Brookstone Capital Management Purchases 109 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Brookstone Capital Management lifted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 4.1% in the 1st quarter, HoldingsChannel.com reports. The fund owned 2,740 shares of the basic materials company’s stock after buying an additional 109 shares during the period. Brookstone Capital Management’s holdings in Steel Dynamics were worth $406,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in STLD. Elevated Capital Advisors LLC increased its holdings in shares of Steel Dynamics by 5.3% in the 1st quarter. Elevated Capital Advisors LLC now owns 2,870 shares of the basic materials company’s stock valued at $425,000 after acquiring an additional 144 shares during the period. Riverview Trust Co purchased a new position in Steel Dynamics in the first quarter valued at about $50,000. Gateway Investment Advisers LLC grew its stake in Steel Dynamics by 1.5% in the first quarter. Gateway Investment Advisers LLC now owns 55,324 shares of the basic materials company’s stock valued at $8,201,000 after purchasing an additional 822 shares during the last quarter. Northwest Investment Counselors LLC bought a new position in Steel Dynamics in the first quarter worth about $83,000. Finally, Ballentine Partners LLC purchased a new stake in shares of Steel Dynamics during the first quarter valued at about $227,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Bank of America reduced their price objective on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. BMO Capital Markets reduced their target price on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 18th. Citigroup raised their price target on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. Finally, Jefferies Financial Group started coverage on shares of Steel Dynamics in a report on Monday, May 20th. They set a “hold” rating and a $150.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $129.63.

Insider Buying and Selling

In other Steel Dynamics news, SVP Christopher A. Graham sold 21,000 shares of the company’s stock in a transaction on 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 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 filing with the SEC, which is available through the SEC website. 6.10% of the stock is currently owned by corporate insiders.

Steel Dynamics Stock Down 0.3 %

Steel Dynamics stock opened at $129.15 on Tuesday. The business’s 50-day simple moving average is $130.11 and its two-hundred day simple moving average is $128.90. 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 cap of $20.29 billion, a PE ratio of 8.87 and a beta of 1.35. Steel Dynamics, Inc. has a fifty-two week low of $95.53 and a fifty-two week high of $151.34.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The firm had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the company posted $4.01 earnings per share. The company’s revenue was down 4.1% compared to the same quarter last year. Equities analysts anticipate that Steel Dynamics, Inc. will post 11.64 EPS for the current year.

Steel Dynamics Announces Dividend

The firm also recently disclosed 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 is Friday, June 28th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.42%. Steel Dynamics’s payout ratio is currently 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.