Riverview Trust Co Makes New $50,000 Investment in Steel Dynamics, Inc. (NASDAQ:STLD)

Riverview Trust Co bought a new position in Steel Dynamics, Inc. (NASDAQ:STLDFree Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm bought 338 shares of the basic materials company’s stock, valued at approximately $50,000.

Other institutional investors have also bought and sold shares of the company. Franklin Resources Inc. lifted its stake in Steel Dynamics by 12.0% in the 4th quarter. Franklin Resources Inc. now owns 344,569 shares of the basic materials company’s stock worth $40,694,000 after purchasing an additional 37,033 shares in the last quarter. Nordea Investment Management AB raised its position in shares of Steel Dynamics by 1.1% during the 4th quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company’s stock valued at $118,787,000 after buying an additional 11,026 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Steel Dynamics by 1.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 17,321 shares of the basic materials company’s stock valued at $2,046,000 after buying an additional 278 shares during the period. Schroder Investment Management Group raised its position in shares of Steel Dynamics by 15.3% during the 4th quarter. Schroder Investment Management Group now owns 743,697 shares of the basic materials company’s stock valued at $87,831,000 after buying an additional 98,764 shares during the period. Finally, AEGON ASSET MANAGEMENT UK Plc purchased a new stake in shares of Steel Dynamics during the 4th quarter valued at approximately $14,762,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on STLD. Citigroup lifted their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. BMO Capital Markets reduced their price target on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 18th. JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Finally, Jefferies Financial Group assumed coverage on shares of Steel Dynamics in a report on Monday, May 20th. They issued a “hold” rating and a $150.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat, Steel Dynamics presently has an average rating of “Hold” and an average price target of $127.43.

View Our Latest Report on STLD

Insider Buying and Selling

In other Steel Dynamics news, SVP Christopher A. Graham sold 21,000 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the transaction, the senior vice president now directly owns 60,415 shares in the company, valued at $8,265,376.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.10% of the stock is currently owned by corporate insiders.

Steel Dynamics Stock Performance

Shares of NASDAQ:STLD traded down $2.81 on Tuesday, reaching $123.53. The company’s stock had a trading volume of 419,007 shares, compared to its average volume of 1,213,146. The stock’s 50-day moving average is $131.25 and its two-hundred day moving average is $128.51. Steel Dynamics, Inc. has a 52-week low of $95.53 and a 52-week high of $151.34. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55. The stock has a market capitalization of $19.41 billion, a P/E ratio of 8.68 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLDGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.54 by $0.13. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the prior year, the company posted $4.01 earnings per share. As a group, sell-side analysts forecast that Steel Dynamics, Inc. will post 11.74 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Sunday, June 30th will be issued a dividend of $0.46 per share. The ex-dividend date is Friday, June 28th. This represents a $1.84 annualized dividend and a yield of 1.49%. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Steel Dynamics Profile

(Free Report)

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. 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 steel 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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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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