Apollon Wealth Management LLC Acquires 3,135 Shares of Steel Dynamics, Inc. $STLD

Apollon Wealth Management LLC lifted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 74.3% in the 1st quarter, HoldingsChannel reports. The firm owned 7,353 shares of the basic materials company’s stock after acquiring an additional 3,135 shares during the period. Apollon Wealth Management LLC’s holdings in Steel Dynamics were worth $1,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of STLD. Fisher Asset Management LLC grew its holdings in Steel Dynamics by 47.2% during the third quarter. Fisher Asset Management LLC now owns 34,878 shares of the basic materials company’s stock valued at $4,863,000 after purchasing an additional 11,183 shares during the period. Strs Ohio raised its stake in shares of Steel Dynamics by 7.3% in the fourth quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock worth $26,075,000 after buying an additional 10,519 shares during the period. Concentric Capital Strategies LP bought a new position in shares of Steel Dynamics in the third quarter worth about $24,349,000. Robeco Institutional Asset Management B.V. lifted its position in shares of Steel Dynamics by 3.7% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock valued at $340,289,000 after buying an additional 72,122 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Steel Dynamics by 1.0% during the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,046,791 shares of the basic materials company’s stock valued at $145,953,000 after acquiring an additional 10,537 shares during the period. 82.41% of the stock is owned by institutional investors.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,300 shares of the business’s stock in a transaction on Tuesday, May 12th. The shares were 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kenneth W. Cornew sold 5,000 shares of the stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the transaction, the director directly owned 31,299 shares of the company’s stock, valued at $7,038,206.13. This trade represents a 13.77% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 22,125 shares of company stock worth $5,438,226 in the last three months. Insiders own 6.60% of the company’s stock.

Steel Dynamics Stock Down 0.6%

Shares of STLD opened at $220.39 on Friday. The business’s 50 day moving average is $245.99 and its 200 day moving average is $204.70. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46. Steel Dynamics, Inc. has a 12-month low of $119.89 and a 12-month high of $288.74. The company has a market capitalization of $31.89 billion, a PE ratio of 23.57, a price-to-earnings-growth ratio of 0.43 and a beta of 1.53.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share 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 in the previous year, the company earned $1.44 earnings per share. The company’s revenue for the quarter was up 19.1% compared to the same quarter last year. Research analysts expect that Steel Dynamics, Inc. will post 16.78 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be given a dividend of $0.53 per share. The ex-dividend date is Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.0%. Steel Dynamics’s dividend payout ratio is currently 22.67%.

Wall Street Analyst Weigh In

STLD has been the subject of several analyst reports. Barclays initiated coverage on shares of Steel Dynamics in a report on Thursday, May 21st. They issued an “overweight” rating and a $270.00 target price for the company. JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a report on Tuesday, April 14th. KeyCorp increased their price objective on shares of Steel Dynamics from $241.00 to $262.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 24th. Morgan Stanley raised their price objective on shares of Steel Dynamics from $227.00 to $270.00 and gave the company an “equal weight” rating in a research report on Monday, June 22nd. Finally, Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $236.36.

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.