Meeder Asset Management Inc. decreased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 88.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,551 shares of the basic materials company's stock after selling 27,322 shares during the quarter. Meeder Asset Management Inc.'s holdings in Steel Dynamics were worth $639,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Prosperity Bancshares Inc acquired a new position in Steel Dynamics in the 4th quarter valued at about $25,000. MV Capital Management Inc. purchased a new stake in shares of Steel Dynamics in the 4th quarter valued at approximately $27,000. Sound Income Strategies LLC increased its holdings in shares of Steel Dynamics by 1,500.0% during the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company's stock worth $28,000 after buying an additional 150 shares during the last quarter. Cedar Mountain Advisors LLC acquired a new stake in shares of Steel Dynamics during the 1st quarter worth approximately $31,000. Finally, DV Equities LLC purchased a new stake in shares of Steel Dynamics during the 4th quarter valued at approximately $33,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling
In related news, SVP Miguel Alvarez sold 4,825 shares of the company's stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the sale, the senior vice president directly owned 122,257 shares in the company, valued at approximately $27,578,734.06. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Richard A. Poinsatte sold 2,300 shares of the firm's stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the completion of the sale, the senior vice president directly owned 28,618 shares in the company, valued at approximately $6,699,759.98. This trade represents a 7.44% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 22,125 shares of company stock worth $5,438,226. 6.60% of the stock is owned by corporate insiders.
Key Steel Dynamics News
Here are the key news stories impacting Steel Dynamics this week:
- Positive Sentiment: Steel Dynamics reported second-quarter earnings of $3.69-$3.80 per share, topping analyst estimates and more than doubling year-ago profit, helped by record steel shipments, improved steel pricing, and strong domestic demand. Article Title
- Positive Sentiment: The company generated $6.1 billion in net sales, $700 million in operating income, $921 million in adjusted EBITDA, and $428 million in operating cash flow, while also buying back $200 million of its own shares. Article Title
- Neutral Sentiment: Management said it expects strong U.S. steel and aluminum consumption to continue through the rest of 2026, which supports the longer-term outlook but did not prevent near-term trading caution. Article Title
- Negative Sentiment: Some investors are focusing on a non-cash impairment tied to shifting an aluminum project, along with ongoing startup losses in aluminum and softer profitability in steel fabrication, which may be fueling caution despite the strong quarter. Article Title
Analysts Set New Price Targets
Several equities research analysts have issued reports on STLD shares. Morgan Stanley raised their target price on Steel Dynamics from $227.00 to $270.00 and gave the stock an "equal weight" rating in a research note on Monday, June 22nd. KeyCorp increased their price target on Steel Dynamics from $241.00 to $262.00 and gave the stock an "overweight" rating in a report on Wednesday, June 24th. Barclays began coverage on Steel Dynamics in a research report on Thursday, May 21st. They set an "overweight" rating and a $270.00 price objective for the company. Bank of America reduced their price objective on shares of Steel Dynamics from $280.00 to $260.00 and set a "neutral" rating on the stock in a report on Thursday, July 9th. Finally, Citigroup upped their target price on shares of Steel Dynamics from $180.00 to $255.00 and gave the company a "buy" rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, Steel Dynamics has an average rating of "Moderate Buy" and a consensus price target of $239.18.
Check Out Our Latest Stock Report on STLD
Steel Dynamics Stock Performance
NASDAQ:STLD opened at $230.49 on Tuesday. Steel Dynamics, Inc. has a 52 week low of $119.89 and a 52 week high of $288.74. The company has a fifty day simple moving average of $245.84 and a two-hundred day simple moving average of $209.47. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. The company has a market cap of $33.36 billion, a price-to-earnings ratio of 24.65, a price-to-earnings-growth ratio of 0.45 and a beta of 1.53.
Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings data on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.39 billion. Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The firm's revenue was up 19.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.44 earnings per share. As a group, equities analysts anticipate that Steel Dynamics, Inc. will post 16.92 earnings per share for the current fiscal year.
Steel Dynamics Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were given a $0.53 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. Steel Dynamics's dividend payout ratio (DPR) is currently 22.67%.
Steel Dynamics Profile
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Free Report)
Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.
The company's product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.
See Also
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