Steel Dynamics, Inc. (NASDAQ:STLD) Shares Bought by Valeo Financial Advisors LLC

Valeo Financial Advisors LLC boosted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 45.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,828 shares of the basic materials company’s stock after acquiring an additional 1,498 shares during the quarter. Valeo Financial Advisors LLC’s holdings in Steel Dynamics were worth $609,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Larson Financial Group LLC acquired a new stake in Steel Dynamics during the first quarter worth $25,000. Innealta Capital LLC acquired a new stake in Steel Dynamics during the second quarter worth $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Steel Dynamics during the second quarter worth $41,000. Quarry LP increased its stake 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 last quarter. Finally, Riverview Trust Co acquired a new stake in Steel Dynamics during the first quarter worth $50,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Trading Up 1.1 %

NASDAQ:STLD opened at $129.86 on Monday. The firm has a market cap of $20.04 billion, a PE ratio of 10.41 and a beta of 1.31. The stock has a fifty day moving average price of $119.64 and a 200 day moving average price of $127.80. Steel Dynamics, Inc. has a 12-month low of $98.25 and a 12-month high of $151.34. 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 (NASDAQ:STLD) last posted its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, beating 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 company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same period last year, the firm earned $4.81 earnings per share. Steel Dynamics’s quarterly revenue was down 8.8% on a year-over-year basis. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 10.15 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Monday, September 30th. Steel Dynamics’s dividend payout ratio is presently 14.76%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on STLD shares. JPMorgan Chase & Co. lowered their price target on Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley lowered their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. BMO Capital Markets raised their price target on Steel Dynamics from $127.00 to $130.00 and gave the stock a “market perform” rating in a research report on Thursday. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Finally, Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $142.86.

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.