Beacon Pointe Advisors LLC Makes New Investment in Steel Dynamics, Inc. $STLD

Beacon Pointe Advisors LLC bought a new stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 5,302 shares of the basic materials company's stock, valued at approximately $1,217,000.

Other institutional investors also recently modified their holdings of the company. Prosperity Bancshares Inc bought a new position in Steel Dynamics in the fourth quarter valued at approximately $25,000. Meeder Asset Management Inc. bought a new stake in shares of Steel Dynamics during the 2nd quarter valued at $26,000. MV Capital Management Inc. bought a new stake in shares of Steel Dynamics during the 4th quarter valued at $27,000. Cedar Mountain Advisors LLC acquired a new position in shares of Steel Dynamics in the 1st quarter valued at $31,000. Finally, DV Equities LLC acquired a new position in shares of Steel Dynamics in the 4th quarter valued at $33,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Analysts Set New Price Targets

A number of brokerages recently commented on STLD. Wells Fargo & Company decreased their price objective on Steel Dynamics from $275.00 to $255.00 and set an "overweight" rating for the company in a research note on Monday, August 24th. JPMorgan Chase & Co. raised their target price on Steel Dynamics from $256.00 to $260.00 and gave the stock a "neutral" rating in a report on Wednesday, July 22nd. Morgan Stanley decreased their target price on Steel Dynamics from $270.00 to $260.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 22nd. UBS Group upped their price target on Steel Dynamics from $165.00 to $276.00 and gave the company a "neutral" rating in a research note on Monday, August 10th. Finally, 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 price target on the stock. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Steel Dynamics has an average rating of "Moderate Buy" and an average target price of $257.27.

Steel Dynamics Price Performance

NASDAQ STLD opened at $234.66 on Monday. The firm's 50 day moving average is $242.07 and its 200-day moving average is $223.77. The company has a quick ratio of 1.45, a current ratio of 3.18 and a debt-to-equity ratio of 0.45. The company has a market capitalization of $33.63 billion, a PE ratio of 21.27, a price-to-earnings-growth ratio of 0.44 and a beta of 1.52. Steel Dynamics, Inc. has a 12-month low of $126.88 and a 12-month high of $288.74.

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

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be issued a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Wednesday, September 30th. Steel Dynamics's dividend payout ratio (DPR) is presently 19.22%.

Insider Transactions at Steel Dynamics

In related news, SVP James Stanley Anderson sold 10,000 shares of the firm's stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the transaction, the senior vice president directly owned 102,837 shares of the company's stock, valued at approximately $27,632,301.90. This trade represents a 8.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 6.60% of the stock is owned by company insiders.

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.

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