Focus Partners Advisor Solutions LLC Buys Shares of 2,968 Steel Dynamics, Inc. $STLD

Key Points

• Focus Partners Advisor Solutions LLC has acquired a new stake in Steel Dynamics, purchasing 2,968 shares valued at approximately $371,000.
• Steel Dynamics reported a net revenue of $4.57 billion for the last quarter, missing analyst expectations of $4.82 billion, and earnings per share of $2.01.
• The company recently announced a $0.50 quarterly dividend, offering a 1.5% yield and a payout ratio of 29.15%.

Focus Partners Advisor Solutions LLC purchased a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 2,968 shares of the basic materials company's stock, valued at approximately $371,000.

Several other institutional investors have also recently made changes to their positions in STLD. Ritholtz Wealth Management grew its stake in shares of Steel Dynamics by 24.4% in the first quarter. Ritholtz Wealth Management now owns 6,687 shares of the basic materials company's stock valued at $836,000 after buying an additional 1,310 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Steel Dynamics by 10.4% in the first quarter. Farther Finance Advisors LLC now owns 1,535 shares of the basic materials company's stock valued at $190,000 after acquiring an additional 145 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its position in shares of Steel Dynamics by 31.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 27,511 shares of the basic materials company's stock valued at $3,441,000 after acquiring an additional 6,604 shares during the period. Golden State Wealth Management LLC increased its stake in shares of Steel Dynamics by 124.1% during the 1st quarter. Golden State Wealth Management LLC now owns 948 shares of the basic materials company's stock worth $119,000 after purchasing an additional 525 shares during the last quarter. Finally, State of Alaska Department of Revenue raised its holdings in shares of Steel Dynamics by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 16,583 shares of the basic materials company's stock valued at $2,074,000 after purchasing an additional 435 shares during the period. Institutional investors and hedge funds own 82.41% of the company's stock.

Steel Dynamics Stock Performance

NASDAQ STLD traded down $4.25 on Tuesday, reaching $130.29. The stock had a trading volume of 1,302,493 shares, compared to its average volume of 1,589,049. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.13 and a quick ratio of 1.34. The firm has a fifty day moving average of $129.60 and a two-hundred day moving average of $128.03. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $155.56. The company has a market cap of $19.18 billion, a P/E ratio of 18.99, a price-to-earnings-growth ratio of 1.09 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings data 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 net margin of 6.07% and a return on equity of 11.88%. The firm had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.82 billion. During the same period in the prior year, the company earned $2.72 earnings per share. The business's quarterly revenue was down 1.5% compared to the same quarter last year. On average, equities research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Tuesday, September 30th. Steel Dynamics's payout ratio is 29.15%.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the transaction, the senior vice president owned 66,738 shares in the company, valued at $8,456,371.98. This trade represents a 15.24% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.30% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on STLD. Morgan Stanley lifted their price target on Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Wells Fargo & Company raised Steel Dynamics to a "strong-buy" rating in a research report on Thursday, August 14th. Finally, JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and three have given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $148.70.

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.