Amalgamated Bank Buys 224 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Amalgamated Bank boosted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.8% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 27,627 shares of the basic materials company’s stock after purchasing an additional 224 shares during the period. Amalgamated Bank’s holdings in Steel Dynamics were worth $3,456,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of STLD. Jones Financial Companies Lllp grew its position in shares of Steel Dynamics by 41.8% in the 4th quarter. Jones Financial Companies Lllp now owns 3,794 shares of the basic materials company’s stock worth $433,000 after buying an additional 1,119 shares during the last quarter. Ritholtz Wealth Management boosted its holdings in Steel Dynamics by 24.4% in the first quarter. Ritholtz Wealth Management now owns 6,687 shares of the basic materials company’s stock valued at $836,000 after acquiring an additional 1,310 shares in the last quarter. Farther Finance Advisors LLC boosted its holdings in Steel Dynamics by 10.4% in the first quarter. Farther Finance Advisors LLC now owns 1,535 shares of the basic materials company’s stock valued at $190,000 after acquiring an additional 145 shares in the last quarter. Orion Portfolio Solutions LLC boosted its holdings in Steel Dynamics by 63.4% in the fourth quarter. Orion Portfolio Solutions LLC now owns 7,354 shares of the basic materials company’s stock valued at $839,000 after acquiring an additional 2,854 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its holdings in Steel Dynamics by 31.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,511 shares of the basic materials company’s stock valued at $3,441,000 after acquiring an additional 6,604 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Activity

In other news, Director Gabriel Shaheen sold 1,254 shares of Steel Dynamics stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $134.11, for a total value of $168,173.94. Following the completion of the transaction, the director owned 81,812 shares of the company’s stock, valued at $10,971,807.32. The trade was a 1.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Miguel Alvarez sold 7,495 shares of Steel Dynamics stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $135.26, for a total value of $1,013,773.70. Following the completion of the transaction, the senior vice president directly owned 125,319 shares of the company’s stock, valued at approximately $16,950,647.94. This represents a 5.64% decrease in their position. The disclosure for this sale can be found here. 6.30% of the stock is owned by insiders.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $131.97 on Friday. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $155.56. The stock has a market cap of $19.59 billion, a PE ratio of 17.43, a price-to-earnings-growth ratio of 1.04 and a beta of 1.37. The company has a current ratio of 2.74, a quick ratio of 1.38 and a debt-to-equity ratio of 0.44. The company’s fifty day moving average price is $131.19 and its 200-day moving average price is $126.25.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.04. The firm had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.17 billion. Steel Dynamics had a net margin of 6.80% and a return on equity of 13.26%. During the same quarter in the previous year, the business posted $3.67 EPS. On average, equities analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.52%. The ex-dividend date is Monday, June 30th. Steel Dynamics’s dividend payout ratio is presently 26.42%.

Analyst Ratings Changes

Several research firms recently weighed in on STLD. Wall Street Zen cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a report on Friday, April 25th. Morgan Stanley lifted their price target on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an “overweight” rating in a report on Friday, June 20th. BMO Capital Markets upgraded shares of Steel Dynamics from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $135.00 to $145.00 in a report on Monday, March 31st. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 price target on the stock in a report on Monday, March 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $135.00 to $138.00 and gave the company a “neutral” rating in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $148.00.

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.