MBB Public Markets I LLC Makes New $1.38 Million Investment in Steel Dynamics, Inc. (NASDAQ:STLD)

MBB Public Markets I LLC bought a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,632 shares of the basic materials company’s stock, valued at approximately $1,377,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of STLD. Larson Financial Group LLC purchased a new stake in shares of Steel Dynamics in the first quarter valued at $25,000. LifeSteps Financial Inc. purchased a new stake in shares of Steel Dynamics during the 1st quarter valued at $26,000. Security National Bank purchased a new position in Steel Dynamics during the 4th quarter worth $30,000. Innealta Capital LLC acquired a new position in Steel Dynamics during the 2nd quarter valued at about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new stake in Steel Dynamics in the second quarter valued at about $41,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STLD has been the topic of several recent analyst reports. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. Morgan Stanley cut their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. BMO Capital Markets cut their price objective on Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating on the stock in a report on Tuesday, September 17th. JPMorgan Chase & Co. upgraded Steel Dynamics from an “underweight” rating to a “neutral” rating and upped their target price for the company from $120.00 to $131.00 in a research report on Monday, September 9th. Finally, Bank of America dropped their price objective on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, Steel Dynamics presently has a consensus rating of “Hold” and a consensus price target of $141.29.

Steel Dynamics Trading Up 0.6 %

Steel Dynamics stock opened at $125.98 on Monday. The stock’s 50 day simple moving average is $119.47 and its two-hundred day simple moving average is $128.73. Steel Dynamics, Inc. has a 12 month low of $98.25 and a 12 month high of $151.34. The firm has a market cap of $19.80 billion, a PE ratio of 8.65 and a beta of 1.32. The company has a current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results 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 last year, the company posted $4.81 EPS. Steel Dynamics’s quarterly revenue was down 8.8% compared to the same quarter last year. Analysts anticipate that Steel Dynamics, Inc. will post 10.32 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be paid a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Monday, September 30th. Steel Dynamics’s dividend payout ratio is currently 12.64%.

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.