Steel Dynamics, Inc. $STLD Shares Bought by Cetera Investment Advisers

Cetera Investment Advisers grew its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 8.5% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 47,298 shares of the basic materials company’s stock after buying an additional 3,689 shares during the period. Cetera Investment Advisers’ holdings in Steel Dynamics were worth $8,514,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Prosperity Bancshares Inc acquired a new stake in Steel Dynamics during the 4th quarter worth approximately $25,000. MV Capital Management Inc. acquired a new stake in shares of Steel Dynamics in the 4th quarter worth $27,000. Sound Income Strategies LLC lifted its stake in shares of Steel Dynamics by 1,500.0% in the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 150 shares during the period. Cedar Mountain Advisors LLC purchased a new stake in shares of Steel Dynamics in the first quarter valued at about $31,000. Finally, DV Equities LLC acquired a new position in shares of Steel Dynamics during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of 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. Bank of America cut their target price on Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, July 9th. Morgan Stanley reduced their price target on Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating for the company in a report on Wednesday, July 22nd. Wells Fargo & Company decreased their price target on Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating on the stock in a research note on Wednesday, July 22nd. Finally, Wall Street Zen raised Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Eight investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $249.00.

Insider Buying and Selling at Steel Dynamics

In related news, SVP James Stanley Anderson sold 10,000 shares of the business’s stock in a transaction dated 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 $27,632,301.90. The trade was a 8.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the 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 sale, the senior vice president directly owned 28,618 shares in the company, valued at approximately $6,699,759.98. The trade was a 7.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 6.60% of the stock is currently owned by corporate insiders.

Steel Dynamics Trading Down 0.5%

Shares of STLD opened at $251.26 on Friday. The company has a current ratio of 3.18, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45. The firm’s 50-day moving average is $248.64 and its two-hundred day moving average is $214.00. Steel Dynamics, Inc. has a twelve month low of $119.89 and a twelve month high of $288.74. The firm has a market capitalization of $36.01 billion, a P/E ratio of 22.78, a PEG ratio of 0.48 and a beta of 1.53.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.63 by $0.06. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The company had revenue of $6.09 billion during the quarter, compared to the consensus estimate of $5.56 billion. During the same period last year, the firm earned $2.01 EPS. The company’s revenue for the quarter was up 33.4% on a year-over-year basis. On average, research analysts predict that Steel Dynamics, Inc. will post 17.16 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th were issued a $0.53 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 0.8%. Steel Dynamics’s dividend payout ratio is 19.22%.

About Steel Dynamics

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.