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

Edgestream Partners L.P. increased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 117.8% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,619 shares of the basic materials company's stock after purchasing an additional 3,039 shares during the period. Edgestream Partners L.P.'s holdings in Steel Dynamics were worth $703,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. acquired a new position in shares of Steel Dynamics during the first quarter worth about $25,000. Grove Bank & Trust increased its stake in 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 acquiring an additional 183 shares during the last quarter. Wayfinding Financial LLC purchased a new position in shares of Steel Dynamics in the 1st quarter worth about $36,000. Bartlett & CO. Wealth Management LLC acquired a new stake in Steel Dynamics during the 1st quarter worth approximately $38,000. Finally, Investment Management Corp VA ADV acquired a new stake in Steel Dynamics in the fourth quarter valued at approximately $40,000. Hedge funds and other institutional investors own 82.41% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have commented on STLD shares. UBS Group upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price objective on the stock in a report on Monday, March 24th. BMO Capital Markets raised Steel Dynamics from a "market perform" rating to an "outperform" rating and upped their target price for the company from $135.00 to $145.00 in a research report on Monday, March 31st. JPMorgan Chase & Co. upped their price target on shares of 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. Finally, Morgan Stanley upped 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $149.33.

Steel Dynamics Price Performance

STLD traded down $3.42 during trading on Tuesday, reaching $131.11. The stock had a trading volume of 1,254,817 shares, compared to its average volume of 1,665,674. The stock has a 50 day moving average of $131.65 and a two-hundred day moving average of $127.64. 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 $19.46 billion, a price-to-earnings ratio of 17.32, a price-to-earnings-growth ratio of 1.04 and a beta of 1.37. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its earnings results on Monday, July 21st. The basic materials company reported $2.01 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.04). Steel Dynamics had a net margin of 6.80% and a return on equity of 13.26%. The company had revenue of $4.57 billion for the quarter, compared to analysts' expectations of $4.82 billion. During the same period in the prior year, the company earned $2.72 earnings per share. The company's revenue for the quarter was down 1.5% on a year-over-year basis. As a group, equities analysts anticipate 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. Stockholders of record on Monday, June 30th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.53%. Steel Dynamics's payout ratio is presently 26.42%.

Insiders Place Their Bets

In other Steel Dynamics news, 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 transaction of $168,173.94. Following the transaction, the director owned 81,812 shares in the company, valued at approximately $10,971,807.32. This trade represents a 1.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Miguel Alvarez sold 7,495 shares of the stock in a transaction that occurred on 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 owned 125,319 shares in the company, valued at $16,950,647.94. This represents a 5.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.30% of the stock is owned by corporate insiders.

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.