Steel Dynamics, Inc. (STLD) Shares Bought by Amalgamated Bank
Amalgamated Bank lifted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 22.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,897 shares of the basic materials company’s stock after purchasing an additional 8,470 shares during the period. Amalgamated Bank’s holdings in Steel Dynamics were worth $1,644,000 as of its most recent SEC filing.
Other large investors also recently bought and sold shares of the company. Washington Trust Bank lifted its position in shares of Steel Dynamics by 48.8% in the 2nd quarter. Washington Trust Bank now owns 3,393 shares of the basic materials company’s stock worth $122,000 after purchasing an additional 1,113 shares during the period. Creative Planning lifted its position in Steel Dynamics by 36.3% during the 2nd quarter. Creative Planning now owns 4,718 shares of the basic materials company’s stock valued at $169,000 after acquiring an additional 1,256 shares during the period. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in Steel Dynamics during the 2nd quarter valued at about $179,000. Nomura Asset Management Co. Ltd. lifted its position in Steel Dynamics by 11.1% during the 1st quarter. Nomura Asset Management Co. Ltd. now owns 5,390 shares of the basic materials company’s stock valued at $187,000 after acquiring an additional 540 shares during the period. Finally, Eagle Global Advisors LLC purchased a new position in Steel Dynamics during the 2nd quarter valued at about $212,000. 82.64% of the stock is owned by hedge funds and other institutional investors.
Shares of Steel Dynamics, Inc. (STLD) opened at 34.08 on Thursday. The firm’s 50-day moving average is $34.53 and its 200-day moving average is $34.91. Steel Dynamics, Inc. has a 1-year low of $23.34 and a 1-year high of $40.17. The company has a market capitalization of $8.17 billion, a price-to-earnings ratio of 15.65 and a beta of 1.26.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, July 19th. The basic materials company reported $0.63 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.63. The business had revenue of $2.39 billion during the quarter, compared to analyst estimates of $2.37 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 21.75%. The company’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.58 earnings per share. Analysts forecast that Steel Dynamics, Inc. will post $2.79 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 12th. Shareholders of record on Saturday, September 30th will be given a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Thursday, September 28th. Steel Dynamics’s payout ratio is 28.57%.
A number of brokerages recently issued reports on STLD. BidaskClub raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Saturday, July 1st. Deutsche Bank AG reissued a “buy” rating on shares of Steel Dynamics in a research report on Saturday, June 24th. Credit Suisse Group raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating and set a $36.00 price target for the company in a research report on Wednesday, May 24th. Clarkson Capital reissued a “neutral” rating on shares of Steel Dynamics in a research report on Thursday, July 20th. Finally, Cowen and Company reissued a “buy” rating and set a $44.00 price target on shares of Steel Dynamics in a research report on Wednesday, July 19th. Seven equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $39.68.
In other Steel Dynamics news, Director Keith E. Busse sold 4,965 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.42, for a total transaction of $190,755.30. Following the completion of the sale, the director now directly owns 1,005,666 shares of the company’s stock, valued at $38,637,687.72. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Christopher A. Graham sold 5,021 shares of the stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $38.05, for a total transaction of $191,049.05. Following the sale, the insider now directly owns 26,778 shares of the company’s stock, valued at $1,018,902.90. The disclosure for this sale can be found here. Corporate insiders own 4.20% of the company’s stock.
Steel Dynamics Company Profile
Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.
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