Securian Asset Management Inc. Sells 100 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Posted by Defense World Staff on Jul 16th, 2023

Securian Asset Management Inc. decreased its position in Steel Dynamics, Inc. (NASDAQ:STLD – Free Report) by 0.7% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 14,025 shares of the basic materials company’s stock after selling 100 shares during the quarter. Securian Asset Management Inc.’s holdings in Steel Dynamics were worth $1,586,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of STLD. KMG Fiduciary Partners LLC bought a new position in shares of Steel Dynamics in the fourth quarter worth about $205,000. Signaturefd LLC raised its stake in Steel Dynamics by 5.0% during the 4th quarter. Signaturefd LLC now owns 2,552 shares of the basic materials company’s stock valued at $249,000 after purchasing an additional 122 shares during the period. Gladstone Institutional Advisory LLC bought a new stake in Steel Dynamics during the 4th quarter valued at approximately $4,137,000. Busey Wealth Management bought a new stake in Steel Dynamics during the 4th quarter valued at approximately $247,000. Finally, Hennessy Advisors Inc. raised its stake in Steel Dynamics by 39.9% during the 1st quarter. Hennessy Advisors Inc. now owns 48,400 shares of the basic materials company’s stock valued at $5,472,000 after purchasing an additional 13,800 shares during the period. Institutional investors own 83.66% of the company’s stock.

Steel Dynamics Price Performance

Shares of Steel Dynamics stock opened at $106.36 on Friday. The stock has a market cap of $17.98 billion, a price-to-earnings ratio of 5.66 and a beta of 1.51. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.51 and a current ratio of 4.15. The stock has a 50 day moving average price of $101.06 and a 200-day moving average price of $108.47. Steel Dynamics, Inc. has a one year low of $64.23 and a one year high of $136.46.

Steel Dynamics (NASDAQ:STLD – Get Free Report) last announced its earnings results on Wednesday, April 19th. The basic materials company reported $4.01 EPS for the quarter, topping analysts’ consensus estimates of $3.81 by $0.20. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.95 billion. Steel Dynamics had a return on equity of 47.68% and a net margin of 15.73%. The company’s quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.02 EPS. Equities analysts expect that Steel Dynamics, Inc. will post 17.09 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Stockholders of record on Friday, June 30th were issued a $0.425 dividend. This represents a $1.70 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date of this dividend was Thursday, June 29th. Steel Dynamics’s dividend payout ratio (DPR) is 9.05%.

Analyst Upgrades and Downgrades

STLD has been the topic of several recent analyst reports. UBS Group decreased their target price on Steel Dynamics from $110.00 to $100.00 in a research note on Friday, May 5th. BMO Capital Markets decreased their target price on Steel Dynamics from $120.00 to $115.00 in a research note on Monday, June 19th. BNP Paribas downgraded Steel Dynamics from an “outperform” rating to a “neutral” rating and set a $102.00 target price on the stock. in a research note on Wednesday, July 5th. StockNews.com assumed coverage on Steel Dynamics in a research note on Thursday, May 18th. They set a “hold” rating on the stock. Finally, JPMorgan Chase & Co. raised their price target on Steel Dynamics from $82.00 to $93.00 in a report on Friday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $107.67.

Steel Dynamics Company Profile

(Free Report)

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. 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 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.