GAMMA Investing LLC Has $265,000 Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

GAMMA Investing LLC raised its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 27.0% during the second quarter, HoldingsChannel reports. The firm owned 2,050 shares of the basic materials company’s stock after acquiring an additional 436 shares during the quarter. GAMMA Investing LLC’s holdings in Steel Dynamics were worth $265,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of Steel Dynamics during the 4th quarter valued at $221,817,000. Sapient Capital LLC acquired a new position in Steel Dynamics during the 4th quarter worth about $38,644,000. Swedbank AB acquired a new position in Steel Dynamics during the 1st quarter worth about $32,178,000. Acadian Asset Management LLC lifted its holdings in Steel Dynamics by 21.6% during the 1st quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock worth $168,550,000 after buying an additional 202,312 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its holdings in Steel Dynamics by 4.4% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock worth $534,295,000 after buying an additional 152,254 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Up 0.1 %

Steel Dynamics stock traded up $0.13 during midday trading on Monday, reaching $121.41. The stock had a trading volume of 1,454,678 shares, compared to its average volume of 1,245,155. Steel Dynamics, Inc. has a 12 month low of $95.53 and a 12 month high of $151.34. The company has a market capitalization of $19.08 billion, a P/E ratio of 8.01 and a beta of 1.35. The company has a fifty day moving average price of $127.49 and a two-hundred day moving average price of $130.60. The company has a current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.67 by $0.05. The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The company’s quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $4.81 EPS. As a group, equities analysts expect that Steel Dynamics, Inc. will post 11.35 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 12th. Stockholders of record on Sunday, June 30th were paid a $0.46 dividend. The ex-dividend date was Friday, June 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.52%. Steel Dynamics’s payout ratio is presently 12.64%.

Insider Transactions at Steel Dynamics

In related news, Director Gabriel Shaheen 1,825 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Gabriel Shaheen 1,825 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Christopher A. Graham sold 21,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $136.81, for a total value of $2,873,010.00. Following the completion of the transaction, the senior vice president now owns 60,415 shares in the company, valued at approximately $8,265,376.15. The disclosure for this sale can be found here. Company insiders own 6.00% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on STLD shares. Jefferies Financial Group started coverage on Steel Dynamics in a report on Monday, May 20th. They set a “hold” rating and a $150.00 target price on the stock. JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $118.00 to $120.00 and gave the stock an “underweight” rating in a report on Tuesday, July 16th. Bank of America lowered their price objective on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. Finally, BMO Capital Markets lowered their price objective on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a research report on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $133.86.

About Steel Dynamics

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.