Accurate Wealth Management LLC Raises Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Accurate Wealth Management LLC boosted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 4.9% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 5,721 shares of the basic materials company’s stock after buying an additional 269 shares during the quarter. Accurate Wealth Management LLC’s holdings in Steel Dynamics were worth $735,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Larson Financial Group LLC acquired a new position in shares of Steel Dynamics in the first quarter worth $25,000. Innealta Capital LLC purchased a new stake in Steel Dynamics during the 2nd quarter worth about $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Steel Dynamics in the 2nd quarter valued at about $41,000. Riverview Trust Co purchased a new position in Steel Dynamics in the 1st quarter valued at about $50,000. Finally, Cullen Frost Bankers Inc. boosted its stake in shares of Steel Dynamics by 33.3% during the 2nd quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Up 1.1 %

STLD stock opened at $136.57 on Friday. 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 company has a market cap of $21.46 billion, a price-to-earnings ratio of 9.38 and a beta of 1.31. The business has a fifty day simple moving average of $120.79 and a 200-day simple moving average of $127.37. Steel Dynamics, Inc. has a 52 week low of $98.25 and a 52 week high of $151.34.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping the consensus estimate of $1.98 by $0.07. The company had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The firm’s revenue was down 5.4% on a year-over-year basis. During the same period in the prior year, the firm posted $3.47 earnings per share. On average, equities research analysts expect that Steel Dynamics, Inc. will post 10.12 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $0.46 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.35%. Steel Dynamics’s payout ratio is 12.64%.

Wall Street Analysts Forecast Growth

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

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.