Cetera Investment Advisers Cuts Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Cetera Investment Advisers lessened its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,609 shares of the basic materials company’s stock after selling 611 shares during the quarter. Cetera Investment Advisers’ holdings in Steel Dynamics were worth $3,057,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Larson Financial Group LLC purchased a new stake in shares of Steel Dynamics during the first quarter worth approximately $25,000. Innealta Capital LLC acquired a new position in Steel Dynamics during the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new position in Steel Dynamics during the second quarter worth $41,000. Quarry LP grew its holdings in Steel Dynamics by 583.9% during the fourth quarter. Quarry LP now owns 383 shares of the basic materials company’s stock worth $45,000 after acquiring an additional 327 shares during the period. Finally, Riverview Trust Co acquired a new position in Steel Dynamics during the first quarter worth $50,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Down 1.3 %

Steel Dynamics stock opened at $128.46 on Friday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. The firm has a market capitalization of $19.82 billion, a price-to-earnings ratio of 8.82 and a beta of 1.31. Steel Dynamics, Inc. has a fifty-two week low of $98.25 and a fifty-two week high of $151.34. The stock’s fifty day moving average is $119.46 and its two-hundred day moving average is $128.15.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, beating analysts’ consensus estimates of $2.67 by $0.05. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $4.81 earnings per share. Analysts predict that Steel Dynamics, Inc. will post 10.36 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently disclosed 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 dividend yield of 1.43%. The ex-dividend date is Monday, September 30th. Steel Dynamics’s payout ratio is currently 12.64%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on STLD. BMO Capital Markets upped their price objective on Steel Dynamics from $127.00 to $130.00 and gave the stock a “market perform” rating in a report on Thursday. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. Morgan Stanley dropped their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. JPMorgan Chase & Co. dropped their price objective on Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating on the stock in a report on Wednesday. Finally, UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $142.86.

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.