Townsquare Capital LLC Purchases 7,254 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Key Points

• Townsquare Capital LLC increased its stake in Steel Dynamics, acquiring an additional 7,254 shares, resulting in a total ownership of 9,384 shares valued at approximately $1,174,000.
• Insider transactions included significant sales from senior vice presidents, with 12,000 shares sold by Christopher A. Graham and 7,495 shares sold by Miguel Alvarez, reducing their ownership stakes.
• Despite a missed earnings estimate for the latest quarter, analysts maintain a generally positive outlook, with Steel Dynamics’ average rating being a "Moderate Buy" and a consensus target price of $149.33.

Townsquare Capital LLC lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 340.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,384 shares of the basic materials company's stock after buying an additional 7,254 shares during the quarter. Townsquare Capital LLC's holdings in Steel Dynamics were worth $1,174,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in STLD. Financial Gravity Asset Management Inc. bought a new position in shares of Steel Dynamics during the 1st quarter worth $25,000. Cary Street Partners Investment Advisory LLC grew its position in shares of Steel Dynamics by 493.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company's stock worth $25,000 after buying an additional 163 shares in the last quarter. Grove Bank & Trust grew its position in shares of Steel Dynamics by 194.7% during the 1st quarter. Grove Bank & Trust now owns 277 shares of the basic materials company's stock worth $35,000 after buying an additional 183 shares in the last quarter. Wayfinding Financial LLC bought a new position in shares of Steel Dynamics during the 1st quarter worth $36,000. Finally, Bartlett & CO. Wealth Management LLC bought a new position in shares of Steel Dynamics during the 1st quarter worth $38,000. Institutional investors own 82.41% of the company's stock.

Insider Transactions at Steel Dynamics

In other news, SVP Christopher A. Graham sold 12,000 shares of the firm's stock in a transaction dated 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 $8,456,371.98. This trade represents a 15.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Miguel Alvarez sold 7,495 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $135.26, for a total value of $1,013,773.70. Following the completion of the transaction, the senior vice president owned 125,319 shares of the company's stock, valued at approximately $16,950,647.94. The trade was a 5.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 20,749 shares of company stock worth $2,702,468 over the last three months. 6.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on STLD. Wells Fargo & Company began coverage on Steel Dynamics in a research report on Wednesday. They set an "overweight" rating on the stock. Wall Street Zen downgraded Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Finally, Morgan Stanley raised their price objective on Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $149.33.

Steel Dynamics Trading Up 2.9%

Steel Dynamics stock opened at $129.24 on Thursday. The stock has a 50-day moving average of $129.86 and a two-hundred day moving average of $128.21. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.13. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $155.56. The stock has a market cap of $19.03 billion, a PE ratio of 18.84, a price-to-earnings-growth ratio of 1.02 and a beta of 1.38.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released 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 net margin of 6.07% and a return on equity of 11.88%. The business had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter last year, the business posted $2.72 earnings per share. The company's quarterly revenue was down 1.5% compared to the same quarter last year. On average, research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

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.

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