Denali Advisors LLC Acquires 107 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Denali Advisors LLC grew its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 26.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 513 shares of the basic materials company’s stock after purchasing an additional 107 shares during the quarter. Denali Advisors LLC’s holdings in Steel Dynamics were worth $76,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in STLD. CVA Family Office LLC purchased a new stake in Steel Dynamics in the 4th quarter worth about $28,000. Turtle Creek Wealth Advisors LLC purchased a new position in shares of Steel Dynamics during the fourth quarter worth approximately $29,000. Lindbrook Capital LLC lifted its holdings in shares of Steel Dynamics by 117.5% in the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 134 shares during the last quarter. Security National Bank purchased a new stake in shares of Steel Dynamics in the 4th quarter valued at $30,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of Steel Dynamics in the 4th quarter valued at $44,000. 82.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Christopher A. Graham sold 21,000 shares of the stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the sale, the senior vice president now directly owns 60,415 shares of the company’s stock, valued at $8,265,376.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 6.10% of the stock is owned by company insiders.

Steel Dynamics Trading Down 0.9 %

STLD stock traded down $1.17 during trading on Wednesday, reaching $127.13. The company had a trading volume of 737,209 shares, compared to its average volume of 1,228,936. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55. Steel Dynamics, Inc. has a 52 week low of $95.53 and a 52 week high of $151.34. The business has a 50 day moving average of $130.00 and a 200 day moving average of $128.93. The company has a market cap of $19.98 billion, a P/E ratio of 8.81 and a beta of 1.35.

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

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Sunday, June 30th will be issued a $0.46 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.84 annualized dividend and a yield of 1.45%. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.64%.

Analyst Ratings Changes

Several analysts have weighed in on STLD shares. Jefferies Financial Group initiated coverage on shares of Steel Dynamics in a research note on Monday, May 20th. They issued a “hold” rating and a $150.00 price target for the company. Bank of America reduced their price target on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. BMO Capital Markets lowered their price objective on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a research report on Tuesday, June 18th. Citigroup raised their target price 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. upped their price target on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat.com, Steel Dynamics currently has a consensus rating of “Hold” and an average price target of $129.63.

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.