R Squared Ltd Makes New Investment in Steel Dynamics, Inc. $STLD

R Squared Ltd purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,770 shares of the basic materials company’s stock, valued at approximately $227,000.

Several other hedge funds have also recently added to or reduced their stakes in STLD. GAMMA Investing LLC raised its holdings in Steel Dynamics by 47.9% during the 1st quarter. GAMMA Investing LLC now owns 3,579 shares of the basic materials company’s stock worth $448,000 after purchasing an additional 1,159 shares during the last quarter. Asset Management One Co. Ltd. raised its holdings in Steel Dynamics by 2.4% during the 1st quarter. Asset Management One Co. Ltd. now owns 58,201 shares of the basic materials company’s stock worth $7,280,000 after purchasing an additional 1,391 shares during the last quarter. Golden State Wealth Management LLC raised its holdings in Steel Dynamics by 124.1% during the 1st quarter. Golden State Wealth Management LLC now owns 948 shares of the basic materials company’s stock worth $119,000 after purchasing an additional 525 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in Steel Dynamics by 1.6% during the 1st quarter. Sequoia Financial Advisors LLC now owns 5,803 shares of the basic materials company’s stock worth $726,000 after purchasing an additional 91 shares during the last quarter. Finally, Bartlett & CO. Wealth Management LLC bought a new stake in shares of Steel Dynamics in the 1st quarter valued at $38,000. Institutional investors own 82.41% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on STLD shares. Jefferies Financial Group lifted their price objective on shares of Steel Dynamics from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group set a $158.00 price target on shares of Steel Dynamics and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Company lifted their price target on shares of Steel Dynamics from $150.00 to $169.00 and gave the company an “overweight” rating in a research report on Wednesday. BMO Capital Markets lifted their price target on shares of Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $150.00 to $160.00 and gave the company a “neutral” rating in a research report on Monday, October 13th. Eight 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, the stock presently has an average rating of “Moderate Buy” and an average target price of $162.44.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of Steel Dynamics stock in a transaction on 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 of the company’s stock, valued at $8,456,371.98. The trade was a 15.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.30% of the stock is owned by corporate insiders.

Steel Dynamics Price Performance

STLD opened at $152.95 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.13 and a quick ratio of 1.34. The company has a market capitalization of $22.52 billion, a price-to-earnings ratio of 20.26, a P/E/G ratio of 1.27 and a beta of 1.40. The firm’s fifty day moving average price is $137.91 and its two-hundred day moving average price is $131.95. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $156.24.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Monday, October 20th. The basic materials company reported $2.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.63 by $0.11. The firm had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.93%. The business’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.05 EPS. As a group, analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, September 30th. Steel Dynamics’s payout ratio is currently 26.49%.

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.