Integrated Advisors Network LLC Invests $447,000 in Steel Dynamics, Inc. (NASDAQ:STLD)

Integrated Advisors Network LLC acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 3,788 shares of the basic materials company’s stock, valued at approximately $447,000.

Other large investors also recently modified their holdings of the company. CVA Family Office LLC bought a new position in Steel Dynamics during the fourth quarter worth $28,000. Turtle Creek Wealth Advisors LLC bought a new position in Steel Dynamics during the fourth quarter worth $29,000. Lindbrook Capital LLC boosted its stake in Steel Dynamics by 117.5% during the fourth quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 134 shares in the last quarter. Security National Bank bought a new position in Steel Dynamics during the fourth quarter worth $30,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of Steel Dynamics in the fourth quarter valued at $44,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

STLD has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. Citigroup raised their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. BMO Capital Markets dropped their price target on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating on the stock in a research report on Tuesday. Finally, Jefferies Financial Group assumed coverage on shares of Steel Dynamics in a research report on Monday, May 20th. They set a “hold” rating and a $150.00 price target on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $127.43.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $125.00 on Wednesday. Steel Dynamics, Inc. has a 52-week low of $95.53 and a 52-week high of $151.34. The company has a 50-day simple moving average of $132.99 and a 200 day simple moving average of $128.18. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.55 and a current ratio of 2.87. The company has a market capitalization of $19.64 billion, a PE ratio of 8.59 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) 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 business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter last year, the company posted $4.01 earnings per share. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. On average, research analysts predict that Steel Dynamics, Inc. will post 12.2 EPS for the current year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Sunday, June 30th will be paid a $0.46 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $1.84 annualized dividend and a dividend yield of 1.47%. Steel Dynamics’s payout ratio is 12.64%.

Insider Transactions at Steel Dynamics

In other news, SVP Christopher A. Graham sold 21,000 shares of Steel Dynamics stock in a transaction dated 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 $8,265,376.15. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.10% of the company’s stock.

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.