Savant Capital LLC Grows Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Savant Capital LLC lifted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 5.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,621 shares of the basic materials company’s stock after buying an additional 249 shares during the period. Savant Capital LLC’s holdings in Steel Dynamics were worth $598,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of STLD. Private Advisor Group LLC boosted its stake in shares of Steel Dynamics by 27.0% in the 4th quarter. Private Advisor Group LLC now owns 3,942 shares of the basic materials company’s stock worth $466,000 after buying an additional 837 shares during the last quarter. Principal Securities Inc. purchased a new position in shares of Steel Dynamics in the 4th quarter worth $146,000. Jump Financial LLC purchased a new position in shares of Steel Dynamics in the 4th quarter worth $271,000. Ieq Capital LLC lifted its position in Steel Dynamics by 6.0% during the fourth quarter. Ieq Capital LLC now owns 3,341 shares of the basic materials company’s stock valued at $395,000 after purchasing an additional 189 shares in the last quarter. Finally, Avantax Advisory Services Inc. grew its holdings in Steel Dynamics by 9.6% during the fourth quarter. Avantax Advisory Services Inc. now owns 3,101 shares of the basic materials company’s stock valued at $366,000 after purchasing an additional 272 shares during the period. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on STLD. JPMorgan Chase & Co. raised Steel Dynamics from an “underweight” rating to a “neutral” rating and boosted their price target for the company from $120.00 to $131.00 in a report on Monday. Jefferies Financial Group began coverage on Steel Dynamics in a report on Monday, May 20th. They set a “hold” rating and a $150.00 price target for the company. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. Bank of America cut their price target on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Finally, Morgan Stanley boosted their price target on Steel Dynamics from $134.00 to $138.00 and gave the company an “equal weight” rating in a report on Thursday, August 15th. Six research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $143.43.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $110.54 on Friday. The firm has a market cap of $17.37 billion, a price-to-earnings ratio of 7.59 and a beta of 1.32. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25. The business has a 50-day moving average price of $121.43 and a 200-day moving average price of $129.71. Steel Dynamics, Inc. has a twelve month low of $95.53 and a twelve month high of $151.34.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data 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 return on equity of 22.89% and a net margin of 11.10%. The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same quarter in the prior year, the company posted $4.81 earnings per share. The business’s quarterly revenue was down 8.8% compared to the same quarter last year. As a group, equities research analysts predict that Steel Dynamics, Inc. will post 10.74 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.66%. The ex-dividend date is Monday, September 30th. Steel Dynamics’s payout ratio is presently 12.64%.

Steel Dynamics 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.