Steel Dynamics, Inc. (NASDAQ:STLD) Holdings Raised by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 4.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,486 shares of the basic materials company’s stock after acquiring an additional 147 shares during the period. Flagship Harbor Advisors LLC’s holdings in Steel Dynamics were worth $436,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Steel Dynamics during the first quarter worth about $521,000. Manning & Napier Advisors LLC grew its holdings in shares of Steel Dynamics by 39.0% during the first quarter. Manning & Napier Advisors LLC now owns 29,895 shares of the basic materials company’s stock valued at $3,739,000 after purchasing an additional 8,391 shares during the last quarter. Praxis Investment Management Inc. raised its position in shares of Steel Dynamics by 63.5% during the 1st quarter. Praxis Investment Management Inc. now owns 3,090 shares of the basic materials company’s stock worth $386,000 after purchasing an additional 1,200 shares during the period. State of Alaska Department of Revenue lifted its holdings in shares of 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 purchasing an additional 435 shares during the last quarter. Finally, PKO Investment Management Joint Stock Co lifted its holdings in shares of Steel Dynamics by 34.0% in the 1st quarter. PKO Investment Management Joint Stock Co now owns 6,700 shares of the basic materials company’s stock worth $838,000 after purchasing an additional 1,700 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Stock Up 0.2%

STLD stock opened at $128.48 on Thursday. The firm’s 50-day moving average is $129.70 and its two-hundred day moving average is $126.09. The company has a market capitalization of $19.07 billion, a price-to-earnings ratio of 16.97, a price-to-earnings-growth ratio of 0.97 and a beta of 1.38. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $155.56. The company has a current ratio of 2.74, a quick ratio of 1.38 and a debt-to-equity ratio of 0.44.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.40 by $0.04. The business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.17 billion. Steel Dynamics had a net margin of 6.80% and a return on equity of 13.26%. During the same quarter last year, the business earned $3.67 earnings per share. On average, analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date is Monday, June 30th. Steel Dynamics’s dividend payout ratio is presently 26.42%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. JPMorgan Chase & Co. upped their price objective on Steel Dynamics from $135.00 to $138.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. BMO Capital Markets raised shares of Steel Dynamics from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $135.00 to $145.00 in a report on Monday, March 31st. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 price objective on the stock in a research report on Monday, March 24th. Wolfe Research upgraded shares of Steel Dynamics from an “underperform” rating to a “peer perform” rating in a research report on Thursday, February 27th. Finally, Morgan Stanley raised their price target on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $148.00.

Insider Activity

In other news, SVP Miguel Alvarez sold 7,495 shares of Steel Dynamics stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total value of $1,013,773.70. Following the transaction, the senior vice president now owns 125,319 shares of the company’s stock, valued at $16,950,647.94. The trade was a 5.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Gabriel Shaheen sold 1,254 shares of the business’s stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $134.11, for a total transaction of $168,173.94. Following the completion of the sale, the director now owns 81,812 shares in the company, valued at $10,971,807.32. The trade was a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.30% of the company’s stock.

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.