Financial Partners Group LLC Invests $1.45 Million in Steel Dynamics, Inc. (NASDAQ:STLD)

Financial Partners Group LLC acquired a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the 1st quarter, HoldingsChannel reports. The institutional investor acquired 9,802 shares of the basic materials company’s stock, valued at approximately $1,453,000.

Several other hedge funds also recently bought and sold shares of STLD. Norges Bank bought a new stake in Steel Dynamics during the fourth quarter valued at approximately $221,817,000. Ameriprise Financial Inc. lifted its position in Steel Dynamics by 165.4% during the third quarter. Ameriprise Financial Inc. now owns 2,014,956 shares of the basic materials company’s stock valued at $212,447,000 after purchasing an additional 1,255,751 shares during the last quarter. Sapient Capital LLC bought a new stake in Steel Dynamics during the fourth quarter valued at approximately $38,644,000. AEGON ASSET MANAGEMENT UK Plc bought a new stake in Steel Dynamics during the fourth quarter valued at approximately $14,762,000. Finally, Schroder Investment Management Group lifted its position in Steel Dynamics by 15.3% during the fourth quarter. Schroder Investment Management Group now owns 743,697 shares of the basic materials company’s stock valued at $87,831,000 after purchasing an additional 98,764 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on STLD shares. Jefferies Financial Group started coverage on shares of Steel Dynamics in a research report on Monday, May 20th. They set a “hold” rating and a $150.00 target price for the company. BMO Capital Markets lowered their price objective on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a report on Tuesday, June 18th. Bank of America lowered their price objective on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday. Citigroup boosted their price objective on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $129.63.

Steel Dynamics Trading Up 3.9 %

Shares of NASDAQ STLD traded up $4.89 during mid-day trading on Friday, hitting $129.50. The stock had a trading volume of 2,428,798 shares, compared to its average volume of 1,469,828. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.55 and a current ratio of 2.87. Steel Dynamics, Inc. has a 1 year low of $95.53 and a 1 year high of $151.34. The business has a 50 day moving average price of $130.28 and a two-hundred day moving average price of $128.83. The firm has a market cap of $20.35 billion, a P/E ratio of 8.89 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.54 by $0.13. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.01 earnings per share. On average, equities analysts anticipate that Steel Dynamics, Inc. will post 11.64 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Sunday, June 30th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend is Friday, June 28th. Steel Dynamics’s payout ratio is currently 12.64%.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Christopher A. Graham sold 21,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the transaction, the senior vice president now directly owns 60,415 shares of the company’s stock, valued at approximately $8,265,376.15. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 6.00% of the company’s stock.

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.