Stiles Financial Services Inc Has $1.33 Million Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Jul 11, 2023

Stiles Financial Services Inc boosted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 20.4% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,789 shares of the basic materials company's stock after buying an additional 1,997 shares during the quarter. Stiles Financial Services Inc's holdings in Steel Dynamics were worth $1,333,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Empirical Finance LLC increased its position in Steel Dynamics by 0.8% during the 4th quarter. Empirical Finance LLC now owns 10,381 shares of the basic materials company's stock valued at $1,014,000 after purchasing an additional 82 shares during the period. Wellington Shields & Co. LLC raised its stake in 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 buying an additional 100 shares during the last quarter. Security Financial Services INC. lifted 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 valued at $499,000 after buying an additional 103 shares during the period. Regal Investment Advisors LLC grew its holdings in Steel Dynamics by 2.0% during the 4th quarter. Regal Investment Advisors LLC now owns 5,255 shares of the basic materials company's stock worth $513,000 after acquiring an additional 104 shares during the period. Finally, Massmutual Trust Co. FSB ADV raised its position in shares of Steel Dynamics by 82.0% in the 1st 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 in the last quarter. 83.66% of the stock is owned by institutional investors and hedge funds.

STLD has been the subject of several recent analyst reports. UBS Group decreased their target price on Steel Dynamics from $110.00 to $100.00 in a research note on Friday, May 5th. BNP Paribas lowered shares of Steel Dynamics from an "outperform" rating to a "neutral" rating and set a $102.00 price objective for the company. in a research note on Wednesday, July 5th. StockNews.com started coverage on shares of Steel Dynamics in a research note on Thursday, August 17th. They set a "hold" rating on the stock. Morgan Stanley lifted their price target on shares of Steel Dynamics from $97.00 to $99.00 and gave the company an "equal weight" rating in a research note on Monday, July 24th. Finally, BMO Capital Markets cut their price objective on shares of Steel Dynamics from $120.00 to $115.00 in a research report on Monday, June 19th. 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. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $108.44.

Read Our Latest Report on STLD

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

Shares of STLD stock traded up $1.64 on Tuesday, hitting $105.50. The stock had a trading volume of 290,068 shares, compared to its average volume of 1,661,780. Steel Dynamics, Inc. has a 12-month low of $69.12 and a 12-month high of $136.46. The stock has a market cap of $17.48 billion, a price-to-earnings ratio of 6.06 and a beta of 1.50. The business has a 50 day moving average of $105.08 and a 200 day moving average of $107.77. 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 posted 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). Steel Dynamics had a net margin of 14.66% and a return on equity of 40.44%. The firm had revenue of $5.08 billion during the quarter, compared to analysts' expectations of $5.51 billion. During the same quarter last year, the business posted $6.73 EPS. The company's quarterly revenue was down 18.2% on a year-over-year basis. As a group, analysts expect that Steel Dynamics, Inc. will post 16.03 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 16th. Shareholders of record on Saturday, September 30th will be given a $0.425 dividend. The ex-dividend date is Thursday, September 28th. This represents a $1.70 annualized dividend and a yield of 1.61%. Steel Dynamics's dividend payout ratio is currently 9.91%.

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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