GAMMA Investing LLC Raises Stock Position in Steel Dynamics, Inc. $STLD

GAMMA Investing LLC lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 11.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,996 shares of the basic materials company’s stock after buying an additional 417 shares during the quarter. GAMMA Investing LLC’s holdings in Steel Dynamics were worth $512,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Cary Street Partners Investment Advisory LLC lifted its position in shares of Steel Dynamics by 493.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock worth $25,000 after buying an additional 163 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in shares of Steel Dynamics during the 1st quarter worth approximately $25,000. Zions Bancorporation National Association UT purchased a new stake in shares of Steel Dynamics during the 1st quarter worth approximately $32,000. WPG Advisers LLC purchased a new stake in shares of Steel Dynamics during the 1st quarter worth approximately $32,000. Finally, Grove Bank & Trust lifted its position in shares of Steel Dynamics by 194.7% during the 1st quarter. Grove Bank & Trust now owns 277 shares of the basic materials company’s stock worth $35,000 after buying an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of STLD opened at $136.09 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.13. The stock has a market capitalization of $20.03 billion, a P/E ratio of 19.84, a P/E/G ratio of 1.11 and a beta of 1.40. The company’s fifty day moving average is $130.32 and its two-hundred day moving average is $128.61. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data 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). The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.82 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.72 earnings per share. On average, sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Steel Dynamics’s payout ratio is currently 29.15%.

Analyst Upgrades and Downgrades

Several analysts recently commented on STLD shares. Wells Fargo & Company upped their price target on shares of 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. upped their price target on shares of Steel Dynamics from $138.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Finally, Morgan Stanley upped their price target on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, June 20th. Nine research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $149.40.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the business’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total value of $1,520,520.00. Following the transaction, the senior vice president directly owned 66,738 shares of the company’s stock, valued at approximately $8,456,371.98. The trade was a 15.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.30% of the company’s stock.

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.