Advisory Services Network LLC Purchases 5,569 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Advisory Services Network LLC raised its position in Steel Dynamics, Inc. (NASDAQ:STLDFree Report) by 25.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 27,609 shares of the basic materials company’s stock after buying an additional 5,569 shares during the quarter. Advisory Services Network LLC’s holdings in Steel Dynamics were worth $3,261,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in STLD. CVA Family Office LLC acquired a new position in Steel Dynamics during the fourth quarter worth about $28,000. Turtle Creek Wealth Advisors LLC acquired a new position in Steel Dynamics during the 4th quarter worth approximately $29,000. Lindbrook Capital LLC lifted its stake in Steel Dynamics by 117.5% in the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 134 shares during the last quarter. Exchange Traded Concepts LLC bought a new position in Steel Dynamics in the 4th quarter valued at approximately $44,000. Finally, Denali Advisors LLC boosted its position in Steel Dynamics by 99.0% in the fourth quarter. Denali Advisors LLC now owns 406 shares of the basic materials company’s stock valued at $48,000 after buying an additional 202 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Insider Activity at Steel Dynamics

In related news, SVP Christopher A. Graham sold 21,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the completion of the sale, 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 Securities & Exchange Commission, which is available at the SEC website. 6.00% of the stock is owned by corporate insiders.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $133.34 on Monday. The stock has a market capitalization of $20.95 billion, a PE ratio of 9.16 and a beta of 1.47. The business’s 50 day simple moving average is $138.76 and its 200 day simple moving average is $126.42. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55. Steel Dynamics, Inc. has a one year low of $90.55 and a one year high of $151.34.

Steel Dynamics (NASDAQ:STLDGet Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, beating 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 net margin of 12.89% and a return on equity of 27.62%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the firm posted $4.01 EPS. As a group, research analysts forecast that Steel Dynamics, Inc. will post 12.44 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Sunday, June 30th will be paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Friday, June 28th. Steel Dynamics’s dividend payout ratio is 12.64%.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. BMO Capital Markets increased their price target on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, March 18th. Citigroup increased their target price on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. Jefferies Financial Group started coverage on Steel Dynamics in a report on Monday, May 20th. They set a “hold” rating and a $150.00 price target on the stock. Finally, JPMorgan Chase & Co. upped their price objective on Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $125.29.

Read Our Latest Stock Report on Steel Dynamics

About Steel Dynamics

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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