Compound Planning Inc. Sells 3,063 Shares of Steel Dynamics, Inc. $STLD

Compound Planning Inc. lessened its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 55.5% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 2,459 shares of the basic materials company’s stock after selling 3,063 shares during the quarter. Compound Planning Inc.’s holdings in Steel Dynamics were worth $443,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Prosperity Bancshares Inc bought a new position in Steel Dynamics in the 4th quarter valued at about $25,000. MV Capital Management Inc. bought a new stake in shares of Steel Dynamics during the fourth quarter worth approximately $27,000. Sound Income Strategies LLC grew its position in shares of Steel Dynamics by 1,500.0% in the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 150 shares during the last quarter. Cedar Mountain Advisors LLC acquired a new position in shares of Steel Dynamics in the first quarter valued at approximately $31,000. Finally, DV Equities LLC bought a new position in shares of Steel Dynamics during the fourth quarter worth approximately $33,000. Institutional investors own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on STLD. Weiss Ratings raised Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. Citigroup upped their price objective on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $256.00 to $260.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Barclays lifted their target price on Steel Dynamics from $270.00 to $272.00 and gave the stock an “overweight” rating in a report on Wednesday, July 22nd. Finally, KeyCorp reissued an “overweight” rating on shares of Steel Dynamics in a research report on Wednesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $249.00.

Steel Dynamics Stock Down 2.8%

NASDAQ STLD opened at $252.34 on Thursday. The company has a current ratio of 3.18, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45. The company has a market cap of $36.52 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 0.49 and a beta of 1.53. The company has a 50 day moving average of $248.00 and a 200-day moving average of $213.15. Steel Dynamics, Inc. has a 1-year low of $119.89 and a 1-year high of $288.74.

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

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date was Tuesday, June 30th. Steel Dynamics’s dividend payout ratio is presently 19.22%.

Insider Buying and Selling at Steel Dynamics

In other news, SVP James Stanley Anderson sold 10,000 shares of the stock in a transaction on Friday, June 5th. The stock was sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the sale, the senior vice president directly owned 102,837 shares of the company’s stock, valued at approximately $27,632,301.90. This represents a 8.86% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the firm’s stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total value of $538,453.00. Following the completion of the transaction, the senior vice president owned 28,618 shares in the company, valued at $6,699,759.98. The trade was a 7.44% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 6.60% of the company’s stock.

About Steel Dynamics

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.