Phillips Financial Management LLC Takes $841,000 Position in Steel Dynamics, Inc. $STLD

Phillips Financial Management LLC bought a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 3,663 shares of the basic materials company’s stock, valued at approximately $841,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Prosperity Bancshares Inc acquired a new stake in Steel Dynamics during the fourth quarter valued at approximately $25,000. MV Capital Management Inc. acquired a new position in shares of Steel Dynamics in the 4th quarter worth approximately $27,000. Cedar Mountain Advisors LLC acquired a new position in shares of Steel Dynamics in the 1st quarter worth approximately $31,000. DV Equities LLC bought a new position in shares of Steel Dynamics during the 4th quarter worth approximately $33,000. Finally, Torren Management LLC bought a new position in shares of Steel Dynamics during the 4th quarter worth approximately $34,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insiders Place Their Bets

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the senior vice president 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 6.60% of the company’s stock.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $255.77 on Friday. The business’s fifty day moving average is $248.68 and its two-hundred day moving average is $220.16. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 3.18. The firm has a market cap of $36.66 billion, a P/E ratio of 23.19, a P/E/G ratio of 0.49 and a beta of 1.52. Steel Dynamics, Inc. has a 52 week low of $124.77 and a 52 week high of $288.74.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.63 by $0.06. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The company had revenue of $6.09 billion during the quarter, compared to analyst estimates of $5.56 billion. During the same period last year, the company posted $2.01 earnings per share. The firm’s quarterly revenue was up 33.4% compared to the same quarter last year. Equities research analysts forecast that Steel Dynamics, Inc. will post 17.16 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on STLD. KeyCorp reiterated an “overweight” rating on shares of Steel Dynamics in a research report on Wednesday, July 22nd. Weiss Ratings raised Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. The Goldman Sachs Group assumed coverage on shares of Steel Dynamics in a research note on Wednesday, July 29th. They issued a “buy” rating and a $300.00 target price on the stock. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Finally, Wells Fargo & Company dropped their target price on shares of Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating for the company in a research report on Wednesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Steel Dynamics currently has an average rating of “Moderate Buy” and a consensus target price of $259.09.

About Steel Dynamics

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.