Steel Dynamics, Inc. $STLD Holdings Lowered by Private Advisor Group LLC

Private Advisor Group LLC decreased its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 89.9% in the first quarter, HoldingsChannel reports. The firm owned 1,335 shares of the basic materials company’s stock after selling 11,924 shares during the period. Private Advisor Group LLC’s holdings in Steel Dynamics were worth $240,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of STLD. Jacobi Capital Management LLC lifted its stake in Steel Dynamics by 1.6% during the fourth quarter. Jacobi Capital Management LLC now owns 3,533 shares of the basic materials company’s stock valued at $599,000 after buying an additional 55 shares in the last quarter. Optas LLC boosted its holdings in shares of Steel Dynamics by 3.0% in the fourth quarter. Optas LLC now owns 1,979 shares of the basic materials company’s stock worth $335,000 after buying an additional 58 shares during the period. Hohimer Wealth Management LLC increased its position 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 acquiring an additional 61 shares in the last quarter. Wright Investors Service Inc. increased its position 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 acquiring an additional 64 shares in the last quarter. Finally, Kestra Private Wealth Services LLC raised 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 acquiring an additional 64 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Activity at Steel Dynamics

In other news, Director Kenneth W. Cornew sold 5,000 shares of the business’s stock in a transaction on 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 in the company, valued at $7,038,206.13. The trade was a 13.77% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP James Stanley Anderson sold 10,000 shares of the company’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the completion of the transaction, the senior vice president directly owned 102,837 shares in the company, valued at $27,632,301.90. This trade represents a 8.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 22,125 shares of company stock worth $5,438,226. Corporate insiders own 6.60% of the company’s stock.

Steel Dynamics Price Performance

NASDAQ STLD opened at $235.51 on Monday. The company has a 50 day simple moving average of $245.95 and a 200-day simple moving average of $209.05. The company has a debt-to-equity ratio of 0.46, a current ratio of 3.13 and a quick ratio of 1.33. The firm has a market capitalization of $34.08 billion, a price-to-earnings ratio of 25.19, a price-to-earnings-growth ratio of 0.45 and a beta of 1.53. Steel Dynamics, Inc. has a 52-week low of $119.89 and a 52-week high of $288.74.

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 analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the previous year, the firm posted $1.44 earnings per share. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. Equities research analysts predict that Steel Dynamics, Inc. will post 16.92 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

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

Analyst Upgrades and Downgrades

Several brokerages recently commented on STLD. Weiss Ratings upgraded shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. Citigroup lifted their price objective on shares of Steel Dynamics from $180.00 to $255.00 and gave the stock a “buy” rating in a research report on Wednesday, April 22nd. Barclays assumed coverage on shares of Steel Dynamics in a research note on Thursday, May 21st. They set an “overweight” rating and a $270.00 target price on the stock. Bank of America reduced their target price on Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating for the company in a report on Thursday, July 9th. Finally, JPMorgan Chase & Co. decreased their target price on Steel Dynamics from $262.00 to $256.00 and set a “neutral” rating for the company in a research report on Wednesday, July 15th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $239.18.

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.