Wealthfront Advisers LLC Decreases Stock Holdings in Steel Dynamics, Inc. $STLD

Wealthfront Advisers LLC decreased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 12.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,722 shares of the basic materials company’s stock after selling 4,201 shares during the period. Wealthfront Advisers LLC’s holdings in Steel Dynamics were worth $3,805,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Nordea Investment Management AB lifted its holdings in shares of Steel Dynamics by 43.3% during the 2nd quarter. Nordea Investment Management AB now owns 2,088,372 shares of the basic materials company’s stock valued at $271,238,000 after buying an additional 630,935 shares during the period. OFI Invest Asset Management purchased a new stake in Steel Dynamics during the second quarter valued at $4,221,000. Geneos Wealth Management Inc. lifted its holdings in Steel Dynamics by 72.4% in the first quarter. Geneos Wealth Management Inc. now owns 1,143 shares of the basic materials company’s stock valued at $143,000 after acquiring an additional 480 shares during the period. Alpine Woods Capital Investors LLC lifted its holdings in Steel Dynamics by 10.4% in the second quarter. Alpine Woods Capital Investors LLC now owns 47,773 shares of the basic materials company’s stock valued at $6,115,000 after acquiring an additional 4,489 shares during the period. Finally, GAMMA Investing LLC boosted its position in Steel Dynamics by 47.9% in the first quarter. GAMMA Investing LLC now owns 3,579 shares of the basic materials company’s stock worth $448,000 after purchasing an additional 1,159 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Steel Dynamics in a research note on Wednesday, October 8th. KeyCorp upped their target price on shares of Steel Dynamics from $152.00 to $165.00 and gave the company an “overweight” rating in a report on Monday. Morgan Stanley lifted their price target on shares of Steel Dynamics from $145.00 to $173.00 and gave the stock an “overweight” rating in a research note on Friday, October 24th. Wells Fargo & Company boosted their price objective on shares of Steel Dynamics from $150.00 to $169.00 and gave the company an “overweight” rating in a research report on Wednesday, October 22nd. Finally, Jefferies Financial Group raised their target price on Steel Dynamics from $165.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, October 22nd. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $163.56.

Steel Dynamics Stock Performance

STLD opened at $161.07 on Wednesday. The company has a 50 day simple moving average of $139.21 and a two-hundred day simple moving average of $132.57. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.11 and a quick ratio of 1.34. The firm has a market cap of $23.52 billion, a P/E ratio of 21.33, a PEG ratio of 1.33 and a beta of 1.40. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $163.10.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Monday, October 20th. The basic materials company reported $2.74 earnings per share for the quarter, beating analysts’ consensus estimates of $2.63 by $0.11. The company had revenue of $4.83 billion for the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. Steel Dynamics’s revenue for the quarter was up 11.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.05 EPS. Equities analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th were paid a $0.50 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. Steel Dynamics’s dividend payout ratio is 26.49%.

Steel Dynamics 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.