Apollon Wealth Management LLC Buys 3,135 Shares of Steel Dynamics, Inc. $STLD

Apollon Wealth Management LLC lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 74.3% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 7,353 shares of the basic materials company’s stock after buying an additional 3,135 shares during the quarter. Apollon Wealth Management LLC’s holdings in Steel Dynamics were worth $1,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of the stock. Fisher Asset Management LLC lifted its position in Steel Dynamics by 47.2% during the 3rd quarter. Fisher Asset Management LLC now owns 34,878 shares of the basic materials company’s stock valued at $4,863,000 after acquiring an additional 11,183 shares during the period. Strs Ohio grew its holdings in Steel Dynamics by 7.3% in the fourth quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock worth $26,075,000 after purchasing an additional 10,519 shares during the period. Concentric Capital Strategies LP bought a new position in shares of Steel Dynamics during the third quarter valued at approximately $24,349,000. Robeco Institutional Asset Management B.V. increased its stake in shares of Steel Dynamics by 3.7% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 2,008,199 shares of the basic materials company’s stock valued at $340,289,000 after purchasing an additional 72,122 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Steel Dynamics by 1.0% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,046,791 shares of the basic materials company’s stock valued at $145,953,000 after purchasing an additional 10,537 shares during the last quarter. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Price Performance

NASDAQ STLD opened at $220.39 on Friday. Steel Dynamics, Inc. has a one year low of $119.89 and a one year high of $288.74. The stock has a 50-day moving average of $245.99 and a 200 day moving average of $204.70. The company has a market capitalization of $31.89 billion, a price-to-earnings ratio of 23.57, a PEG ratio of 0.43 and a beta of 1.53. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.79 by ($0.01). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The company had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same quarter in the prior year, the company posted $1.44 EPS. Steel Dynamics’s revenue was up 19.1% on a year-over-year basis. On average, sell-side analysts forecast that Steel Dynamics, Inc. will post 16.78 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.12 annualized dividend and a dividend yield of 1.0%. Steel Dynamics’s payout ratio is presently 22.67%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Wells Fargo & Company dropped their price target on Steel Dynamics from $293.00 to $291.00 and set an “overweight” rating on the stock in a research report on Thursday, June 18th. BMO Capital Markets lifted their price target on Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. Weiss Ratings upgraded shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research note on Thursday, June 18th. KeyCorp increased their price objective on shares of Steel Dynamics from $241.00 to $262.00 and gave the company an “overweight” rating in a research report on Wednesday, June 24th. Finally, Barclays assumed coverage on shares of Steel Dynamics in a research note on Thursday, May 21st. They set an “overweight” rating and a $270.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $236.36.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 4,825 shares of the stock in a transaction dated Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total value of $1,088,423.50. Following the transaction, the senior vice president owned 122,257 shares of the company’s stock, valued at approximately $27,578,734.06. This represents a 3.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Richard A. Poinsatte sold 2,300 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total value of $538,453.00. Following the completion of the transaction, the senior vice president directly owned 28,618 shares in the company, valued at $6,699,759.98. The trade was a 7.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 22,125 shares of company stock worth $5,438,226 in the last three months. 6.60% of the stock is owned by insiders.

Steel Dynamics Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.