Steel Dynamics, Inc. $STLD Shares Acquired by Cetera Investment Advisers

Cetera Investment Advisers increased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 8.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 47,298 shares of the basic materials company’s stock after purchasing an additional 3,689 shares during the quarter. Cetera Investment Advisers’ holdings in Steel Dynamics were worth $8,514,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in STLD. Strs Ohio lifted its holdings in Steel Dynamics by 7.3% in the 4th quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock valued at $26,075,000 after purchasing an additional 10,519 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of Steel Dynamics by 3.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock worth $340,289,000 after buying an additional 72,122 shares in the last quarter. Canada Post Corp Registered Pension Plan raised its position in shares of Steel Dynamics by 70.5% in the fourth quarter. Canada Post Corp Registered Pension Plan now owns 11,692 shares of the basic materials company’s stock valued at $1,981,000 after buying an additional 4,835 shares during the last quarter. Ethic Inc. raised its position in shares of Steel Dynamics by 56.5% in the fourth quarter. Ethic Inc. now owns 18,548 shares of the basic materials company’s stock valued at $3,143,000 after buying an additional 6,695 shares during the last quarter. Finally, Delphi Management Inc. MA lifted its stake in shares of Steel Dynamics by 399.1% in the fourth quarter. Delphi Management Inc. MA now owns 8,161 shares of the basic materials company’s stock worth $1,383,000 after buying an additional 6,526 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

STLD has been the subject of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Steel Dynamics from $256.00 to $260.00 and gave the company a “neutral” rating in a research note on Wednesday, July 22nd. Wells Fargo & Company decreased their target price on shares of Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Weiss Ratings upgraded Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. Bank of America dropped their price target on Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Finally, Citigroup increased their price target on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, Steel Dynamics currently has a consensus rating of “Moderate Buy” and a consensus price target of $249.00.

Insider Buying and Selling

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,300 shares of Steel Dynamics stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total value of $538,453.00. Following the sale, the senior vice president owned 28,618 shares in the company, valued at $6,699,759.98. The trade was a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP James Stanley Anderson sold 10,000 shares of the company’s stock in a transaction on Friday, June 5th. The shares were sold at an average price of $268.70, for a total value of $2,687,000.00. Following the completion of the transaction, the senior vice president directly owned 102,837 shares in the company, valued at approximately $27,632,301.90. This trade represents a 8.86% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 6.60% of the company’s stock.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $251.26 on Friday. The company has a current ratio of 3.18, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $248.64 and a 200 day moving average price of $214.00. Steel Dynamics, Inc. has a 12-month low of $119.89 and a 12-month high of $288.74. The stock has a market cap of $36.01 billion, a P/E ratio of 22.78, a PEG ratio of 0.48 and a beta of 1.53.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, beating the consensus estimate of $3.63 by $0.06. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The company had revenue of $6.09 billion for the quarter, compared to analyst estimates of $5.56 billion. During the same period in the previous year, the business posted $2.01 EPS. Steel Dynamics’s revenue was up 33.4% on a year-over-year basis. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 17.16 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were issued a $0.53 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a yield of 0.8%. Steel Dynamics’s dividend payout ratio is currently 19.22%.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.