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May 04, 2024

Guggenheim Capital LLC Cuts Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Guggenheim Capital LLC lessened its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 12.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange

Guggenheim Capital LLC lessened its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 12.0% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 27,231 shares of the basic materials company's stock after selling 3,726 shares during the period. Guggenheim Capital LLC's holdings in Steel Dynamics were worth $3,079,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CENTRAL TRUST Co grew its stake in Steel Dynamics by 569.7% in the first quarter. CENTRAL TRUST Co now owns 221 shares of the basic materials company's stock valued at $25,000 after purchasing an additional 188 shares during the last quarter. Massmutual Trust Co. FSB ADV grew its stake in shares of Steel Dynamics by 82.0% during the first quarter. Massmutual Trust Co. FSB ADV now owns 233 shares of the basic materials company's stock worth $26,000 after acquiring an additional 105 shares during the last quarter. Financial Management Professionals Inc. grew its stake in shares of Steel Dynamics by 1,953.8% during the first quarter. Financial Management Professionals Inc. now owns 267 shares of the basic materials company's stock worth $30,000 after acquiring an additional 254 shares during the last quarter. Wellington Shields & Co. LLC grew its stake in shares of Steel Dynamics by 50.0% during the fourth quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company's stock worth $29,000 after acquiring an additional 100 shares during the last quarter. Finally, Clearstead Advisors LLC purchased a new stake in shares of Steel Dynamics during the third quarter worth about $35,000. Hedge funds and other institutional investors own 81.32% of the company's stock.

Shares of NASDAQ:STLD opened at $102.12 on Tuesday. Steel Dynamics, Inc. has a 12-month low of $69.12 and a 12-month high of $136.46. The company has a market capitalization of $16.92 billion, a PE ratio of 5.95 and a beta of 1.50. The business has a 50 day moving average of $104.88 and a two-hundred day moving average of $107.01. The company has a current ratio of 4.20, a quick ratio of 2.47 and a debt-to-equity ratio of 0.35.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results on Thursday, July 20th. The basic materials company reported $4.81 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.82 by ($0.01). Steel Dynamics had a net margin of 14.66% and a return on equity of 40.44%. The company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $5.51 billion. During the same period in the previous year, the firm posted $6.73 earnings per share. The company's revenue was down 18.2% compared to the same quarter last year. As a group, analysts forecast that Steel Dynamics, Inc. will post 16.03 EPS 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. This represents a $1.70 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Thursday, September 28th. Steel Dynamics's payout ratio is presently 9.91%.

A number of equities research analysts have recently weighed in on STLD shares. StockNews.com started coverage on Steel Dynamics in a research note on Thursday, August 17th. They set a "hold" rating on the stock. BNP Paribas lowered Steel Dynamics from an "outperform" rating to a "neutral" rating and set a $102.00 price target on the stock. in a research note on Wednesday, July 5th. Morgan Stanley boosted their price target on 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 decreased their target price on Steel Dynamics from $120.00 to $115.00 in a report on Monday, June 19th. Finally, UBS Group decreased their target price on Steel Dynamics from $110.00 to $100.00 in a report on Friday, May 5th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and one has given a buy rating to the company's stock. Based on data from MarketBeat.com, Steel Dynamics has a consensus rating of "Hold" and an average price target of $108.44.

Get Our Latest Analysis on Steel Dynamics

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

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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