares of the basic materials company's stock worth $839,000 after purchasing an additional 2,854 shares during the period. Wealth Enhancement Advisory Services LLC lifted its stake in Steel Dynamics by 31.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,511 shares of the basic materials company's stock worth $3,441,000 after purchasing an additional 6,604 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Steel Dynamics during the fourth quarter worth about $16,495,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, SVP Miguel Alvarez sold 7,495 shares of Steel Dynamics stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the transaction, the senior vice president directly owned 125,319 shares of the company's stock, valued at $16,950,647.94. This trade represents a 5.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Gabriel Shaheen sold 1,254 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $134.11, for a total value of $168,173.94. Following the completion of the transaction, the director directly owned 81,812 shares of the company's stock, valued at approximately $10,971,807.32. The trade was a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.30% of the company's stock.

Steel Dynamics Trading Down 0.0%

STLD stock traded down $0.06 during midday trading on Wednesday, reaching $127.45. The stock had a trading volume of 1,247,007 shares, compared to its average volume of 1,205,139. The business has a fifty day simple moving average of $130.90 and a two-hundred day simple moving average of $128.22. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43. The firm has a market cap of $18.92 billion, a price-to-earnings ratio of 18.58, a PEG ratio of 1.03 and a beta of 1.37. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.04). Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The company had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the previous year, the company posted $2.72 EPS. The company's quarterly revenue was down 1.5% compared to the same quarter last year. As a group, research analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on STLD. JPMorgan Chase & Co. raised their price target on shares of Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Morgan Stanley upped their price target on shares of Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. Finally, Wall Street Zen downgraded shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Steel Dynamics has an average rating of "Moderate Buy" and an average price target of $149.33.

Steel Dynamics 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.