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May 27, 2024

Camarda Financial Advisors LLC Grows Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Camarda Financial Advisors LLC grew its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 24.7% in the first quarter, according to its most recent 13F filing with the

Camarda Financial Advisors LLC grew its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 24.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,787 shares of the basic materials company's stock after purchasing an additional 2,334 shares during the period. Camarda Financial Advisors LLC's holdings in Steel Dynamics were worth $1,333,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the company. Empirical Finance LLC grew its holdings in Steel Dynamics by 0.8% in the fourth quarter. Empirical Finance LLC now owns 10,381 shares of the basic materials company's stock worth $1,014,000 after purchasing an additional 82 shares during the period. Wellington Shields & Co. LLC grew its holdings in Steel Dynamics by 50.0% in the fourth quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company's stock worth $29,000 after purchasing an additional 100 shares during the period. Security Financial Services INC. grew its holdings in Steel Dynamics by 2.4% in the first quarter. Security Financial Services INC. now owns 4,416 shares of the basic materials company's stock worth $499,000 after purchasing an additional 103 shares during the period. Regal Investment Advisors LLC grew its holdings in Steel Dynamics by 2.0% in the fourth quarter. Regal Investment Advisors LLC now owns 5,255 shares of the basic materials company's stock worth $513,000 after purchasing an additional 104 shares during the period. Finally, Massmutual Trust Co. FSB ADV grew its holdings in Steel Dynamics by 82.0% in the first quarter. Massmutual Trust Co. FSB ADV now owns 233 shares of the basic materials company's stock worth $26,000 after purchasing an additional 105 shares during the period. 83.66% of the stock is currently owned by hedge funds and other institutional investors.

In other Steel Dynamics news, SVP Christopher A. Graham sold 48,000 shares of Steel Dynamics stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $105.03, for a total value of $5,041,440.00. Following the sale, the senior vice president now directly owns 61,353 shares in the company, valued at approximately $6,443,905.59. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, Director Gabriel Shaheen sold 1,717 shares of the business's stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $105.80, for a total value of $181,658.60. Following the sale, the director now directly owns 83,074 shares in the company, valued at approximately $8,789,229.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Christopher A. Graham sold 48,000 shares of the business's stock in a transaction dated Tuesday, August 15th. The stock was sold at an average price of $105.03, for a total transaction of $5,041,440.00. Following the completion of the sale, the senior vice president now owns 61,353 shares in the company, valued at $6,443,905.59. The disclosure for this sale can be found here. 6.00% of the stock is currently owned by insiders.

Steel Dynamics stock traded down $0.94 during midday trading on Thursday, reaching $101.95. 516,026 shares of the company traded hands, compared to its average volume of 1,658,754. The firm has a market capitalization of $16.89 billion, a price-to-earnings ratio of 6.00 and a beta of 1.50. Steel Dynamics, Inc. has a 12 month low of $69.12 and a 12 month high of $136.46. The business has a 50 day moving average of $105.00 and a two-hundred day moving average of $107.57. The company has a debt-to-equity ratio of 0.35, a current ratio of 4.20 and a quick ratio of 2.47.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings data on Thursday, July 20th. The basic materials company reported $4.81 EPS for the quarter, missing the consensus estimate of $4.82 by ($0.01). The firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.51 billion. Steel Dynamics had a net margin of 14.66% and a return on equity of 40.44%. The firm's revenue for the quarter was down 18.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.73 earnings per share. As a group, research analysts predict that Steel Dynamics, Inc. will post 16.03 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be issued a $0.425 dividend. The ex-dividend date of this dividend is Thursday, September 28th. This represents a $1.70 dividend on an annualized basis and a yield of 1.67%. Steel Dynamics's dividend payout ratio is currently 9.91%.

A number of equities research analysts have weighed in on STLD shares. UBS Group cut their price objective on shares of Steel Dynamics from $110.00 to $100.00 in a report on Friday, May 5th. Morgan Stanley upped their target price on shares of Steel Dynamics from $97.00 to $99.00 and gave the stock an "equal weight" rating in a research note on Monday, July 24th. BMO Capital Markets dropped their target price on shares of Steel Dynamics from $120.00 to $115.00 in a research note on Monday, June 19th. BNP Paribas downgraded shares of Steel Dynamics from an "outperform" rating to a "neutral" rating and set a $102.00 target price on the stock. in a research note on Wednesday, July 5th. Finally, StockNews.com assumed coverage on shares of Steel Dynamics in a research note on Thursday, August 17th. They issued a "hold" rating on the stock. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $108.44.

Get Our Latest Research Report on Steel Dynamics

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. 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 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.

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