USA Financial Formulas Takes $668,000 Position in Steel Dynamics, Inc. $STLD

USA Financial Formulas acquired a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 3,710 shares of the basic materials company’s stock, valued at approximately $668,000.

Other hedge funds also recently bought and sold shares of the company. Prosperity Bancshares Inc bought a new position in Steel Dynamics during the fourth quarter valued at approximately $25,000. MV Capital Management Inc. purchased a new position in shares of Steel Dynamics during the fourth quarter worth approximately $27,000. Cedar Mountain Advisors LLC bought a new stake in shares of Steel Dynamics in the 1st quarter worth approximately $31,000. DV Equities LLC bought a new stake in shares of Steel Dynamics in the 4th quarter worth approximately $33,000. Finally, Torren Management LLC purchased a new stake in shares of Steel Dynamics in the 4th quarter valued at $34,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Down 1.8%

Shares of Steel Dynamics stock opened at $255.77 on Friday. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 3.18. Steel Dynamics, Inc. has a 52-week low of $124.77 and a 52-week high of $288.74. The stock has a market capitalization of $36.66 billion, a price-to-earnings ratio of 23.19, a P/E/G ratio of 0.48 and a beta of 1.52. The company’s 50 day moving average price is $248.68 and its 200-day moving average price is $220.16.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, July 21st. The basic materials company reported $3.69 EPS for the quarter, topping the consensus estimate of $3.63 by $0.06. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The company had revenue of $6.09 billion for the quarter, compared to the consensus estimate of $5.56 billion. During the same period in the previous year, the firm earned $2.01 earnings per share. The firm’s revenue for the quarter was up 33.4% on a year-over-year basis. Equities research analysts forecast that Steel Dynamics, Inc. will post 17.16 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the stock. UBS Group increased their target price on shares of Steel Dynamics from $165.00 to $276.00 and gave the company a “neutral” rating in a report on Monday, August 10th. Wells Fargo & Company lowered their price target on shares of Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating for the company in a research note on Wednesday, July 22nd. BMO Capital Markets upped their price target on shares of Steel Dynamics from $195.00 to $240.00 and gave the company an “outperform” rating in a research report on Wednesday, April 22nd. Barclays raised their price objective on Steel Dynamics from $270.00 to $272.00 and gave the company an “overweight” rating in a research note on Wednesday, July 22nd. Finally, JPMorgan Chase & Co. lifted their price objective on Steel Dynamics from $256.00 to $260.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $259.09.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of the firm’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $268.70, for a total value of $2,687,000.00. Following the sale, the senior vice president owned 102,837 shares of the company’s stock, valued at $27,632,301.90. This trade represents a 8.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.60% of the stock is currently owned by company insiders.

Steel Dynamics Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.