5,114 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Bought by Hohimer Wealth Management LLC

Hohimer Wealth Management LLC acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,114 shares of the basic materials company's stock, valued at approximately $640,000.

A number of other hedge funds have also recently modified their holdings of the company. Raymond James Financial Inc. bought a new position in Steel Dynamics in the 4th quarter worth $16,495,000. AlphaQuest LLC boosted its stake in shares of Steel Dynamics by 250.9% during the 4th quarter. AlphaQuest LLC now owns 1,716 shares of the basic materials company's stock valued at $196,000 after purchasing an additional 1,227 shares in the last quarter. Independent Advisor Alliance boosted its stake in shares of Steel Dynamics by 4.7% during the 4th quarter. Independent Advisor Alliance now owns 5,883 shares of the basic materials company's stock valued at $671,000 after purchasing an additional 264 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Steel Dynamics by 21.8% during the 4th quarter. Sequoia Financial Advisors LLC now owns 5,712 shares of the basic materials company's stock valued at $652,000 after purchasing an additional 1,021 shares in the last quarter. Finally, Avantax Advisory Services Inc. boosted its stake in shares of Steel Dynamics by 4.6% during the 4th quarter. Avantax Advisory Services Inc. now owns 6,354 shares of the basic materials company's stock valued at $725,000 after purchasing an additional 280 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company's stock.

Steel Dynamics Stock Performance

STLD traded down $0.80 during trading on Wednesday, hitting $128.07. The company's stock had a trading volume of 543,156 shares, compared to its average volume of 1,670,118. The company has a quick ratio of 1.38, a current ratio of 2.74 and a debt-to-equity ratio of 0.44. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $155.56. The firm has a market cap of $19.01 billion, a PE ratio of 16.92, a P/E/G ratio of 1.04 and a beta of 1.37. The business's 50 day simple moving average is $131.66 and its 200-day simple moving average is $127.19.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.40 by $0.04. The firm had revenue of $4.37 billion during the quarter, compared to analysts' expectations of $4.17 billion. Steel Dynamics had a net margin of 6.80% and a return on equity of 13.26%. During the same period in the prior year, the company posted $3.67 earnings per share. As a group, sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Shareholders of record on Monday, June 30th were paid a $0.50 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.56%. Steel Dynamics's payout ratio is currently 26.42%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on STLD shares. BMO Capital Markets raised shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $135.00 to $145.00 in a research note on Monday, March 31st. JPMorgan Chase & Co. lifted their target price on shares of Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a research note on Monday. Morgan Stanley lifted their target price on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a research note on Friday, June 20th. UBS Group raised shares of Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 target price on the stock in a research note on Monday, March 24th. Finally, Wall Street Zen lowered shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Steel Dynamics has an average rating of "Moderate Buy" and an average price target of $149.33.

Insiders Place Their Bets

In other Steel Dynamics news, Director Gabriel Shaheen sold 1,254 shares of the business's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $134.11, for a total value of $168,173.94. Following the completion of the sale, the director directly owned 81,812 shares of the company's stock, valued at $10,971,807.32. The trade was a 1.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Miguel Alvarez sold 7,495 shares of the business's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the completion of the sale, the senior vice president directly owned 125,319 shares of the company's stock, valued at approximately $16,950,647.94. This trade represents 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 Company 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.