DMC Group LLC Has $903,000 Stake in Steel Dynamics, Inc. $STLD

DMC Group LLC lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 9.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,055 shares of the basic materials company’s stock after purchasing an additional 587 shares during the period. DMC Group LLC’s holdings in Steel Dynamics were worth $903,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbour Capital Advisors LLC grew its holdings in shares of Steel Dynamics by 0.5% during the second quarter. Harbour Capital Advisors LLC now owns 14,828 shares of the basic materials company’s stock worth $1,988,000 after purchasing an additional 80 shares during the last quarter. Hemington Wealth Management grew its holdings in shares of Steel Dynamics by 35.9% during the first quarter. Hemington Wealth Management now owns 318 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 84 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Steel Dynamics by 1.6% during the first quarter. Sequoia Financial Advisors LLC now owns 5,803 shares of the basic materials company’s stock worth $726,000 after purchasing an additional 91 shares during the last quarter. Sunbelt Securities Inc. boosted its holdings in Steel Dynamics by 25.0% in the first quarter. Sunbelt Securities Inc. now owns 500 shares of the basic materials company’s stock valued at $63,000 after acquiring an additional 100 shares during the last quarter. Finally, Avantax Advisory Services Inc. boosted its holdings in Steel Dynamics by 1.8% in the first quarter. Avantax Advisory Services Inc. now owns 6,467 shares of the basic materials company’s stock valued at $809,000 after acquiring an additional 113 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors.

Insider Activity at Steel Dynamics

In other news, SVP Christopher A. Graham sold 12,000 shares of the company’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the completion of the transaction, the senior vice president directly owned 66,738 shares of the company’s stock, valued at approximately $8,456,371.98. This represents a 15.24% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 6.30% of the company’s stock.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $142.73 on Wednesday. The company has a 50-day simple moving average of $132.09 and a two-hundred day simple moving average of $129.56. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $155.56. The firm has a market cap of $21.01 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 1.15 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.04). Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The business had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the previous year, the company earned $2.72 earnings per share. The business’s quarterly revenue was down 1.5% on a year-over-year basis. On average, equities analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, September 30th. Steel Dynamics’s dividend payout ratio is 29.15%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Morgan Stanley boosted their price target on Steel Dynamics from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. Wells Fargo & Company lifted their target price on Steel Dynamics from $143.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $138.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Steel Dynamics in a report on Saturday, September 27th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.78.

About Steel Dynamics

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.