Vanguard Group Inc. decreased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 3.8% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 17,582,172 shares of the basic materials company's stock after selling 699,949 shares during the quarter. Vanguard Group Inc. owned approximately 11.73% of Steel Dynamics worth $2,199,178,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Financial Gravity Asset Management Inc. purchased a new stake in shares of Steel Dynamics in the 1st quarter valued at about $25,000. Cary Street Partners Investment Advisory LLC increased its stake in shares of 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. Grove Bank & Trust raised its holdings in shares of Steel Dynamics by 194.7% during the first quarter. Grove Bank & Trust now owns 277 shares of the basic materials company's stock valued at $35,000 after acquiring an additional 183 shares in the last quarter. Wayfinding Financial LLC bought a new position in shares of Steel Dynamics during the first quarter valued at approximately $36,000. Finally, Bartlett & CO. Wealth Management LLC bought a new position in shares of Steel Dynamics during the first quarter valued at approximately $38,000. Institutional investors own 82.41% of the company's stock.
Steel Dynamics Stock Performance
Shares of Steel Dynamics stock traded down $2.78 during trading on Thursday, hitting $126.46. 313,314 shares of the company's stock traded hands, compared to its average volume of 1,626,014. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.13 and a quick ratio of 1.34. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $155.56. The stock has a market capitalization of $18.62 billion, a P/E ratio of 18.43, a PEG ratio of 1.02 and a beta of 1.38. The business has a 50-day simple moving average of $129.86 and a 200-day simple moving average of $128.21.
Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings data on Monday, July 21st. The basic materials company reported $2.01 EPS 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 business had revenue of $4.57 billion for the quarter, compared to analysts' expectations of $4.82 billion. During the same period last year, the business earned $2.72 earnings per share. The company's quarterly revenue was down 1.5% on a year-over-year basis. As a group, analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.
Insiders Place Their Bets
In other Steel Dynamics news, 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 transaction, the senior vice president directly owned 125,319 shares of the company's stock, valued at approximately $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 accessible through this hyperlink. Also, Director Gabriel Shaheen sold 1,254 shares of the firm's stock in a transaction dated 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 transaction, the director directly owned 81,812 shares in the company, valued at $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. Over the last three months, insiders have sold 20,749 shares of company stock valued at $2,702,468. Insiders own 6.30% of the company's stock.
Analyst Ratings Changes
A number of equities analysts have issued reports on STLD shares. JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a report on Monday, July 14th. Morgan Stanley increased their price objective on Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Wells Fargo & Company started coverage on Steel Dynamics in a report on Wednesday. They issued an "overweight" rating and a $143.00 price objective for the company. Finally, Wall Street Zen downgraded Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $148.70.
View Our Latest Stock Report on STLD
Steel Dynamics Profile
(
Free Report)
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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