Steel Dynamics, Inc. $STLD Shares Acquired by Forum Financial Management LP

Forum Financial Management LP lifted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 2.5% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 4,524 shares of the basic materials company’s stock after purchasing an additional 109 shares during the quarter. Forum Financial Management LP’s holdings in Steel Dynamics were worth $579,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Financial Gravity Asset Management Inc. acquired a new stake in shares of Steel Dynamics during the first quarter worth about $25,000. Cary Street Partners Investment Advisory LLC lifted its position in shares of Steel Dynamics by 493.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 163 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new stake in shares of Steel Dynamics during the second quarter worth about $30,000. Zions Bancorporation National Association UT acquired a new stake in shares of Steel Dynamics during the first quarter worth about $32,000. Finally, WPG Advisers LLC acquired a new stake in Steel Dynamics in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Buying and Selling

In related news, SVP Christopher A. Graham sold 12,000 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were 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 owned 66,738 shares in the company, valued at $8,456,371.98. This represents a 15.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 6.30% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several analysts recently weighed in on STLD shares. BMO Capital Markets raised their target price on shares of Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a report on Wednesday. JPMorgan Chase & Co. raised their target price on shares of Steel Dynamics from $150.00 to $160.00 and gave the company a “neutral” rating in a report on Monday, October 13th. Wells Fargo & Company raised their target price on shares of Steel Dynamics from $150.00 to $169.00 and gave the company an “overweight” rating in a report on Wednesday. UBS Group set a $158.00 target price on shares of Steel Dynamics and gave the company a “buy” rating in a report on Tuesday. Finally, Jefferies Financial Group raised their target price on shares of Steel Dynamics from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $162.44.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock opened at $152.95 on Friday. The firm has a market capitalization of $22.52 billion, a P/E ratio of 20.26, a P/E/G ratio of 1.26 and a beta of 1.40. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $156.24. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43. The firm’s 50 day moving average is $137.91 and its two-hundred day moving average is $131.80.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Monday, October 20th. The basic materials company reported $2.74 EPS for the quarter, beating the consensus estimate of $2.63 by $0.11. The company had revenue of $4.83 billion for the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.93%. The firm’s revenue was up 11.2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.05 earnings per share. Research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were given a $0.50 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $2.00 annualized dividend and a yield of 1.3%. Steel Dynamics’s dividend payout ratio is 26.49%.

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.