3,710 Shares in Steel Dynamics, Inc. $STLD Acquired by USA Financial Formulas

USA Financial Formulas acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,710 shares of the basic materials company’s stock, valued at approximately $668,000.

Several other institutional investors and hedge funds have also bought and sold shares of STLD. Prosperity Bancshares Inc purchased a new position in shares of Steel Dynamics during the 4th quarter valued at $25,000. MV Capital Management Inc. purchased a new stake in Steel Dynamics in the 4th quarter worth about $27,000. Cedar Mountain Advisors LLC bought a new stake in Steel Dynamics in the 1st quarter valued at about $31,000. DV Equities LLC bought a new stake in Steel Dynamics in the 4th quarter valued at about $33,000. Finally, Torren Management LLC purchased a new stake in Steel Dynamics during the fourth quarter valued at about $34,000. 82.41% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group started coverage on shares of Steel Dynamics in a research report on Wednesday, July 29th. They set a “buy” rating and a $300.00 target price for the company. UBS Group boosted their price target on shares of Steel Dynamics from $165.00 to $276.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Wells Fargo & Company dropped their price target on shares of Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Citigroup raised their price objective on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a report on Wednesday, April 22nd. Finally, Weiss Ratings upgraded shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $259.09.

Steel Dynamics Stock Down 1.8%

Shares of NASDAQ STLD opened at $255.77 on Friday. The company has a current ratio of 3.18, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45. The business has a 50-day moving average of $248.68 and a 200-day moving average of $220.16. The firm has a market capitalization of $36.66 billion, a price-to-earnings ratio of 23.19, a PEG ratio of 0.48 and a beta of 1.52. Steel Dynamics, Inc. has a 12 month low of $124.77 and a 12 month high of $288.74.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.63 by $0.06. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The business had revenue of $6.09 billion for the quarter, compared to the consensus estimate of $5.56 billion. During the same period last year, the firm posted $2.01 earnings per share. Steel Dynamics’s quarterly revenue was up 33.4% on a year-over-year basis. Sell-side analysts expect that Steel Dynamics, Inc. will post 17.16 earnings per share for the current fiscal year.

Insider Buying and Selling at Steel Dynamics

In other news, SVP James Stanley Anderson sold 10,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the sale, the senior vice president owned 102,837 shares in the company, valued at approximately $27,632,301.90. This trade represents a 8.86% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 6.60% of the company’s stock.

About Steel Dynamics

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.