HB Wealth Management LLC Increases Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

HB Wealth Management LLC increased its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 6.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,165 shares of the basic materials company’s stock after buying an additional 202 shares during the period. HB Wealth Management LLC’s holdings in Steel Dynamics were worth $469,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Greenfield Savings Bank boosted its holdings in Steel Dynamics by 0.7% in the first quarter. Greenfield Savings Bank now owns 11,676 shares of the basic materials company’s stock worth $1,731,000 after purchasing an additional 85 shares during the period. EverSource Wealth Advisors LLC boosted its stake in Steel Dynamics by 9.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the basic materials company’s stock valued at $126,000 after acquiring an additional 88 shares during the period. Global Retirement Partners LLC grew its holdings in shares of Steel Dynamics by 19.2% during the first quarter. Global Retirement Partners LLC now owns 570 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 92 shares during the last quarter. Signaturefd LLC raised its position in shares of Steel Dynamics by 0.9% during the 4th quarter. Signaturefd LLC now owns 10,698 shares of the basic materials company’s stock worth $1,263,000 after purchasing an additional 93 shares during the period. Finally, Summit Trail Advisors LLC lifted its holdings in shares of Steel Dynamics by 5.3% in the 1st quarter. Summit Trail Advisors LLC now owns 1,937 shares of the basic materials company’s stock worth $288,000 after purchasing an additional 98 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Ratings Changes

STLD has been the subject of a number of recent research reports. Citigroup upped their price objective on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. Bank of America reduced their target price on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Jefferies Financial Group started coverage on shares of Steel Dynamics in a research report on Monday, May 20th. They issued a “hold” rating and a $150.00 price target on the stock. Finally, BMO Capital Markets reduced their price target 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. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $129.63.

Insider Buying and Selling

In related news, SVP Christopher A. Graham sold 21,000 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $136.81, for a total value of $2,873,010.00. Following the completion of the transaction, the senior vice president now owns 60,415 shares in the company, valued at approximately $8,265,376.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.10% of the stock is owned by corporate insiders.

Steel Dynamics Price Performance

STLD traded down $2.75 during midday trading on Friday, reaching $124.38. 547,525 shares of the company’s stock were exchanged, compared to its average volume of 1,223,613. The business has a 50-day simple moving average of $129.82 and a two-hundred day simple moving average of $128.90. The company has a quick ratio of 1.55, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $19.54 billion, a price-to-earnings ratio of 8.73 and a beta of 1.35. Steel Dynamics, Inc. has a one year low of $95.53 and a one year high of $151.34.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.54 by $0.13. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same period last year, the business earned $4.01 earnings per share. The business’s revenue was down 4.1% on a year-over-year basis. As a group, research analysts predict that Steel Dynamics, Inc. will post 11.64 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Sunday, June 30th will be paid a dividend of $0.46 per share. The ex-dividend date is Friday, June 28th. This represents a $1.84 annualized dividend and a yield of 1.48%. Steel Dynamics’s dividend payout ratio is 12.64%.

Steel Dynamics 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.