Steel Dynamics, Inc. (NASDAQ:STLD) Shares Purchased by Financial Partners Group LLC

Financial Partners Group LLC boosted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 19.3% during the 3rd quarter, Holdings Channel.com reports. The firm owned 13,269 shares of the basic materials company’s stock after acquiring an additional 2,148 shares during the period. Financial Partners Group LLC’s holdings in Steel Dynamics were worth $1,673,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Nordea Investment Management AB increased its stake in shares of Steel Dynamics by 2.5% during the first quarter. Nordea Investment Management AB now owns 1,034,133 shares of the basic materials company’s stock worth $153,290,000 after buying an additional 25,280 shares during the period. SG Americas Securities LLC raised its holdings in shares of Steel Dynamics by 1,498.4% in the 1st quarter. SG Americas Securities LLC now owns 29,730 shares of the basic materials company’s stock valued at $4,407,000 after purchasing an additional 27,870 shares in the last quarter. Trustmark National Bank Trust Department grew its stake in shares of Steel Dynamics by 126.6% during the first quarter. Trustmark National Bank Trust Department now owns 7,134 shares of the basic materials company’s stock worth $1,057,000 after purchasing an additional 3,986 shares in the last quarter. Bessemer Group Inc. increased its holdings in Steel Dynamics by 2,679.3% in the first quarter. Bessemer Group Inc. now owns 10,867 shares of the basic materials company’s stock valued at $1,611,000 after buying an additional 10,476 shares during the last quarter. Finally, LBP AM SA raised its stake in Steel Dynamics by 26.5% in the first quarter. LBP AM SA now owns 21,966 shares of the basic materials company’s stock valued at $3,256,000 after buying an additional 4,599 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Activity

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the business’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the sale, the senior vice president now directly owns 146,693 shares in the company, valued at approximately $19,523,371.37. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on STLD. BMO Capital Markets upped their price objective on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price target for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Morgan Stanley dropped their target price on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. Finally, UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $144.29.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $130.34 on Friday. The business’s 50-day moving average price is $121.95 and its 200 day moving average price is $127.06. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The firm has a market cap of $20.11 billion, a P/E ratio of 11.80 and a beta of 1.31. Steel Dynamics, Inc. has a 52-week low of $99.01 and a 52-week high of $151.34.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same quarter in the previous year, the company posted $3.47 earnings per share. The company’s revenue for the quarter was down 5.4% compared to the same quarter last year. On average, equities research analysts expect that Steel Dynamics, Inc. will post 10.22 earnings per share for the current year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.41%. The ex-dividend date was Monday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is 16.65%.

Steel Dynamics Company 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.