Steel Dynamics, Inc. $STLD Shares Purchased by Sierra Summit Advisors LLC

Sierra Summit Advisors LLC increased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1,894.7% in the fourth quarter, Holdings Channel reports. The firm owned 62,334 shares of the basic materials company’s stock after buying an additional 59,209 shares during the quarter. Steel Dynamics accounts for 1.6% of Sierra Summit Advisors LLC’s investment portfolio, making the stock its 24th biggest holding. Sierra Summit Advisors LLC’s holdings in Steel Dynamics were worth $10,562,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of STLD. NewEdge Advisors LLC boosted its stake in Steel Dynamics by 307.5% during the 1st quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock worth $102,000 after purchasing an additional 618 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Steel Dynamics by 82.7% in the 1st quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock worth $435,000 after acquiring an additional 1,578 shares during the period. Jump Financial LLC acquired a new stake in shares of Steel Dynamics in the 2nd quarter worth $1,019,000. Qube Research & Technologies Ltd acquired a new stake in shares of Steel Dynamics in the 2nd quarter worth $48,746,000. Finally, Sei Investments Co. lifted its stake in shares of Steel Dynamics by 7.9% in the 2nd quarter. Sei Investments Co. now owns 105,051 shares of the basic materials company’s stock worth $13,447,000 after acquiring an additional 7,712 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Up 2.2%

Shares of NASDAQ STLD opened at $228.30 on Thursday. 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, Inc. has a 52 week low of $119.89 and a 52 week high of $243.73. The firm has a 50-day moving average price of $200.47 and a 200 day moving average price of $184.06. The stock has a market capitalization of $33.04 billion, a price-to-earnings ratio of 24.42, a price-to-earnings-growth ratio of 0.48 and a beta of 1.48.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data 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 net margin of 7.22% and a return on equity of 15.54%. The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.39 billion. During the same quarter last year, the business earned $1.44 EPS. The firm’s revenue for the quarter was up 19.1% on a year-over-year basis. Equities research analysts anticipate that Steel Dynamics, Inc. will post 14.77 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.9%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio (DPR) is 22.67%.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Richard A. Poinsatte sold 2,300 shares of the firm’s stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Miguel Alvarez sold 4,825 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the transaction, the senior vice president owned 122,257 shares of the company’s stock, valued at $27,578,734.06. This trade represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 12,125 shares of company stock worth $2,751,227. 6.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on STLD shares. Wall Street Zen upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. Bank of America cut shares of Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 target price for the company. in a research note on Thursday, April 30th. KeyCorp raised their price objective on shares of Steel Dynamics from $190.00 to $241.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Jefferies Financial Group reiterated a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Finally, Morgan Stanley reiterated an “underperform” rating and issued a $190.00 price objective on shares of Steel Dynamics in a research note on Tuesday, March 17th. Six research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $214.30.

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.