SteelPeak Wealth LLC Raises Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

SteelPeak Wealth LLC raised its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 118.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,004 shares of the basic materials company’s stock after acquiring an additional 2,167 shares during the quarter. SteelPeak Wealth LLC’s holdings in Steel Dynamics were worth $507,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Larson Financial Group LLC purchased a new stake in shares of Steel Dynamics during the 1st quarter worth approximately $25,000. Innealta Capital LLC purchased a new stake in shares of Steel Dynamics during the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Steel Dynamics during the 2nd quarter worth approximately $41,000. Cullen Frost Bankers Inc. lifted its position 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 buying an additional 100 shares during the last quarter. Finally, HHM Wealth Advisors LLC purchased a new stake in shares of Steel Dynamics during the 2nd quarter worth approximately $52,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Transactions at Steel Dynamics

In other news, VP Chad Bickford sold 2,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $134.86, for a total transaction of $269,720.00. Following the transaction, the vice president now directly owns 17,100 shares of the company’s stock, valued at $2,306,106. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Chad Bickford sold 2,000 shares of the company’s stock in a transaction on Monday, October 28th. The shares were sold at an average price of $134.86, for a total transaction of $269,720.00. Following the transaction, the vice president now directly owns 17,100 shares of the company’s stock, valued at $2,306,106. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Glenn Pushis sold 17,941 shares of the business’s stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the completion of the sale, the senior vice president now owns 146,693 shares in the company, valued at $19,523,371.37. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.00% of the company’s stock.

Steel Dynamics Stock Performance

Shares of STLD opened at $130.50 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.26 and a current ratio of 2.39. The stock has a market capitalization of $20.14 billion, a P/E ratio of 11.81 and a beta of 1.31. The company’s fifty day moving average is $123.25 and its two-hundred day moving average is $126.61. Steel Dynamics, Inc. has a 1 year low of $104.08 and a 1 year high of $151.34.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.18 billion. During the same period in the prior year, the company posted $3.47 EPS. The business’s revenue for the quarter was down 5.4% on a year-over-year basis. On average, sell-side analysts predict that Steel Dynamics, Inc. will post 10.22 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a dividend of $0.46 per share. The ex-dividend date was Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.41%. Steel Dynamics’s dividend payout ratio (DPR) is presently 16.65%.

Analyst Ratings Changes

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

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.