Cwm LLC Raises Stock Holdings in Steel Dynamics, Inc. $STLD

Key Points

• Cwm LLC significantly increased its stake in Steel Dynamics, Inc. by 176.0% during the second quarter, holding nearly 23,000 shares valued at approximately $2.94 million at the end of the reporting period.
• Steel Dynamics reported its quarterly earnings on July 21, showing an EPS of $2.01, which slightly missed analysts' expectations, along with a 1.5% decline in revenue year-over-year.
• The company announced a quarterly dividend of $0.50, translating to an annualized dividend of $2.00, with a yield of 1.4%.

Cwm LLC boosted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 176.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 22,994 shares of the basic materials company's stock after purchasing an additional 14,664 shares during the period. Cwm LLC's holdings in Steel Dynamics were worth $2,943,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Harbour Capital Advisors LLC raised its stake in Steel Dynamics by 0.5% during the second quarter. Harbour Capital Advisors LLC now owns 14,828 shares of the basic materials company's stock valued at $1,988,000 after buying an additional 80 shares in the last quarter. Hemington Wealth Management grew its holdings in Steel Dynamics by 35.9% in the 1st quarter. Hemington Wealth Management now owns 318 shares of the basic materials company's stock worth $39,000 after buying an additional 84 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in Steel Dynamics by 1.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,803 shares of the basic materials company's stock worth $726,000 after buying an additional 91 shares in the last quarter. Sunbelt Securities Inc. grew its holdings in Steel Dynamics by 25.0% in the 1st quarter. Sunbelt Securities Inc. now owns 500 shares of the basic materials company's stock worth $63,000 after buying an additional 100 shares in the last quarter. Finally, Blair William & Co. IL grew its holdings in Steel Dynamics by 5.8% in the 2nd quarter. Blair William & Co. IL now owns 1,813 shares of the basic materials company's stock worth $232,000 after buying an additional 100 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company's stock.

Insider Activity

In other news, SVP Christopher A. Graham sold 12,000 shares of Steel Dynamics stock in a transaction that occurred on Wednesday, July 30th. The shares were 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 owned 66,738 shares in the company, valued at approximately $8,456,371.98. The trade was a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 6.30% of the company's stock.

Steel Dynamics Stock Up 0.1%

STLD stock opened at $142.75 on Friday. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56. The company has a market cap of $21.01 billion, a PE ratio of 20.81, a price-to-earnings-growth ratio of 1.16 and a beta of 1.40. The business's 50-day simple moving average is $135.49 and its 200 day simple moving average is $130.57. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly 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). Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%.The business had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the prior year, the business earned $2.72 EPS. The firm's revenue for the quarter was down 1.5% on a year-over-year basis. On average, research analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were paid a $0.50 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. Steel Dynamics's payout ratio is 29.15%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on STLD shares. Morgan Stanley increased their price target on Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. Wells Fargo & Company increased their price objective on Steel Dynamics from $143.00 to $150.00 and gave the stock an "overweight" rating in a report on Monday, September 15th. JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $150.00 to $160.00 and gave the stock a "neutral" rating in a report on Monday, October 13th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Steel Dynamics in a report on Wednesday, October 8th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $149.89.

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.

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