Baer Investment Advisory LLC Buys Shares of 3,047 Steel Dynamics, Inc. $STLD

Baer Investment Advisory LLC purchased a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the 1st quarter, Holdings Channel.com reports. The fund purchased 3,047 shares of the basic materials company’s stock, valued at approximately $548,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Sierra Summit Advisors LLC increased its position in Steel Dynamics by 5.7% during the first quarter. Sierra Summit Advisors LLC now owns 65,894 shares of the basic materials company’s stock valued at $11,861,000 after acquiring an additional 3,560 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Steel Dynamics in the first quarter worth about $519,000. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in Steel Dynamics by 17.1% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 97,937 shares of the basic materials company’s stock worth $17,629,000 after purchasing an additional 14,300 shares during the last quarter. Elevation Point Wealth Partners LLC bought a new stake in shares of Steel Dynamics during the 1st quarter valued at about $1,027,000. Finally, James Investment Research Inc. grew its stake in shares of Steel Dynamics by 39.1% during the 1st quarter. James Investment Research Inc. now owns 10,828 shares of the basic materials company’s stock valued at $1,949,000 after purchasing an additional 3,041 shares during the period. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on STLD. Jefferies Financial Group reiterated a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. Wells Fargo & Company cut their target price on shares of Steel Dynamics from $293.00 to $291.00 and set an “overweight” rating for the company in a research report on Thursday, June 18th. KeyCorp upped their target price on shares of Steel Dynamics from $241.00 to $262.00 and gave the company an “overweight” rating in a report on Wednesday, June 24th. Citigroup upped their target price on shares of Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. Finally, BMO Capital Markets increased their price target on shares of Steel Dynamics from $195.00 to $240.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 22nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Steel Dynamics currently has a consensus rating of “Moderate Buy” and an average target price of $236.36.

Insider Activity

In other Steel Dynamics news, SVP Miguel Alvarez sold 4,825 shares of the stock in a transaction on 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 completion of the sale, the senior vice president owned 122,257 shares in the company, valued at approximately $27,578,734.06. This represents a 3.80% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kenneth W. Cornew sold 5,000 shares of the firm’s stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total value of $1,124,350.00. Following the sale, the director directly owned 31,299 shares in the company, valued at approximately $7,038,206.13. This represents a 13.77% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 22,125 shares of company stock valued at $5,438,226. 6.60% of the stock is currently owned by company insiders.

Steel Dynamics Price Performance

STLD stock opened at $220.39 on Friday. The business’s 50-day moving average price is $245.84 and its 200-day moving average price is $204.81. The stock has a market cap of $31.89 billion, a P/E ratio of 23.57, a PEG ratio of 0.43 and a beta of 1.53. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. Steel Dynamics, Inc. has a twelve month low of $119.89 and a twelve month high of $288.74.

Steel Dynamics (NASDAQ:STLD) last released 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 return on equity of 15.54% and a net margin of 7.22%.The firm had revenue of $5.20 billion during the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the prior year, the company posted $1.44 earnings per share. The company’s revenue was up 19.1% compared to the same quarter last year. On average, equities research 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. Stockholders of record on Tuesday, June 30th will be paid a $0.53 dividend. The ex-dividend date of this dividend is Tuesday, June 30th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.0%. Steel Dynamics’s dividend payout ratio is 22.67%.

Steel Dynamics Company 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.