Phillips Financial Management LLC Acquires Shares of 3,663 Steel Dynamics, Inc. $STLD

Phillips Financial Management LLC bought a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,663 shares of the basic materials company’s stock, valued at approximately $841,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Prosperity Bancshares Inc acquired a new position in shares of Steel Dynamics during the fourth quarter valued at $25,000. MV Capital Management Inc. bought a new position in Steel Dynamics in the fourth quarter valued at about $27,000. Cedar Mountain Advisors LLC acquired a new stake in Steel Dynamics in the first quarter worth about $31,000. DV Equities LLC acquired a new stake in Steel Dynamics in the fourth quarter worth about $33,000. Finally, Torren Management LLC bought a new stake in Steel Dynamics during the 4th quarter worth about $34,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $255.77 on Friday. The stock has a market cap of $36.66 billion, a PE ratio of 23.19, a price-to-earnings-growth ratio of 0.49 and a beta of 1.52. The stock has a 50-day moving average of $248.68 and a 200-day moving average of $220.16. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.18 and a quick ratio of 1.45. Steel Dynamics, Inc. has a one year low of $124.77 and a one year high of $288.74.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, topping the consensus estimate of $3.63 by $0.06. The business had revenue of $6.09 billion for the quarter, compared to analyst estimates of $5.56 billion. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. Steel Dynamics’s quarterly revenue was up 33.4% compared to the same quarter last year. During the same quarter last year, the firm earned $2.01 EPS. As a group, sell-side analysts expect that Steel Dynamics, Inc. will post 17.16 earnings per share for the current year.

Insiders Place Their Bets

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of the 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 sale, 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on STLD. Bank of America reduced their target price on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating on the stock in a research note on Thursday, July 9th. Morgan Stanley reduced their price objective on shares of Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 22nd. JPMorgan Chase & Co. lifted their target price on shares of Steel Dynamics from $256.00 to $260.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Barclays upped their target price on shares of Steel Dynamics from $270.00 to $272.00 and gave the company an “overweight” rating in a research report on Wednesday, July 22nd. Finally, The Goldman Sachs Group initiated coverage on Steel Dynamics in a research note on Wednesday, July 29th. They issued a “buy” rating and a $300.00 price target on the stock. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, Steel Dynamics currently has an average rating of “Moderate Buy” and an average price target of $259.09.

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.