Hamilton Wealth LLC Makes New $219,000 Investment in Steel Dynamics, Inc. (NASDAQ:STLD)

Hamilton Wealth LLC bought a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 1,475 shares of the basic materials company’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of STLD. Norges Bank purchased a new stake in shares of Steel Dynamics during the fourth quarter valued at $221,817,000. Sapient Capital LLC purchased a new position in shares of Steel Dynamics during the fourth quarter worth approximately $38,644,000. Swedbank AB bought a new position in Steel Dynamics in the first quarter worth approximately $32,178,000. Acadian Asset Management LLC increased its holdings in Steel Dynamics by 21.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock worth $168,550,000 after purchasing an additional 202,312 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its position in Steel Dynamics by 4.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock valued at $534,295,000 after purchasing an additional 152,254 shares in the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

STLD has been the subject of several recent research reports. BMO Capital Markets decreased their price objective on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a report on Tuesday, June 18th. JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $118.00 to $120.00 and gave the stock an “underweight” rating in a research note on Tuesday, July 16th. Jefferies Financial Group assumed coverage on Steel Dynamics in a research report on Monday, May 20th. They set a “hold” rating and a $150.00 target price on the stock. Finally, Bank of America reduced their price target on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. According to MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and a consensus target price of $133.86.

Steel Dynamics Stock Performance

STLD stock traded down $5.07 during trading on Friday, reaching $121.28. The company had a trading volume of 1,342,346 shares, compared to its average volume of 1,332,854. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. Steel Dynamics, Inc. has a twelve month low of $95.53 and a twelve month high of $151.34. The company has a market cap of $19.06 billion, a price-to-earnings ratio of 8.33 and a beta of 1.35. The firm has a 50-day simple moving average of $127.49 and a 200-day simple moving average of $130.34.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.05. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same period in the previous year, the company earned $4.81 earnings per share. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. As a group, sell-side analysts expect that Steel Dynamics, Inc. will post 11.35 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 12th. Shareholders of record on Sunday, June 30th were given a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.52%. The ex-dividend date was Friday, June 28th. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Insiders Place Their Bets

In other news, SVP Christopher A. Graham sold 21,000 shares of Steel Dynamics stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the completion of the transaction, the senior vice president now directly owns 60,415 shares of the company’s stock, valued at approximately $8,265,376.15. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Gabriel Shaheen 1,825 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Christopher A. Graham sold 21,000 shares of Steel Dynamics stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the completion of the sale, the senior vice president now directly owns 60,415 shares in the company, valued at approximately $8,265,376.15. The disclosure for this sale can be found here. 6.00% of the stock is owned by insiders.

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.