Register Financial Advisors LLC Takes $185,000 Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Register Financial Advisors LLC purchased a new position in Steel Dynamics, Inc. (NASDAQ:STLD) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,425 shares of the basic materials company’s stock, valued at approximately $185,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in STLD. Franklin Resources Inc. boosted its holdings in shares of Steel Dynamics by 12.0% during the 4th quarter. Franklin Resources Inc. now owns 344,569 shares of the basic materials company’s stock valued at $40,694,000 after acquiring an additional 37,033 shares during the last quarter. Nordea Investment Management AB increased its stake in Steel Dynamics by 2.5% in the 1st 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. Massachusetts Financial Services Co. MA raised its position in Steel Dynamics by 1.6% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 17,321 shares of the basic materials company’s stock valued at $2,046,000 after purchasing an additional 278 shares in the last quarter. Schroder Investment Management Group raised its holdings in shares of Steel Dynamics by 15.3% in the 4th 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 in the last quarter. Finally, SG Americas Securities LLC lifted its stake in shares of Steel Dynamics by 1,498.4% during the 1st quarter. SG Americas Securities LLC now owns 29,730 shares of the basic materials company’s stock worth $4,407,000 after purchasing an additional 27,870 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Down 0.6 %

Shares of STLD stock traded down $0.78 during trading hours on Friday, hitting $119.43. 803,622 shares of the company were exchanged, compared to its average volume of 1,236,365. Steel Dynamics, Inc. has a 1 year low of $95.53 and a 1 year high of $151.34. The firm has a market cap of $18.77 billion, a PE ratio of 8.20 and a beta of 1.35. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25. The firm has a fifty day moving average of $126.21 and a 200 day moving average of $130.70.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. The business had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The company’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period last year, the firm earned $4.81 earnings per share. Analysts expect that Steel Dynamics, Inc. will post 11.35 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on STLD shares. BMO Capital Markets dropped their price objective on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating on the stock in a report on Tuesday, June 18th. Bank of America lowered their target price on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $118.00 to $120.00 and gave the company an “underweight” rating in a research report on Tuesday, July 16th. Finally, Jefferies Financial Group assumed coverage on shares of Steel Dynamics in a research note on Monday, May 20th. They set a “hold” rating and a $150.00 price objective for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $133.86.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Christopher A. Graham sold 21,000 shares of Steel Dynamics stock in a transaction that occurred 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.00% of the company’s stock.

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.