Steel Dynamics, Inc. (STLD) Position Raised by James Investment Research Inc.
James Investment Research Inc. increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1,499.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 66,758 shares of the basic materials company’s stock after buying an additional 62,583 shares during the period. James Investment Research Inc.’s holdings in Steel Dynamics were worth $2,391,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the stock. Mn Services Vermogensbeheer B.V. bought a new stake in Steel Dynamics during the second quarter worth approximately $1,409,000. Meeder Asset Management Inc. increased its stake in Steel Dynamics by 53.8% in the second quarter. Meeder Asset Management Inc. now owns 61,993 shares of the basic materials company’s stock worth $2,220,000 after buying an additional 21,678 shares in the last quarter. Creative Planning increased its stake in Steel Dynamics by 36.3% in the second quarter. Creative Planning now owns 4,718 shares of the basic materials company’s stock worth $169,000 after buying an additional 1,256 shares in the last quarter. Banced Corp increased its stake in Steel Dynamics by 5.6% in the second quarter. Banced Corp now owns 10,018 shares of the basic materials company’s stock worth $358,000 after buying an additional 531 shares in the last quarter. Finally, Fulton Bank N.A. bought a new stake in Steel Dynamics during the second quarter worth approximately $232,000. Institutional investors and hedge funds own 83.59% of the company’s stock.
Steel Dynamics, Inc. (NASDAQ:STLD) opened at 36.56 on Monday. The company has a market capitalization of $8.84 billion, a P/E ratio of 17.26 and a beta of 1.25. Steel Dynamics, Inc. has a 12-month low of $22.79 and a 12-month high of $40.17. The company’s 50 day moving average price is $34.25 and its 200-day moving average price is $35.30.
Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, April 19th. The basic materials company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.03. The firm had revenue of $2.37 billion during the quarter, compared to analyst estimates of $2.19 billion. Steel Dynamics had a return on equity of 21.77% and a net margin of 6.19%. The company’s revenue for the quarter was up 36.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.26 EPS. Equities analysts forecast that Steel Dynamics, Inc. will post $2.76 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 7th. Stockholders of record on Friday, June 30th were issued a $0.155 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.70%. The ex-dividend date was Wednesday, June 28th. Steel Dynamics’s dividend payout ratio is presently 29.25%.
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Several brokerages have issued reports on STLD. Zacks Investment Research upgraded Steel Dynamics from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Friday, April 21st. Credit Suisse Group upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating and set a $36.00 price target for the company in a report on Wednesday, May 24th. Deutsche Bank AG restated a “buy” rating on shares of Steel Dynamics in a report on Saturday, June 24th. BidaskClub upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a report on Saturday, July 1st. Finally, Cowen and Company increased their price target on Steel Dynamics from $41.00 to $42.00 and gave the stock an “outperform” rating in a report on Monday, April 24th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $38.03.
About Steel Dynamics
Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.
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