Ballentine Partners LLC Has $289,000 Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Ballentine Partners LLC increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 46.1% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,235 shares of the basic materials company’s stock after buying an additional 705 shares during the quarter. Ballentine Partners LLC’s holdings in Steel Dynamics were worth $289,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in STLD. Atomi Financial Group Inc. raised its position in shares of Steel Dynamics by 3.1% during the first quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company’s stock worth $395,000 after purchasing an additional 79 shares during the period. Csenge Advisory Group lifted its stake in shares of Steel Dynamics by 2.8% in the second quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock valued at $381,000 after buying an additional 81 shares in the last quarter. Greenfield Savings Bank grew its holdings in shares of Steel Dynamics by 0.7% during the first quarter. Greenfield Savings Bank now owns 11,676 shares of the basic materials company’s stock valued at $1,731,000 after buying an additional 85 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Steel Dynamics by 9.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the basic materials company’s stock worth $126,000 after acquiring an additional 88 shares in the last quarter. Finally, Global Retirement Partners LLC raised its holdings in shares of Steel Dynamics by 19.2% in the 1st quarter. Global Retirement Partners LLC now owns 570 shares of the basic materials company’s stock worth $84,000 after acquiring an additional 92 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock opened at $108.10 on Thursday. The business’s fifty day simple moving average is $121.76 and its 200 day simple moving average is $129.85. The company has a current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25. Steel Dynamics, Inc. has a 12 month low of $95.53 and a 12 month high of $151.34. The firm has a market capitalization of $16.99 billion, a P/E ratio of 7.42 and a beta of 1.32.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same period in the previous year, the firm earned $4.81 EPS. The firm’s quarterly revenue was down 8.8% on a year-over-year basis. As a group, analysts anticipate that Steel Dynamics, Inc. will post 10.74 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Stockholders of record on Monday, September 30th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date of this dividend is Monday, September 30th. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Wall Street Analyst Weigh In

STLD has been the subject of a number of analyst reports. BMO Capital Markets cut their price target on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a research note on Tuesday, June 18th. Bank of America dropped their target price on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. Morgan Stanley upped their price target on Steel Dynamics from $134.00 to $138.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. Jefferies Financial Group assumed coverage on Steel Dynamics in a research note on Monday, May 20th. They set a “hold” rating and a $150.00 price objective on the stock. Finally, JPMorgan Chase & Co. upgraded shares of Steel Dynamics from an “underweight” rating to a “neutral” rating and upped their target price for the stock from $120.00 to $131.00 in a research note on Monday. Six investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $143.43.

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.