Cerity Partners LLC Has $9.69 Million Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Cerity Partners LLC increased its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 5.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 77,507 shares of the basic materials company's stock after acquiring an additional 3,959 shares during the quarter. Cerity Partners LLC owned about 0.05% of Steel Dynamics worth $9,694,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Financial Gravity Asset Management Inc. acquired a new position in Steel Dynamics in the first quarter worth about $25,000. Grove Bank & Trust grew its holdings in Steel Dynamics by 194.7% during the 1st quarter. Grove Bank & Trust now owns 277 shares of the basic materials company's stock worth $35,000 after acquiring an additional 183 shares during the last quarter. Wayfinding Financial LLC bought a new position in Steel Dynamics in the 1st quarter worth approximately $36,000. Bartlett & CO. Wealth Management LLC bought a new position in Steel Dynamics in the 1st quarter worth approximately $38,000. Finally, Investment Management Corp VA ADV acquired a new position in Steel Dynamics during the 4th quarter worth $40,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Insider Buying and Selling at Steel Dynamics

In related news, Director Gabriel Shaheen sold 1,254 shares of the business's stock in a transaction that occurred on Friday, June 6th. The stock was sold at an average price of $134.11, for a total transaction of $168,173.94. Following the transaction, the director directly owned 81,812 shares of the company's stock, valued at approximately $10,971,807.32. The trade was a 1.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Miguel Alvarez sold 7,495 shares of Steel Dynamics stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the sale, the senior vice president directly owned 125,319 shares of the company's stock, valued at $16,950,647.94. The trade was a 5.64% decrease in their position. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. BMO Capital Markets upgraded Steel Dynamics from a "market perform" rating to an "outperform" rating and raised their price target for the company from $135.00 to $145.00 in a report on Monday, March 31st. JPMorgan Chase & Co. increased their price objective on shares of Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a report on Monday. UBS Group raised shares of Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price objective on the stock in a research note on Monday, March 24th. Wall Street Zen lowered Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Finally, Morgan Stanley lifted their price objective on Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research note 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 presently has a consensus rating of "Moderate Buy" and an average price target of $149.33.

Steel Dynamics Stock Down 3.3%

Shares of STLD traded down $4.36 on Tuesday, hitting $128.86. The company's stock had a trading volume of 962,641 shares, compared to its average volume of 1,529,652. The firm's fifty day moving average price is $131.70 and its 200-day moving average price is $127.06. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $155.56. The company has a quick ratio of 1.38, a current ratio of 2.74 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $19.13 billion, a price-to-earnings ratio of 17.02, a P/E/G ratio of 1.05 and a beta of 1.37.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.04. The business had revenue of $4.37 billion for the quarter, compared to analyst estimates 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 last year, the business posted $3.67 earnings per share. On average, equities research analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Monday, June 30th were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.55%. The ex-dividend date was Monday, June 30th. Steel Dynamics's payout ratio is presently 26.42%.

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.