Hsbc Holdings PLC Has $174.61 Million Position in Steel Dynamics, Inc. $STLD

Hsbc Holdings PLC raised its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 92.4% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,030,448 shares of the basic materials company’s stock after purchasing an additional 494,828 shares during the quarter. Hsbc Holdings PLC’s holdings in Steel Dynamics were worth $174,609,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Prosperity Bancshares Inc acquired a new position in shares of Steel Dynamics in the 4th quarter valued at about $25,000. MV Capital Management Inc. bought a new stake in shares of Steel Dynamics in the 4th quarter valued at $27,000. Sound Income Strategies LLC lifted its position in shares of Steel Dynamics by 1,500.0% during the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 150 shares during the period. DV Equities LLC bought a new stake in Steel Dynamics in the fourth quarter valued at $33,000. Finally, Torren Management LLC bought a new position in shares of Steel Dynamics during the 4th quarter worth about $34,000. 82.41% of the stock is owned by institutional investors.

Insider Activity at Steel Dynamics

In other news, SVP Miguel Alvarez sold 4,825 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the transaction, the senior vice president directly owned 122,257 shares of the company’s stock, valued at approximately $27,578,734.06. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Kenneth W. Cornew sold 5,000 shares of the company’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the transaction, the director directly owned 31,299 shares of the company’s stock, valued at approximately $7,038,206.13. This trade represents a 13.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 22,125 shares of company stock worth $5,438,226. Corporate insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on STLD. Jefferies Financial Group reaffirmed a “buy” rating on shares of Steel Dynamics in a research report on Tuesday, March 17th. KeyCorp raised their price objective on Steel Dynamics from $241.00 to $262.00 and gave the company an “overweight” rating in a research note on Wednesday, June 24th. JPMorgan Chase & Co. increased their target price on Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a report on Tuesday, April 14th. Wells Fargo & Company decreased their price target on shares of Steel Dynamics from $293.00 to $291.00 and set an “overweight” rating for the company in a research note on Thursday, June 18th. Finally, Bank of America dropped their price objective on shares of Steel Dynamics from $285.00 to $280.00 and set a “neutral” rating on the stock in a research note on Thursday, June 18th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $236.36.

Steel Dynamics Price Performance

STLD stock opened at $220.39 on Friday. The stock has a market cap of $31.89 billion, a P/E ratio of 23.57, a P/E/G ratio of 0.43 and a beta of 1.53. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46. The stock’s fifty day simple moving average is $245.84 and its two-hundred day simple moving average is $204.81. Steel Dynamics, Inc. has a 1-year low of $119.89 and a 1-year high of $288.74.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing the consensus estimate of $2.79 by ($0.01). The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The firm’s revenue was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.44 EPS. Analysts expect that Steel Dynamics, Inc. will post 16.78 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is currently 22.67%.

Steel Dynamics Company 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.