Steel Dynamics, Inc. $STLD Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC lowered its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 89.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,335 shares of the basic materials company’s stock after selling 11,924 shares during the quarter. Private Advisor Group LLC’s holdings in Steel Dynamics were worth $240,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Jacobi Capital Management LLC raised its stake in Steel Dynamics by 1.6% during the 4th quarter. Jacobi Capital Management LLC now owns 3,533 shares of the basic materials company’s stock valued at $599,000 after acquiring an additional 55 shares in the last quarter. Optas LLC boosted its position in Steel Dynamics by 3.0% during the 4th quarter. Optas LLC now owns 1,979 shares of the basic materials company’s stock worth $335,000 after acquiring an additional 58 shares during the period. Hohimer Wealth Management LLC grew its stake in shares of Steel Dynamics by 1.1% in the fourth quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company’s stock worth $967,000 after purchasing an additional 61 shares in the last quarter. Wright Investors Service Inc. grew its stake in shares of Steel Dynamics by 1.2% in the fourth quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company’s stock worth $941,000 after purchasing an additional 64 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its holdings in shares of Steel Dynamics by 2.7% during the first quarter. Kestra Private Wealth Services LLC now owns 2,396 shares of the basic materials company’s stock valued at $431,000 after purchasing an additional 64 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. Citigroup lifted their price objective on shares of Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. KeyCorp increased their target price on shares of Steel Dynamics from $241.00 to $262.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Wells Fargo & Company lowered their target price on shares of Steel Dynamics from $293.00 to $291.00 and set an “overweight” rating on the stock in a research note on Thursday, June 18th. Morgan Stanley boosted their price target on shares of Steel Dynamics from $227.00 to $270.00 and gave the stock an “equal weight” rating in a research report on Monday, June 22nd. Finally, Weiss Ratings raised shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $239.18.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $235.51 on Monday. The stock has a 50-day simple moving average of $245.95 and a 200 day simple moving average of $209.05. The stock has a market capitalization of $34.08 billion, a P/E ratio of 25.19, a P/E/G ratio of 0.45 and a beta of 1.53. Steel Dynamics, Inc. has a fifty-two week low of $119.89 and a fifty-two week high of $288.74. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The business had revenue of $5.20 billion during the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter last year, the firm posted $1.44 earnings per share. Steel Dynamics’s revenue was up 19.1% compared to the same quarter last year. On average, sell-side analysts expect that Steel Dynamics, Inc. will post 16.92 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were issued a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Tuesday, June 30th. Steel Dynamics’s payout ratio is presently 22.67%.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Richard A. Poinsatte sold 2,300 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the completion of the sale, the senior vice president directly owned 28,618 shares in the company, valued at approximately $6,699,759.98. This trade represents a 7.44% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Miguel Alvarez sold 4,825 shares of Steel Dynamics stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the completion of the transaction, the senior vice president owned 122,257 shares in the company, valued at approximately $27,578,734.06. This trade represents a 3.80% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 22,125 shares of company stock valued at $5,438,226 over the last quarter. Company insiders own 6.60% of the company’s stock.

Steel Dynamics 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.