Farther Finance Advisors LLC Boosts Holdings in Steel Dynamics, Inc. $STLD

Key Points

• Farther Finance Advisors LLC increased its stake in Steel Dynamics, Inc. by 133.1%, holding 3,578 shares valued at approximately $458,000 as of its latest SEC filing.
• Steel Dynamics reported $2.01 EPS for the last quarter, missing analysts' expectations, with revenue down 1.5% year-over-year at $4.57 billion.
• The company announced a quarterly dividend of $0.50 per share, representing a yield of 1.4%, with the payment scheduled for October 10th.

Farther Finance Advisors LLC boosted its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 133.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,578 shares of the basic materials company's stock after purchasing an additional 2,043 shares during the quarter. Farther Finance Advisors LLC's holdings in Steel Dynamics were worth $458,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of STLD. Financial Gravity Asset Management Inc. purchased a new stake in Steel Dynamics in the 1st quarter worth approximately $25,000. Cary Street Partners Investment Advisory LLC boosted its position in shares of Steel Dynamics by 493.9% during the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company's stock valued at $25,000 after acquiring an additional 163 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of Steel Dynamics during the 1st quarter valued at about $32,000. WPG Advisers LLC bought a new stake in shares of Steel Dynamics during the 1st quarter valued at about $32,000. Finally, Grove Bank & Trust boosted its position in shares of Steel Dynamics by 194.7% during the 1st quarter. Grove Bank & Trust now owns 277 shares of the basic materials company's stock valued at $35,000 after acquiring an additional 183 shares during the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $139.63 on Friday. The stock has a market cap of $20.55 billion, a price-to-earnings ratio of 20.35, a P/E/G ratio of 1.14 and a beta of 1.40. The company has a current ratio of 3.13, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $155.56. The stock's 50-day moving average is $130.48 and its 200 day moving average is $128.78.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results on Monday, July 21st. The basic materials company reported $2.01 EPS 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 company had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.82 billion. During the same period last year, the firm earned $2.72 earnings per share. Steel Dynamics's revenue for the quarter was down 1.5% on a year-over-year basis. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be given a $0.50 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.00 annualized dividend and a yield of 1.4%. Steel Dynamics's payout ratio is presently 29.15%.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total value of $1,520,520.00. Following the completion of the sale, the senior vice president owned 66,738 shares in the company, valued at approximately $8,456,371.98. The trade was a 15.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.30% of the company's stock.

Wall Street Analyst Weigh In

STLD has been the subject of a number of research analyst reports. Morgan Stanley lifted their price target on Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. JPMorgan Chase & Co. lifted their price target on Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Finally, Wells Fargo & Company lifted their price target on Steel Dynamics from $143.00 to $150.00 and gave the company an "overweight" rating in a research report on Monday, September 15th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $149.40.

About Steel Dynamics

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.

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