Advisor Group Inc. grew its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 29.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,643 shares of the basic materials company’s stock after acquiring an additional 7,117 shares during the period. Advisor Group Inc.’s holdings in Steel Dynamics were worth $1,116,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. Parallel Advisors LLC purchased a new position in shares of Steel Dynamics in the first quarter valued at about $27,000. Ffcm LLC lifted its position in shares of Steel Dynamics by 59.3% in the fourth quarter. Ffcm LLC now owns 924 shares of the basic materials company’s stock valued at $28,000 after acquiring an additional 344 shares in the last quarter. SRS Capital Advisors Inc. lifted its position in shares of Steel Dynamics by 183.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 1,126 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 729 shares in the last quarter. JOYN Advisors Inc. lifted its position in shares of Steel Dynamics by 34.7% in the fourth quarter. JOYN Advisors Inc. now owns 1,164 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 300 shares in the last quarter. Finally, Aspire Private Capital LLC purchased a new position in shares of Steel Dynamics in the fourth quarter valued at about $37,000. Institutional investors and hedge funds own 81.38% of the company’s stock.
In related news, insider Glenn Pushis acquired 5,740 shares of the firm’s stock in a transaction on Wednesday, June 5th. The shares were acquired at an average cost of $26.13 per share, for a total transaction of $149,986.20. Following the completion of the transaction, the insider now directly owns 91,289 shares in the company, valued at approximately $2,385,381.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Russell B. Rinn acquired 2,000 shares of the firm’s stock in a transaction on Friday, May 31st. The shares were bought at an average price of $25.58 per share, for a total transaction of $51,160.00. Following the completion of the transaction, the insider now owns 220,459 shares of the company’s stock, valued at $5,639,341.22. The disclosure for this purchase can be found here. Insiders purchased 12,740 shares of company stock worth $336,296 over the last quarter. 4.90% of the stock is owned by company insiders.
NASDAQ:STLD opened at $26.03 on Thursday. The company has a current ratio of 4.02, a quick ratio of 2.15 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $5.79 billion, a P/E ratio of 4.74, a PEG ratio of 0.61 and a beta of 1.46. Steel Dynamics, Inc. has a 12 month low of $25.02 and a 12 month high of $49.91.
Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Monday, April 22nd. The basic materials company reported $0.91 EPS for the quarter, hitting analysts’ consensus estimates of $0.91. The company had revenue of $2.82 billion for the quarter, compared to the consensus estimate of $2.80 billion. Steel Dynamics had a return on equity of 33.56% and a net margin of 10.26%. The firm’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same period in the previous year, the business earned $0.96 earnings per share. On average, equities research analysts anticipate that Steel Dynamics, Inc. will post 3.57 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Sunday, June 30th will be given a $0.24 dividend. The ex-dividend date is Thursday, June 27th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.69%. Steel Dynamics’s dividend payout ratio is currently 17.49%.
Several brokerages have recently commented on STLD. Deutsche Bank downgraded Steel Dynamics from a “buy” rating to a “hold” rating and lowered their price objective for the company from $44.00 to $30.00 in a research report on Thursday, May 30th. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $35.50 to $47.00 in a research report on Wednesday, May 8th. Goldman Sachs Group lowered their price objective on Steel Dynamics from $44.00 to $36.00 and set a “buy” rating on the stock in a research report on Tuesday, June 4th. BidaskClub downgraded Steel Dynamics from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 13th. Finally, Zacks Investment Research upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Wednesday, March 6th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $42.54.
About Steel Dynamics
Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.
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