Larson Financial Group LLC Has $4.15 Million Stake in Steel Dynamics, Inc. $STLD

Larson Financial Group LLC lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 28.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 24,498 shares of the basic materials company’s stock after acquiring an additional 5,457 shares during the quarter. Larson Financial Group LLC’s holdings in Steel Dynamics were worth $4,151,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of STLD. NewEdge Advisors LLC boosted its holdings in shares of Steel Dynamics by 307.5% during the 1st quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $102,000 after acquiring an additional 618 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Steel Dynamics by 82.7% during the 1st quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock worth $435,000 after acquiring an additional 1,578 shares during the last quarter. Jump Financial LLC bought a new stake in Steel Dynamics during the 2nd quarter worth approximately $1,019,000. Qube Research & Technologies Ltd acquired a new position in Steel Dynamics in the 2nd quarter valued at approximately $48,746,000. Finally, Sei Investments Co. raised its stake in shares of Steel Dynamics by 7.9% during the second quarter. Sei Investments Co. now owns 105,051 shares of the basic materials company’s stock valued at $13,447,000 after acquiring an additional 7,712 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analysts Set New Price Targets

STLD has been the subject of several analyst reports. Jefferies Financial Group reaffirmed a “buy” rating on shares of Steel Dynamics in a research note on Tuesday, March 17th. JPMorgan Chase & Co. raised their price target on shares of Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. Citigroup raised their price target on shares of Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. Wells Fargo & Company raised their price target on shares of Steel Dynamics from $207.00 to $235.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Finally, KeyCorp raised their price target on shares of Steel Dynamics from $190.00 to $241.00 and gave the company an “overweight” rating in a research note on Wednesday, April 22nd. Six investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Steel Dynamics presently has a consensus rating of “Hold” and an average target price of $214.30.

Steel Dynamics Stock Down 2.3%

Steel Dynamics stock opened at $223.37 on Wednesday. The company has a quick ratio of 1.33, a current ratio of 3.13 and a debt-to-equity ratio of 0.46. Steel Dynamics, Inc. has a 12-month low of $119.89 and a 12-month high of $243.73. The firm’s fifty day moving average is $199.56 and its 200 day moving average is $183.56. The company has a market capitalization of $32.33 billion, a PE ratio of 23.89, a PEG ratio of 0.49 and a beta of 1.48.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The company had revenue of $5.20 billion for the quarter, compared to analyst estimates of $5.39 billion. During the same quarter in the previous year, the firm earned $1.44 EPS. The firm’s revenue was up 19.1% on a year-over-year basis. As a group, sell-side analysts predict that Steel Dynamics, Inc. will post 14.77 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 10th. Investors of record on Tuesday, June 30th will be given a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date is Tuesday, June 30th. Steel Dynamics’s payout ratio is presently 22.67%.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, Director Kenneth W. Cornew sold 5,000 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total transaction of $1,124,350.00. Following the completion of the sale, the director owned 31,299 shares in the company, valued at approximately $7,038,206.13. The trade was a 13.77% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Miguel Alvarez sold 4,825 shares of the business’s stock in a transaction on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the sale, the senior vice president owned 122,257 shares of the company’s stock, valued at $27,578,734.06. This trade represents a 3.80% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 12,125 shares of company stock worth $2,751,227 in the last quarter. Company insiders own 6.60% of the company’s stock.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.