Steel Dynamics, Inc. $STLD Shares Bought by 111 Capital

111 Capital boosted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 366.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 10,023 shares of the basic materials company’s stock after purchasing an additional 7,873 shares during the period. 111 Capital’s holdings in Steel Dynamics were worth $1,283,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of STLD. Financial Gravity Asset Management Inc. acquired a new stake in Steel Dynamics during the first quarter worth about $25,000. Cary Street Partners Investment Advisory LLC grew its stake 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 purchasing an additional 163 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Steel Dynamics during the 1st quarter worth approximately $32,000. WPG Advisers LLC acquired a new stake in Steel Dynamics during the first quarter valued at $32,000. Finally, Grove Bank & Trust grew its position in 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 buying an additional 183 shares during the period. 82.41% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently commented on STLD. Morgan Stanley raised their price target on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, June 20th. Wells Fargo & Company raised their target price on Steel Dynamics from $143.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. Weiss Ratings reissued a “hold (c)” rating on shares of Steel Dynamics in a report on Saturday, September 27th. Finally, 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 report on Monday, July 14th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $148.78.

Insider Transactions at Steel Dynamics

In related news, SVP Christopher A. Graham sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the transaction, the senior vice president directly 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 can be accessed through the SEC website. 6.30% of the stock is currently owned by company insiders.

Steel Dynamics Trading Up 0.5%

STLD stock opened at $145.09 on Friday. 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, Inc. has a 12-month low of $103.17 and a 12-month high of $155.56. The stock has a market cap of $21.36 billion, a price-to-earnings ratio of 21.15, a PEG ratio of 1.17 and a beta of 1.40. The business’s 50-day moving average is $131.56 and its 200 day moving average is $129.32.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.04). The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.82 billion. Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%.The business’s revenue was down 1.5% on a year-over-year basis. During the same period in the prior year, the firm earned $2.72 earnings per share. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Steel Dynamics’s payout ratio is 29.15%.

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.