Ariadne Wealth Management LP Buys New Shares in Steel Dynamics, Inc. (NASDAQ:STLD)

Ariadne Wealth Management LP bought a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the 2nd quarter, Holdings Channel reports. The firm bought 2,064 shares of the basic materials company’s stock, valued at approximately $267,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Larson Financial Group LLC purchased a new position in Steel Dynamics during the first quarter valued at $25,000. LifeSteps Financial Inc. purchased a new position in shares of Steel Dynamics in the first quarter valued at about $26,000. Security National Bank purchased a new position in shares of Steel Dynamics in the fourth quarter valued at about $30,000. Innealta Capital LLC purchased a new position in shares of Steel Dynamics in the second quarter valued at about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Steel Dynamics in the second quarter valued at about $41,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

STLD has been the topic of several research analyst reports. Bank of America lowered their price objective on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. JPMorgan Chase & Co. upgraded Steel Dynamics from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $120.00 to $131.00 in a research report on Monday, September 9th. Morgan Stanley decreased their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 18th. BMO Capital Markets decreased their target price on Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating on the stock in a research report on Tuesday, September 17th. Finally, UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Six analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $141.29.

Steel Dynamics Stock Up 0.4 %

Steel Dynamics stock opened at $126.08 on Tuesday. The business has a fifty day moving average of $119.44 and a two-hundred day moving average of $128.69. 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 firm has a market cap of $19.45 billion, a P/E ratio of 8.66 and a beta of 1.32. Steel Dynamics, Inc. has a twelve month low of $98.25 and a twelve month high of $151.34.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, beating the consensus estimate 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 business posted $4.81 EPS. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. On average, analysts forecast that Steel Dynamics, Inc. will post 10.32 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.46%. The ex-dividend date is Monday, September 30th. Steel Dynamics’s payout ratio is 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.