Advisory Services Network LLC Buys 15,155 Shares of Steel Dynamics, Inc. $STLD

Advisory Services Network LLC boosted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 35.2% in the second quarter, HoldingsChannel reports. The firm owned 58,186 shares of the basic materials company’s stock after acquiring an additional 15,155 shares during the period. Advisory Services Network LLC’s holdings in Steel Dynamics were worth $7,422,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Trust Co. of Toledo NA OH bought a new stake in shares of Steel Dynamics in the second quarter worth $30,000. WPG Advisers LLC bought a new stake in shares of Steel Dynamics during the 1st quarter valued at about $32,000. Rosenberg Matthew Hamilton increased its position in shares of Steel Dynamics by 306.2% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 199 shares during the last quarter. True Wealth Design LLC lifted its stake in shares of Steel Dynamics by 120.4% in the 2nd quarter. True Wealth Design LLC now owns 324 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 177 shares during the period. Finally, Colonial Trust Advisors purchased a new position in shares of Steel Dynamics in the first quarter worth approximately $45,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. KeyCorp lifted their price target on shares of Steel Dynamics from $152.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. The Goldman Sachs Group set a $172.00 target price on Steel Dynamics and gave the company a “neutral” rating in a research report on Friday, October 31st. Citigroup upped their price target on Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. BMO Capital Markets lifted their price objective on Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research report on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a report on Monday, December 8th. Seven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.89.

Steel Dynamics Trading Down 0.6%

STLD stock opened at $171.97 on Monday. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.11 and a quick ratio of 1.47. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $174.31. The business has a 50 day simple moving average of $156.48 and a two-hundred day simple moving average of $140.32. The company has a market capitalization of $25.11 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 1.25 and a beta of 1.46.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, October 21st. The basic materials company reported $2.74 EPS for the quarter, topping the consensus estimate of $2.63 by $0.11. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The firm had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the firm earned $2.05 earnings per share. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. Research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.2%. Steel Dynamics’s dividend payout ratio (DPR) is presently 26.49%.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Miguel Alvarez sold 8,251 shares of Steel Dynamics stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total value of $1,343,180.29. Following the sale, the senior vice president directly owned 117,068 shares of the company’s stock, valued at approximately $19,057,499.72. The trade was a 6.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.30% of the stock is currently owned by insiders.

About Steel Dynamics

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.