Steel Dynamics, Inc. $STLD Shares Acquired by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 118.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 12,419 shares of the basic materials company’s stock after purchasing an additional 6,732 shares during the period. Valeo Financial Advisors LLC’s holdings in Steel Dynamics were worth $1,590,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Osaic Holdings Inc. raised its holdings in Steel Dynamics by 129.1% during the 2nd quarter. Osaic Holdings Inc. now owns 73,108 shares of the basic materials company’s stock worth $9,242,000 after buying an additional 41,203 shares during the period. Pathway Financial Advisers LLC boosted its holdings in shares of Steel Dynamics by 0.7% in the second quarter. Pathway Financial Advisers LLC now owns 45,136 shares of the basic materials company’s stock worth $5,778,000 after buying an additional 308 shares during the period. Monarch Capital Management Inc. increased its position in shares of Steel Dynamics by 2.6% in the second quarter. Monarch Capital Management Inc. now owns 31,481 shares of the basic materials company’s stock worth $4,041,000 after acquiring an additional 803 shares in the last quarter. Advisory Services Network LLC raised its holdings in shares of Steel Dynamics by 35.2% during the second quarter. Advisory Services Network LLC now owns 58,186 shares of the basic materials company’s stock valued at $7,422,000 after acquiring an additional 15,155 shares during the period. Finally, Delos Wealth Advisors LLC purchased a new stake in shares of Steel Dynamics in the 2nd quarter valued at approximately $121,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Buying and Selling

In related news, SVP Miguel Alvarez sold 8,251 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the transaction, the senior vice president owned 117,068 shares of the company’s stock, valued at approximately $19,057,499.72. This trade represents a 6.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently commented on STLD. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Steel Dynamics in a research note on Monday. UBS Group set a $165.00 target price on Steel Dynamics in a research report on Tuesday, November 4th. The Goldman Sachs Group set a $172.00 price target on Steel Dynamics and gave the company a “neutral” rating in a research report on Friday, October 31st. KeyCorp increased their price objective on Steel Dynamics from $152.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. Finally, JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $165.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, Steel Dynamics presently has an average rating of “Moderate Buy” and a consensus target price of $176.89.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $169.13 on Wednesday. The firm has a market cap of $24.70 billion, a price-to-earnings ratio of 22.40, a P/E/G ratio of 1.23 and a beta of 1.47. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $174.31. The company has a current ratio of 3.11, a quick ratio of 1.47 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $157.55 and a 200 day simple moving average of $140.95.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, October 21st. The basic materials company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.11. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.The firm had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the company posted $2.05 earnings per share. The business’s quarterly revenue was up 11.2% compared to the same quarter last year. As a group, sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be issued a $0.50 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. Steel Dynamics’s dividend payout ratio is currently 26.49%.

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.