Steel Dynamics, Inc. (NASDAQ:STLD) Shares Purchased by Advisory Services Network LLC

Advisory Services Network LLC boosted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 12.1% during the first quarter, Holdings Channel.com reports. The institutional investor owned 30,952 shares of the basic materials company’s stock after buying an additional 3,343 shares during the period. Advisory Services Network LLC’s holdings in Steel Dynamics were worth $4,588,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in STLD. Greenfield Savings Bank raised its holdings in Steel Dynamics by 0.7% in the first quarter. Greenfield Savings Bank now owns 11,676 shares of the basic materials company’s stock valued at $1,731,000 after acquiring an additional 85 shares in the last quarter. EverSource Wealth Advisors LLC raised its position in Steel Dynamics by 9.0% during the 4th quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the basic materials company’s stock worth $126,000 after buying an additional 88 shares during the last quarter. Global Retirement Partners LLC boosted its holdings in Steel Dynamics by 19.2% in the 1st quarter. Global Retirement Partners LLC now owns 570 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 92 shares in the last quarter. Signaturefd LLC grew its holdings in Steel Dynamics by 0.9% during the fourth quarter. Signaturefd LLC now owns 10,698 shares of the basic materials company’s stock worth $1,263,000 after acquiring an additional 93 shares during the period. Finally, Summit Trail Advisors LLC increased its holdings in shares of Steel Dynamics by 5.3% in the 1st quarter. Summit Trail Advisors LLC now owns 1,937 shares of the basic materials company’s stock valued at $288,000 after purchasing an additional 98 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on STLD shares. JPMorgan Chase & Co. boosted their price target on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. BMO Capital Markets dropped their price target 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. Jefferies Financial Group started coverage on Steel Dynamics in a research note on Monday, May 20th. They set a “hold” rating and a $150.00 price target for the company. Finally, Bank of America lowered their price objective on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, Steel Dynamics presently has a consensus rating of “Hold” and an average price target of $133.57.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Christopher A. Graham sold 21,000 shares of the stock in a transaction that occurred on 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 owns 60,415 shares of the company’s stock, valued at $8,265,376.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 6.00% of the stock is owned by insiders.

Steel Dynamics Trading Up 0.2 %

Shares of NASDAQ:STLD traded up $0.22 during trading on Friday, reaching $129.99. The stock had a trading volume of 313,663 shares, compared to its average volume of 1,223,973. The company has a quick ratio of 1.55, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. The stock has a market cap of $20.43 billion, a P/E ratio of 8.89 and a beta of 1.35. The business has a fifty day moving average price of $129.23 and a 200-day moving average price of $129.06. Steel Dynamics, Inc. has a fifty-two week low of $95.53 and a fifty-two week high of $151.34.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13. The company had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.01 EPS. As a group, analysts anticipate that Steel Dynamics, Inc. will post 11.64 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Sunday, June 30th will be given a $0.46 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.84 annualized dividend and a dividend yield of 1.42%. Steel Dynamics’s dividend payout ratio is presently 12.64%.

Steel Dynamics Profile

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.