Prime Capital Investment Advisors LLC Lowers Holdings in Steel Dynamics, Inc. $STLD

Prime Capital Investment Advisors LLC cut its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 23.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,801 shares of the basic materials company’s stock after selling 1,450 shares during the period. Prime Capital Investment Advisors LLC’s holdings in Steel Dynamics were worth $615,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in STLD. Ritholtz Wealth Management increased its stake in Steel Dynamics by 24.4% in the 1st quarter. Ritholtz Wealth Management now owns 6,687 shares of the basic materials company’s stock worth $836,000 after acquiring an additional 1,310 shares during the last quarter. Farther Finance Advisors LLC increased its stake in Steel Dynamics by 10.4% in the 1st quarter. Farther Finance Advisors LLC now owns 1,535 shares of the basic materials company’s stock worth $190,000 after acquiring an additional 145 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in Steel Dynamics by 31.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,511 shares of the basic materials company’s stock worth $3,441,000 after acquiring an additional 6,604 shares during the last quarter. Golden State Wealth Management LLC increased its stake in Steel Dynamics by 124.1% in the 1st quarter. Golden State Wealth Management LLC now owns 948 shares of the basic materials company’s stock worth $119,000 after acquiring an additional 525 shares during the last quarter. Finally, State of Alaska Department of Revenue increased its stake in Steel Dynamics by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 16,583 shares of the basic materials company’s stock worth $2,074,000 after acquiring an additional 435 shares during the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the company’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total value of $1,520,520.00. Following the completion of the sale, the senior vice president directly owned 66,738 shares in the company, valued at approximately $8,456,371.98. This represents a 15.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

A number of research firms have issued reports on STLD. Wells Fargo & Company lifted their price objective on Steel Dynamics from $143.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, September 15th. JPMorgan Chase & Co. lifted their price objective on Steel Dynamics from $138.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, July 14th. Morgan Stanley boosted their target price on Steel Dynamics from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, June 20th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Steel Dynamics in a research report on Wednesday. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $148.78.

Steel Dynamics Price Performance

Shares of STLD stock opened at $147.78 on Friday. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56. The stock has a market capitalization of $21.75 billion, a price-to-earnings ratio of 21.54, a P/E/G ratio of 1.19 and a beta of 1.40. The stock has a fifty day simple moving average of $132.87 and a two-hundred day simple moving average of $129.83. The company has a current ratio of 3.13, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.04). Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%.The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same quarter in the prior year, the company posted $2.72 earnings per share. Steel Dynamics’s quarterly revenue was down 1.5% compared to the same quarter last year. On average, analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Steel Dynamics’s dividend payout ratio is currently 29.15%.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.