Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Inspire Investing LLC

Inspire Investing LLC lowered its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 34.4% during the second quarter, HoldingsChannel.com reports. The fund owned 16,076 shares of the basic materials company’s stock after selling 8,417 shares during the quarter. Inspire Investing LLC’s holdings in Steel Dynamics were worth $2,082,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Larson Financial Group LLC acquired a new stake in shares of Steel Dynamics in the 1st quarter worth approximately $25,000. LifeSteps Financial Inc. acquired a new stake in Steel Dynamics during the 1st quarter valued at $26,000. Security National Bank acquired a new stake in Steel Dynamics during the 4th quarter valued at $30,000. Innealta Capital LLC acquired a new stake in Steel Dynamics during the 2nd quarter valued at $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Steel Dynamics during the 2nd quarter valued at $41,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Up 0.6 %

Shares of NASDAQ STLD opened at $115.12 on Thursday. Steel Dynamics, Inc. has a 1 year low of $98.03 and a 1 year high of $151.34. The firm has a market cap of $17.76 billion, a price-to-earnings ratio of 7.91 and a beta of 1.32. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. The stock’s 50-day simple moving average is $120.74 and its 200-day simple moving average is $129.24.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period in the previous year, the company earned $4.81 earnings per share. As a group, equities analysts anticipate that Steel Dynamics, Inc. will post 10.57 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.60%. Steel Dynamics’s payout ratio is currently 12.64%.

Analysts Set New Price Targets

STLD has been the topic of a number of analyst reports. JPMorgan Chase & Co. upgraded Steel Dynamics from an “underweight” rating to a “neutral” rating and increased their target price for the company from $120.00 to $131.00 in a report on Monday, September 9th. Bank of America lowered their target price on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. BMO Capital Markets lowered their target price on Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating on the stock in a report on Tuesday. Morgan Stanley decreased their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday. Finally, UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $141.29.

Steel Dynamics 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.