23,731 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Purchased by Janney Montgomery Scott LLC

Janney Montgomery Scott LLC acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 23,731 shares of the basic materials company's stock, valued at approximately $2,968,000.

A number of other large investors have also added to or reduced their stakes in STLD. Price T Rowe Associates Inc. MD raised its stake in Steel Dynamics by 8.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,628,403 shares of the basic materials company's stock valued at $642,033,000 after acquiring an additional 451,630 shares during the period. Geode Capital Management LLC raised its position in shares of Steel Dynamics by 0.8% in the fourth quarter. Geode Capital Management LLC now owns 3,688,494 shares of the basic materials company's stock valued at $419,697,000 after purchasing an additional 30,350 shares during the period. Capital Research Global Investors lifted its stake in shares of Steel Dynamics by 29.4% during the 4th quarter. Capital Research Global Investors now owns 3,592,670 shares of the basic materials company's stock valued at $409,816,000 after buying an additional 815,629 shares in the last quarter. First Trust Advisors LP boosted its holdings in Steel Dynamics by 14.1% in the 4th quarter. First Trust Advisors LP now owns 3,179,062 shares of the basic materials company's stock worth $362,636,000 after buying an additional 393,516 shares during the period. Finally, Norges Bank purchased a new position in Steel Dynamics in the 4th quarter valued at approximately $336,426,000. Hedge funds and other institutional investors own 82.41% of the company's stock.

Insider Transactions at Steel Dynamics

In other news, Director Gabriel Shaheen sold 1,254 shares of the stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $134.11, for a total transaction of $168,173.94. Following the completion of the sale, the director now directly owns 81,812 shares in the company, valued at approximately $10,971,807.32. This represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Miguel Alvarez sold 7,495 shares of the firm's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $135.26, for a total value of $1,013,773.70. Following the completion of the sale, the senior vice president now directly owns 125,319 shares in the company, valued at $16,950,647.94. The trade was a 5.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.30% of the company's stock.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $128.22 on Wednesday. The company's fifty day moving average price is $129.48 and its 200-day moving average price is $126.08. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.74 and a quick ratio of 1.38. The firm has a market capitalization of $19.03 billion, a price-to-earnings ratio of 16.94, a PEG ratio of 0.95 and a beta of 1.38. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.04. Steel Dynamics had a return on equity of 13.26% and a net margin of 6.80%. The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.17 billion. During the same quarter in the previous year, the company posted $3.67 earnings per share. On average, equities research analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.56%. Steel Dynamics's dividend payout ratio (DPR) is currently 26.42%.

Wall Street Analysts Forecast Growth

STLD has been the topic of several recent research reports. BMO Capital Markets upgraded Steel Dynamics from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $135.00 to $145.00 in a research report on Monday, March 31st. UBS Group upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 target price for the company in a research note on Monday, March 24th. Wolfe Research raised Steel Dynamics from an "underperform" rating to a "peer perform" rating in a report on Thursday, February 27th. Wall Street Zen downgraded shares of Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Finally, Morgan Stanley raised their price objective on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $148.00.

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.

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