Penn Capital Management Co. Inc. Invests $762,000 in Steel Dynamics, Inc. (STLD) Stock
Penn Capital Management Co. Inc. acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 21,603 shares of the basic materials company’s stock, valued at approximately $762,000.
Other institutional investors also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in Steel Dynamics by 8.5% in the third quarter. JPMorgan Chase & Co. now owns 1,373,423 shares of the basic materials company’s stock worth $62,065,000 after purchasing an additional 107,058 shares in the last quarter. Teachers Advisors LLC boosted its stake in Steel Dynamics by 0.8% in the third quarter. Teachers Advisors LLC now owns 1,287,498 shares of the basic materials company’s stock worth $58,182,000 after purchasing an additional 10,556 shares in the last quarter. Legal & General Group Plc boosted its stake in Steel Dynamics by 121.7% in the third quarter. Legal & General Group Plc now owns 1,134,289 shares of the basic materials company’s stock worth $51,258,000 after purchasing an additional 622,666 shares in the last quarter. Vanguard Group Inc raised its position in shares of Steel Dynamics by 4.3% during the third quarter. Vanguard Group Inc now owns 21,357,596 shares of the basic materials company’s stock worth $965,150,000 after acquiring an additional 882,061 shares during the last quarter. Finally, Oakbrook Investments LLC raised its position in shares of Steel Dynamics by 209.7% during the fourth quarter. Oakbrook Investments LLC now owns 22,450 shares of the basic materials company’s stock worth $674,000 after acquiring an additional 15,200 shares during the last quarter. Hedge funds and other institutional investors own 83.75% of the company’s stock.
A number of research firms have recently weighed in on STLD. Zacks Investment Research upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. BidaskClub upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, January 30th. ValuEngine downgraded Steel Dynamics from a “sell” rating to a “strong sell” rating in a research report on Monday, April 1st. Macquarie set a $36.00 target price on Steel Dynamics and gave the stock a “hold” rating in a research report on Tuesday, April 23rd. Finally, Goldman Sachs Group set a $44.00 target price on Steel Dynamics and gave the stock a “buy” rating in a research report on Tuesday, April 23rd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and ten have given a buy rating to the company’s stock. Steel Dynamics has a consensus rating of “Buy” and a consensus price target of $47.64.
Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Monday, April 22nd. The basic materials company reported $0.91 EPS for the quarter, meeting analysts’ consensus estimates of $0.91. The business had revenue of $2.82 billion during the quarter, compared to the consensus estimate of $2.80 billion. Steel Dynamics had a return on equity of 33.56% and a net margin of 10.26%. The firm’s revenue was up 8.2% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.96 earnings per share. On average, equities research analysts predict that Steel Dynamics, Inc. will post 3.78 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Sunday, June 30th will be issued a $0.24 dividend. The ex-dividend date is Thursday, June 27th. This represents a $0.96 dividend on an annualized basis and a yield of 3.17%. Steel Dynamics’s dividend payout ratio is presently 17.49%.
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Steel Dynamics Company Profile
Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.
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