MorganRosel Wealth Management LLC Buys Shares of 4,807 Steel Dynamics, Inc. (NASDAQ:STLD)

MorganRosel Wealth Management LLC bought a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,807 shares of the basic materials company’s stock, valued at approximately $713,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of Steel Dynamics in the fourth quarter valued at about $221,817,000. Ameriprise Financial Inc. lifted its holdings in shares of Steel Dynamics by 165.4% in the third quarter. Ameriprise Financial Inc. now owns 2,014,956 shares of the basic materials company’s stock valued at $212,447,000 after purchasing an additional 1,255,751 shares in the last quarter. Sapient Capital LLC bought a new stake in shares of Steel Dynamics in the fourth quarter valued at about $38,644,000. AEGON ASSET MANAGEMENT UK Plc bought a new stake in shares of Steel Dynamics in the fourth quarter valued at about $14,762,000. Finally, Schroder Investment Management Group raised its holdings in Steel Dynamics by 15.3% during the fourth quarter. Schroder Investment Management Group now owns 743,697 shares of the basic materials company’s stock worth $87,831,000 after acquiring an additional 98,764 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on STLD. JPMorgan Chase & Co. upped their target price 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 began coverage on Steel Dynamics in a report on Monday, May 20th. They set a “hold” rating and a $150.00 target price on the stock. Citigroup upped their target price on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. BMO Capital Markets dropped their target price on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating on the stock in a report on Tuesday, June 18th. Finally, Bank of America dropped their price objective on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $129.63.

Insider Activity

In related news, SVP Christopher A. Graham sold 21,000 shares of the 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 owns 60,415 shares of the company’s stock, valued at $8,265,376.15. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 6.10% of the stock is owned by company insiders.

Steel Dynamics Price Performance

NASDAQ:STLD opened at $129.50 on Monday. 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 stock’s 50 day moving average price is $130.28 and its two-hundred day moving average price is $128.83. The firm has a market capitalization of $20.35 billion, a price-to-earnings ratio of 8.89 and a beta of 1.35. Steel Dynamics, Inc. has a 12-month low of $95.53 and a 12-month high of $151.34.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the business earned $4.01 earnings per share. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, analysts anticipate that Steel Dynamics, Inc. will post 11.64 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Sunday, June 30th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.42%. The ex-dividend date is Friday, June 28th. Steel Dynamics’s payout ratio is 12.64%.

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.