The Vanguard Group, Inc. recently announced the acquisition of new stake in Steel Dynamics Inc. (NASDAQ:STLD). The institutional investor has increased its shareholding in the Basic Materials company by 10.02% to 21.11 million shares with purchase of 1.92 million shares. This fresh investment now brings its stake to 12.30% valued currently at $2.19 billion. In addition, BlackRock Fund Advisors raised its holdings by 0.16 million to 10.57 million shares. And SSgA Funds Management, Inc. has lifted its position by 8.55% or 0.68 million shares – to 8.62 million shares.
With over 1.5 million Steel Dynamics Inc. (STLD) shares trading Monday and a closing price of $97.19 on the day, the dollar volume was approximately $145.7 million. The shares have shown a negative half year performance of -3.78% and its price on 05/22/23 gained nearly 0.13%. Currently, there are 171.60M common shares owned by the public and among those 165.28M shares have been available to trade.
Unlock the Hottest Top 10 Penny Stocks Today! Discover Now
Dive into the world of lucrative penny stocks with MarketClub's groundbreaking "Smart Scan" technology! Get an instant snapshot of the top 50 high volume stocks with a clear direction and outstanding liquidity - in other words, the strongest trending. To unlock this exclusive list, simply provide your first name, last name, and email for instant access.
Gain Access to Top 10 Penny Stocks Now!.
Sponsored
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 14 analysts who have offered their price forecasts for STLD have a consensus price objective of $112.81. The analysts have set the share’s price value over the next 12 months at a high of $130.00 and a low of $67.00. The average price target is 13.15% above its recent price level and a downside to the estimated low will see the stock lose -45.06% over that period. But an upside of 25.24% will see the stock hit the forecast high price target while median target price for the stock is $120.00.
Insiders at the company have transacted a total of 146 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 92 of these insider trades were purchases, accounting for 741,588 shares. Insider sales of the common stock occurred on 54 occasions, with total insider shares sold totaling 637,533 shares.
The top 3 mutual fund holders in Steel Dynamics Inc. are Vanguard Total Stock Market ETF, Vanguard 500 Index Fund, and American Funds Growth Fund of Ame. Vanguard Total Stock Market ETF owns 5.16 million shares of the company’s stock, all valued at over $536.6 million. The company bought an additional 29917.0 shares recently to bring their total holdings to about 3.01% of the shares outstanding. Vanguard 500 Index Fund bought 20860.0 shares to see its total holdings expand to 3.89 million shares valued at over $404.79 million and representing 2.27% of the shares outstanding. American Funds Growth Fund of Ame now owns shares totaling to 1.84% of the shares outstanding.
Shares of Steel Dynamics Inc. (NASDAQ: STLD) opened at $97.71, up $0.65 from a prior closing price of $97.06. However, the script later moved the day high at 98.31, up 0.13%. The company’s stock has a 5-day price change of -0.85% and -20.19% over the past three months. STLD shares are trading -0.52% year to date (YTD), with the 12-month market performance up to 28.30% higher. It has a 12-month low price of $62.44 and touched a high of $136.46 over the same period. STLD has an average intraday trading volume of 1.88 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -2.75%, -7.54%, and -2.87% respectively.
Institutional ownership of Steel Dynamics Inc. (NASDAQ: STLD) shares accounts for 85.70% of the company’s 171.60M shares outstanding. Mutual fund holders own 30.58%, while other institutional holders and individual stakeholders account for 54.52% and 12.18% respectively.
It has a market capitalization of $16.56B and a beta (3y monthly) value of 1.50. The stock’s trailing 12-month PE ratio is 5.17, while the earnings-per-share (ttm) stands at $18.78. The company has a PEG of 0.18 and a Quick Ratio of 2.50 with the debt-to-equity ratio at 0.37. Price movements for the stock have been influenced by the stock’s volatility, which stands at 2.47% over the week and 3.05% over the month.
Analysts forecast that Steel Dynamics Inc. (STLD) will achieve an EPS of $5.03 for the current quarter, $4.15 for the next quarter and $9.62 for 2024. The lowest estimate earnings-per-share for the quarter is $4.52 while analysts give the company a high EPS estimate of $5.62. Comparatively, EPS for the current quarter was $6.73 a year ago. Earnings per share for the fiscal year are expected to increase by 34.50%, and -39.51% over the next financial year. EPS should shrink at an annualized rate of 28.06% over the next five years, compared to 51.50% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 14 brokerage firm advisors rate Steel Dynamics Inc. (STLD) as a “Moderate Buy” at a consensus score of 2.90. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 10 of the 14 advise that investors “hold,” and 1 rated it as a “Sell.”
