Lmcg Investments LLC Takes $924,000 Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Lmcg Investments LLC bought a new stake in Steel Dynamics, Inc. (NASDAQ:STLDGet Rating) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 11,077 shares of the basic materials company’s stock, valued at approximately $924,000.

Other large investors have also modified their holdings of the company. Riverview Trust Co acquired a new stake in shares of Steel Dynamics in the first quarter valued at about $28,000. Rational Advisors LLC acquired a new stake in shares of Steel Dynamics in the fourth quarter valued at about $25,000. Citizens National Bank Trust Department acquired a new stake in shares of Steel Dynamics in the fourth quarter valued at about $25,000. UMB Bank N A MO acquired a new stake in shares of Steel Dynamics in the fourth quarter valued at about $27,000. Finally, Allegheny Financial Group LTD purchased a new position in Steel Dynamics in the fourth quarter valued at about $27,000. Institutional investors and hedge funds own 83.19% of the company’s stock.

Steel Dynamics Stock Up 1.3 %

STLD opened at $84.65 on Wednesday. Steel Dynamics, Inc. has a 12 month low of $50.54 and a 12 month high of $100.37. The company has a debt-to-equity ratio of 0.41, a current ratio of 3.52 and a quick ratio of 1.87. The stock has a market cap of $15.46 billion, a P/E ratio of 3.76 and a beta of 1.41. The stock’s 50 day moving average price is $71.98 and its 200 day moving average price is $75.63.

Steel Dynamics (NASDAQ:STLDGet Rating) last posted its earnings results on Wednesday, July 20th. The basic materials company reported $6.73 EPS for the quarter, beating the consensus estimate of $6.34 by $0.39. Steel Dynamics had a return on equity of 71.50% and a net margin of 19.81%. The firm had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $5.93 billion. During the same period last year, the firm earned $3.40 EPS. The firm’s revenue was up 39.1% compared to the same quarter last year. As a group, research analysts predict that Steel Dynamics, Inc. will post 21.07 earnings per share for the current year.

Analyst Ratings Changes

STLD has been the subject of a number of analyst reports. Morgan Stanley reduced their price target on Steel Dynamics from $94.00 to $78.00 and set an “equal weight” rating for the company in a report on Wednesday, July 6th. BMO Capital Markets increased their price target on Steel Dynamics from $95.00 to $104.00 in a report on Friday, April 22nd. The Goldman Sachs Group downgraded Steel Dynamics from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $114.00 to $92.00 in a report on Tuesday, May 31st. UBS Group set a $95.00 target price on Steel Dynamics in a report on Monday, June 20th. Finally, JPMorgan Chase & Co. reduced their target price on Steel Dynamics from $129.00 to $110.00 in a report on Tuesday, June 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $89.00.

Insider Activity

In other news, Director Keith E. Busse sold 5,040 shares of Steel Dynamics stock in a transaction on Friday, June 3rd. The stock was sold at an average price of $83.51, for a total transaction of $420,890.40. Following the transaction, the director now directly owns 724,034 shares in the company, valued at approximately $60,464,079.34. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 5.40% of the stock is owned by insiders.

Steel Dynamics Company Profile

(Get Rating)

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 roll, cold roll, 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; and engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars.

See Also

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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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