SPC Financial Inc. Buys 285 Shares of Steel Dynamics, Inc. $STLD

SPC Financial Inc. increased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 2.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,443 shares of the basic materials company’s stock after purchasing an additional 285 shares during the period. SPC Financial Inc.’s holdings in Steel Dynamics were worth $1,465,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. acquired a new position in Steel Dynamics in the first quarter worth about $25,000. Cary Street Partners Investment Advisory LLC raised its position in Steel Dynamics by 493.9% in the first 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 in the last quarter. Trust Co. of Toledo NA OH acquired a new position in Steel Dynamics in the second quarter worth about $30,000. Zions Bancorporation National Association UT acquired a new position in Steel Dynamics in the first quarter worth about $32,000. Finally, WPG Advisers LLC acquired a new position in Steel Dynamics in the first quarter worth about $32,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $141.23 on Friday. The firm has a market cap of $20.79 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 1.15 and a beta of 1.40. The company has a 50 day moving average of $133.25 and a 200-day moving average of $129.93. 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 1-year low of $103.17 and a 1-year high of $155.56.

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

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were issued a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.4%. Steel Dynamics’s dividend payout ratio (DPR) is currently 29.15%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on STLD. Weiss Ratings reissued a “hold (c)” rating on shares of Steel Dynamics in a research report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $138.00 to $150.00 and gave the stock a “neutral” rating in a report on Monday, July 14th. Morgan Stanley raised their price objective on shares of Steel Dynamics from $140.00 to $145.00 and gave the stock an “overweight” rating in a report on Friday, June 20th. Finally, Wells Fargo & Company raised their price objective on shares of Steel Dynamics from $143.00 to $150.00 and gave the stock an “overweight” rating in a report on Monday, September 15th. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $148.78.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Christopher A. Graham sold 12,000 shares of the firm’s 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 sale, the senior vice president owned 66,738 shares of the company’s stock, 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 at the SEC website. 6.30% of the stock is currently owned by corporate insiders.

Steel Dynamics Company 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.