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

Key Points

• Dickmeyer Boyce Financial Management Inc. opened a new position in Steel Dynamics during the first quarter, buying 4,620 shares valued at about $832,000.
• Steel Dynamics reported better-than-expected quarterly results, with earnings of $3.69 per share on revenue of $6.09 billion, both topping analyst estimates. Revenue rose 33.4% year over year.
• The company also paid a quarterly dividend of $0.53 per share, equal to an annualized yield of about 0.9%, while analysts currently rate the stock a Moderate Buy on average.

Dickmeyer Boyce Financial Management Inc. bought a new stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,620 shares of the basic materials company's stock, valued at approximately $832,000.

Other large investors also recently modified their holdings of the company. Prosperity Bancshares Inc bought a new position in Steel Dynamics during the fourth quarter worth $25,000. MV Capital Management Inc. bought a new stake in Steel Dynamics in the 4th quarter valued at $27,000. Sound Income Strategies LLC grew its position in Steel Dynamics by 1,500.0% in the 4th quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company's stock worth $28,000 after purchasing an additional 150 shares during the last quarter. Cedar Mountain Advisors LLC acquired a new stake in Steel Dynamics in the 1st quarter worth $31,000. Finally, DV Equities LLC bought a new position in shares of Steel Dynamics during the 4th quarter worth about $33,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Trading Up 0.8%

Shares of STLD opened at $240.57 on Friday. The company has a current ratio of 3.18, a quick ratio of 1.33 and a debt-to-equity ratio of 0.45. The stock has a market cap of $34.82 billion, a PE ratio of 21.81, a PEG ratio of 0.54 and a beta of 1.53. Steel Dynamics, Inc. has a 1 year low of $119.89 and a 1 year high of $288.74. The stock has a 50 day simple moving average of $246.00 and a 200-day simple moving average of $210.87.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results on Monday, July 20th. The basic materials company reported $3.69 EPS for the quarter, beating the consensus estimate of $3.63 by $0.06. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The business had revenue of $6.09 billion for the quarter, compared to analyst estimates of $5.56 billion. During the same quarter in the previous year, the firm earned $2.01 EPS. Steel Dynamics's quarterly revenue was up 33.4% on a year-over-year basis. On average, sell-side analysts predict that Steel Dynamics, Inc. will post 14.28 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

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

Insider Activity

In other news, SVP Richard A. Poinsatte sold 2,300 shares of Steel Dynamics stock in a transaction that occurred on Tuesday, May 12th. The shares were sold at an average price of $234.11, for a total value of $538,453.00. Following the completion of the transaction, the senior vice president owned 28,618 shares in the company, valued at approximately $6,699,759.98. The trade was a 7.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP James Stanley Anderson sold 10,000 shares of the business's stock in a transaction that occurred 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 completion of the transaction, the senior vice president directly owned 102,837 shares in the company, 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. Company insiders own 6.60% of the company's stock.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Steel Dynamics from $256.00 to $260.00 and gave the company a "neutral" rating in a research report on Wednesday. Citigroup lifted their target price on Steel Dynamics from $180.00 to $255.00 and gave the stock a "buy" rating in a research report on Wednesday, April 22nd. KeyCorp restated an "overweight" rating on shares of Steel Dynamics in a research note on Wednesday. Wall Street Zen raised Steel Dynamics from a "hold" rating to a "buy" rating in a report on Saturday, April 18th. Finally, Morgan Stanley cut their target price on Steel Dynamics from $270.00 to $260.00 and set an "equal weight" rating for the company in a research note on Wednesday. Seven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Steel Dynamics has a consensus rating of "Moderate Buy" and an average target price of $237.36.

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.

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