11,316 Shares in Steel Dynamics, Inc. $STLD Acquired by Arete Wealth Advisors LLC

Key Points

• Arete Wealth Advisors acquired 11,316 Steel Dynamics shares worth approximately $2.6 million during the second quarter. Institutional investors collectively own 82.41% of STLD.
• Steel Dynamics exceeded quarterly expectations, reporting $3.69 in EPS and $6.09 billion in revenue, with revenue rising 33.4% year over year.
• The company declared a quarterly dividend of $0.53 per share, or $2.12 annualized, yielding about 0.9%. Analysts maintain a “Moderate Buy” consensus with an average price target of $259.09.

Arete Wealth Advisors LLC bought a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 11,316 shares of the basic materials company's stock, valued at approximately $2,597,000.

A number of other large investors have also recently added to or reduced their stakes in STLD. Meeder Asset Management Inc. acquired a new stake in shares of Steel Dynamics during the second quarter worth $26,000. Prosperity Bancshares Inc acquired a new position in shares of Steel Dynamics in the 4th quarter valued at $25,000. MV Capital Management Inc. purchased a new position in Steel Dynamics in the 4th quarter worth about $27,000. Cedar Mountain Advisors LLC purchased a new position in Steel Dynamics in the 1st quarter worth about $31,000. Finally, Toews Corp ADV acquired a new stake in Steel Dynamics during the 2nd quarter worth about $43,000. 82.41% of the stock is currently owned by institutional investors.

Insider Activity

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of the company's stock in a transaction on 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 sale, the senior vice president directly owned 102,837 shares in the company, valued at $27,632,301.90. This represents a 8.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 6.60% of the company's stock.

Steel Dynamics Price Performance

STLD stock opened at $228.68 on Monday. The firm has a market cap of $32.78 billion, a PE ratio of 20.73, a PEG ratio of 0.43 and a beta of 1.52. Steel Dynamics, Inc. has a 1 year low of $126.23 and a 1 year high of $288.74. The company has a fifty day simple moving average of $245.06 and a 200 day simple moving average of $222.52. The company has a current ratio of 3.18, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45.

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

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Stockholders of record on Wednesday, September 30th will be issued a $0.53 dividend. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. Steel Dynamics's dividend payout ratio is presently 19.22%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on STLD. The Goldman Sachs Group started coverage on shares of Steel Dynamics in a research report on Wednesday, July 29th. They issued a "buy" rating and a $300.00 target price on the stock. Morgan Stanley decreased their price objective on shares of Steel Dynamics from $270.00 to $260.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 22nd. UBS Group lifted their price objective on shares of Steel Dynamics from $165.00 to $276.00 and gave the stock a "neutral" rating in a research report on Monday, August 10th. JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $256.00 to $260.00 and gave the company a "neutral" rating in a research note on Wednesday, July 22nd. Finally, Weiss Ratings upgraded Steel Dynamics from a "buy (b-)" rating to a "buy (b)" rating in a report on Thursday, June 18th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Steel Dynamics has an average rating of "Moderate Buy" and a consensus target price of $259.09.

About Steel Dynamics

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.

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