Private Advisory Group LLC Buys New Shares in Steel Dynamics, Inc. $STLD

Private Advisory Group LLC bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 2,548 shares of the basic materials company’s stock, valued at approximately $585,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strs Ohio lifted its position in shares of Steel Dynamics by 7.3% during the 4th quarter. Strs Ohio now owns 153,878 shares of the basic materials company’s stock worth $26,075,000 after buying an additional 10,519 shares during the period. Canada Post Corp Registered Pension Plan grew its position in Steel Dynamics by 70.5% in the fourth quarter. Canada Post Corp Registered Pension Plan now owns 11,692 shares of the basic materials company’s stock valued at $1,981,000 after acquiring an additional 4,835 shares during the period. Ethic Inc. grew its position in Steel Dynamics by 56.5% in the fourth quarter. Ethic Inc. now owns 18,548 shares of the basic materials company’s stock valued at $3,143,000 after acquiring an additional 6,695 shares during the period. M&T Bank Corp grew its position in Steel Dynamics by 372.2% in the fourth quarter. M&T Bank Corp now owns 34,898 shares of the basic materials company’s stock valued at $5,913,000 after acquiring an additional 27,508 shares during the period. Finally, Sapient Capital LLC raised its stake in Steel Dynamics by 34.6% during the second quarter. Sapient Capital LLC now owns 447,664 shares of the basic materials company’s stock worth $102,958,000 after acquiring an additional 115,080 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of the stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $268.70, for a total value of $2,687,000.00. Following the transaction, the senior vice president owned 102,837 shares of the company’s stock, valued at approximately $27,632,301.90. This represents a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.60% of the stock is currently owned by company insiders.

Steel Dynamics Stock Performance

Steel Dynamics stock opened at $255.77 on Friday. The stock has a 50-day simple moving average of $248.68 and a 200 day simple moving average of $220.16. The company has a quick ratio of 1.45, a current ratio of 3.18 and a debt-to-equity ratio of 0.45. Steel Dynamics, Inc. has a 12-month low of $124.77 and a 12-month high of $288.74. The stock has a market capitalization of $36.66 billion, a price-to-earnings ratio of 23.19, a P/E/G ratio of 0.48 and a beta of 1.52.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 EPS for the quarter, beating the consensus estimate of $3.63 by $0.06. The business had revenue of $6.09 billion for the quarter, compared to analysts’ expectations of $5.56 billion. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. Steel Dynamics’s revenue was up 33.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.01 earnings per share. On average, research analysts anticipate that Steel Dynamics, Inc. will post 17.16 earnings per share for the current fiscal year.

Analyst Ratings Changes

STLD has been the subject of a number of analyst reports. Citigroup lifted their price objective on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $256.00 to $260.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Wells Fargo & Company cut their price target on shares of Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating for the company in a report on Wednesday, July 22nd. UBS Group boosted their price target on shares of Steel Dynamics from $165.00 to $276.00 and gave the company a “neutral” rating in a research report on Monday, August 10th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Steel Dynamics in a research note on Wednesday, July 22nd. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Steel Dynamics presently has an average rating of “Moderate Buy” and a consensus target price of $259.09.

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.