Aberdeen Group plc Grows Stock Holdings in Steel Dynamics, Inc. $STLD

Key Points

Error: Response status code does not indicate success: 429 (Too Many Requests).

Aberdeen Group plc raised its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 22.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 157,245 shares of the basic materials company's stock after purchasing an additional 28,546 shares during the quarter. Aberdeen Group plc owned approximately 0.10% of Steel Dynamics worth $19,432,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Financial Gravity Asset Management Inc. purchased a new stake in Steel Dynamics in the 1st quarter worth approximately $25,000. Cary Street Partners Investment Advisory LLC boosted its stake in Steel Dynamics by 493.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company's stock valued at $25,000 after buying an additional 163 shares during the period. Zions Bancorporation National Association UT purchased a new position in Steel Dynamics during the first quarter worth about $32,000. Grove Bank & Trust increased its position in shares of Steel Dynamics by 194.7% in the first quarter. Grove Bank & Trust now owns 277 shares of the basic materials company's stock worth $35,000 after purchasing an additional 183 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new stake in shares of Steel Dynamics during the 1st quarter worth $36,000. 82.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

STLD has been the topic of a number of recent research reports. JPMorgan Chase & Co. increased their price target on shares of Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Wells Fargo & Company raised Steel Dynamics to a "strong-buy" rating in a research note on Thursday, August 14th. Wall Street Zen cut Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Finally, Morgan Stanley lifted their price target on Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $148.70.

Insider Buying and Selling

In other news, Director Gabriel Shaheen sold 1,254 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $134.11, for a total value of $168,173.94. Following the completion of the sale, the director directly owned 81,812 shares in the company, valued at $10,971,807.32. This represents a 1.51% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Christopher A. Graham sold 12,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total value of $1,520,520.00. Following the completion of the transaction, the senior vice president directly owned 66,738 shares in the company, valued at approximately $8,456,371.98. This represents a 15.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.30% of the company's stock.

Steel Dynamics Stock Up 4.8%

Shares of STLD stock traded up $5.9990 during midday trading on Friday, reaching $131.7590. 1,685,150 shares of the stock were exchanged, compared to its average volume of 1,619,143. The firm has a market cap of $19.40 billion, a PE ratio of 19.20, a price-to-earnings-growth ratio of 1.01 and a beta of 1.38. The company's 50 day moving average is $129.14 and its two-hundred day moving average is $128.16. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $155.56. The company has a current ratio of 3.13, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its earnings results on Monday, July 21st. The basic materials company reported $2.01 EPS for the quarter, missing analysts' consensus estimates of $2.05 by ($0.04). The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.82 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The business's quarterly revenue was down 1.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.72 EPS. On average, equities research analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be given a dividend of $0.50 per share. The ex-dividend date is Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.5%. Steel Dynamics's dividend payout ratio is 29.15%.

About Steel Dynamics

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.