Brookstone Capital Management Raises Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Brookstone Capital Management raised its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 196.8% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 8,980 shares of the basic materials company’s stock after buying an additional 5,954 shares during the period. Brookstone Capital Management’s holdings in Steel Dynamics were worth $1,132,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in STLD. Larson Financial Group LLC purchased a new stake in shares of Steel Dynamics during the first quarter worth about $25,000. Innealta Capital LLC purchased a new stake in Steel Dynamics in the 2nd quarter worth approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Steel Dynamics in the 2nd quarter worth approximately $41,000. Riverview Trust Co purchased a new position in shares of Steel Dynamics during the first quarter valued at approximately $50,000. Finally, Quarry LP raised its holdings in shares of Steel Dynamics by 583.9% during the fourth quarter. Quarry LP now owns 383 shares of the basic materials company’s stock valued at $45,000 after acquiring an additional 327 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on STLD. JPMorgan Chase & Co. cut their price target on shares of Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating on the stock in a report on Wednesday. BMO Capital Markets boosted their price target on shares of Steel Dynamics from $127.00 to $130.00 and gave the company a “market perform” rating in a research report on Thursday. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $140.00 to $155.00 in a report on Tuesday, October 1st. Morgan Stanley reduced their target price 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. Finally, UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and raised their target price for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $142.86.

Steel Dynamics Stock Performance

Shares of STLD opened at $129.86 on Friday. Steel Dynamics, Inc. has a 52 week low of $98.25 and a 52 week high of $151.34. 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 stock has a market cap of $20.41 billion, a P/E ratio of 8.92 and a beta of 1.31. The business’s 50 day moving average price is $119.64 and its 200-day moving average price is $127.93.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. The firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The company’s quarterly revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the firm posted $4.81 earnings per share. Equities research analysts anticipate that Steel Dynamics, Inc. will post 10.15 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a $0.46 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.84 annualized dividend and a dividend yield of 1.42%. Steel Dynamics’s dividend 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.