GC Wealth Management RIA LLC Purchases Shares of 1,860 Steel Dynamics, Inc. $STLD

Key Points

• GC Wealth Management RIA LLC has acquired 1,860 shares of Steel Dynamics, Inc., valued at approximately $238,000, during the second quarter.
• Analysts have raised their target prices for Steel Dynamics, with Wells Fargo increasing it from $143 to $150, and the stock currently holds a consensus rating of "Moderate Buy".
• Steel Dynamics announced a quarterly dividend of $0.50, set to be paid on October 10th, providing an annual yield of 1.4% with a payout ratio of 29.15%.

GC Wealth Management RIA LLC purchased a new stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund purchased 1,860 shares of the basic materials company's stock, valued at approximately $238,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Ritholtz Wealth Management increased its stake in 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 purchasing an additional 1,310 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Steel Dynamics by 10.4% during the first quarter. Farther Finance Advisors LLC now owns 1,535 shares of the basic materials company's stock worth $190,000 after acquiring an additional 145 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its position in shares of Steel Dynamics by 31.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,511 shares of the basic materials company's stock worth $3,441,000 after acquiring an additional 6,604 shares in the last quarter. Golden State Wealth Management LLC increased its position in shares of Steel Dynamics by 124.1% during the first quarter. Golden State Wealth Management LLC now owns 948 shares of the basic materials company's stock worth $119,000 after acquiring an additional 525 shares in the last quarter. Finally, State of Alaska Department of Revenue increased its position in shares of Steel Dynamics by 2.7% during the first quarter. State of Alaska Department of Revenue now owns 16,583 shares of the basic materials company's stock worth $2,074,000 after acquiring an additional 435 shares in the last quarter. 82.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on the stock. Wells Fargo & Company boosted their target price on shares of Steel Dynamics from $143.00 to $150.00 and gave the stock an "overweight" rating in a research report on Monday, September 15th. Morgan Stanley boosted their target price on shares of Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research report on Friday, June 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a research report on Monday, July 14th. Eight investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $148.78.

Steel Dynamics Stock Up 2.4%

STLD opened at $144.39 on Friday. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43. The stock has a market cap of $21.25 billion, a price-to-earnings ratio of 21.05, a PEG ratio of 1.15 and a beta of 1.40. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56. The company's 50-day moving average price is $131.27 and its two-hundred day moving average price is $129.19.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released 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). The company had revenue of $4.57 billion during the quarter, compared to analysts' expectations of $4.82 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The firm's revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.72 earnings per share. As a group, equities analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Announces Dividend

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

Insiders Place Their Bets

In related news, SVP Christopher A. Graham sold 12,000 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the sale, the senior vice president directly owned 66,738 shares in the company, valued at approximately $8,456,371.98. This represents a 15.24% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 6.30% of the stock is currently owned by insiders.

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.

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