Edgestream Partners L.P. Purchases 3,039 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Edgestream Partners L.P. increased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 117.8% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,619 shares of the basic materials company's stock after purchasing an additional 3,039 shares during the quarter. Edgestream Partners L.P.'s holdings in Steel Dynamics were worth $703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Activity at Steel Dynamics

In related news, SVP Miguel Alvarez sold 7,495 shares of the company's stock in a transaction that occurred on 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 approximately $16,950,647.94. This represents a 5.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Gabriel Shaheen sold 1,254 shares of the firm's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $134.11, for a total value of $168,173.94. Following the sale, the director directly owned 81,812 shares of the company's stock, valued at $10,971,807.32. This trade represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. JPMorgan Chase & Co. upped their target price on Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a report on Monday, July 14th. Wall Street Zen lowered shares of Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Morgan Stanley upped their price objective on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Finally, BMO Capital Markets upgraded shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and boosted their price target for the stock from $135.00 to $145.00 in a research note on Monday, March 31st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Steel Dynamics presently has an average rating of "Moderate Buy" and an average price target of $149.33.

Steel Dynamics Stock Down 1.1%

Steel Dynamics stock traded down $1.52 during mid-day trading on Wednesday, reaching $130.72. The company's stock had a trading volume of 1,216,541 shares, compared to its average volume of 1,530,503. The company has a market capitalization of $19.41 billion, a price-to-earnings ratio of 19.06, a price-to-earnings-growth ratio of 1.06 and a beta of 1.37. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.38 and a current ratio of 3.13. The business's 50 day simple moving average is $131.55 and its 200 day simple moving average is $127.82. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share for the quarter, missing analysts' consensus estimates of $2.05 by ($0.04). Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%. The firm had revenue of $4.57 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same period last year, the company posted $2.72 EPS. The business's revenue was down 1.5% on a year-over-year basis. As a group, research analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Stockholders of record on Monday, June 30th were given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date of this dividend was Monday, June 30th. Steel Dynamics's payout ratio is currently 29.15%.

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.