4,620 Shares in Steel Dynamics, Inc. $STLD Purchased by Dickmeyer Boyce Financial Management Inc.

Dickmeyer Boyce Financial Management Inc. acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,620 shares of the basic materials company’s stock, valued at approximately $832,000.

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

Wall Street Analyst Weigh In

Several research firms have issued reports on STLD. Wall Street Zen raised Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday, April 18th. Wells Fargo & Company lowered their target price on Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating for the company in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on Steel Dynamics from $256.00 to $260.00 and gave the stock a “neutral” rating in a research report on Wednesday. KeyCorp reaffirmed an “overweight” rating on shares of Steel Dynamics in a research note on Wednesday. Finally, Barclays raised their price target on Steel Dynamics from $270.00 to $272.00 and gave the company an “overweight” rating in a report on Wednesday. Seven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $237.36.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock opened at $240.57 on Friday. The company’s fifty day moving average is $246.00 and its 200 day moving average is $210.87. The company has a quick ratio of 1.33, a current ratio of 3.18 and a debt-to-equity ratio of 0.45. Steel Dynamics, Inc. has a twelve month low of $119.89 and a twelve month high of $288.74. The stock has a market cap of $34.82 billion, a price-to-earnings ratio of 21.81, a P/E/G ratio of 0.54 and a beta of 1.53.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Monday, July 20th. The basic materials company reported $3.69 EPS for the quarter, beating analysts’ consensus estimates of $3.63 by $0.06. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The business had revenue of $6.09 billion for the quarter, compared to analysts’ expectations of $5.56 billion. During the same quarter in the prior year, the firm posted $2.01 earnings per share. The business’s quarterly revenue was up 33.4% compared to the same quarter last year. Sell-side analysts forecast that Steel Dynamics, Inc. will post 14.28 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.53 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $2.12 annualized dividend and a dividend yield of 0.9%. Steel Dynamics’s dividend payout ratio (DPR) is 19.22%.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Richard A. Poinsatte sold 2,300 shares of the stock in a transaction on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total transaction of $538,453.00. Following the transaction, the senior vice president directly owned 28,618 shares of the company’s stock, valued at $6,699,759.98. This represents a 7.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP James Stanley Anderson sold 10,000 shares of the firm’s stock in a transaction on Friday, June 5th. The stock was sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the completion of the sale, the senior vice president owned 102,837 shares of the company’s stock, valued at $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 6.60% of the company’s stock.

Steel Dynamics 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.