Larson Financial Group LLC Buys 5,457 Shares of Steel Dynamics, Inc. $STLD

Key Points

• Larson Financial Group LLC increased its stake in Steel Dynamics by 28.7% in the fourth quarter, buying 5,457 additional shares and bringing its total holdings to 24,498 shares valued at about $4.15 million.
• Analyst sentiment is mixed, with Steel Dynamics carrying a consensus rating of “Hold” and an average target price of $214.30, though several firms recently reiterated or raised bullish ratings and price targets.
• The company recently reported quarterly earnings of $2.78 per share, narrowly missing estimates, while revenue came in at $5.20 billion; Steel Dynamics also announced a quarterly dividend of $0.53 per share payable July 10.

Larson Financial Group LLC boosted its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 28.7% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 24,498 shares of the basic materials company's stock after buying an additional 5,457 shares during the period. Larson Financial Group LLC's holdings in Steel Dynamics were worth $4,151,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Optas LLC grew its position in shares of Steel Dynamics by 3.0% in the fourth quarter. Optas LLC now owns 1,979 shares of the basic materials company's stock valued at $335,000 after purchasing an additional 58 shares during the last quarter. Wright Investors Service Inc. boosted its stake in Steel Dynamics by 1.2% in the 4th quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company's stock valued at $941,000 after purchasing an additional 64 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Steel Dynamics by 4.1% in the 3rd quarter. Northwestern Mutual Wealth Management Co. now owns 1,764 shares of the basic materials company's stock valued at $246,000 after buying an additional 70 shares in the last quarter. Choreo LLC grew its holdings in Steel Dynamics by 3.3% in the 3rd quarter. Choreo LLC now owns 2,521 shares of the basic materials company's stock valued at $353,000 after buying an additional 80 shares in the last quarter. Finally, Laird Norton Wetherby Wealth Management LLC increased its position in Steel Dynamics by 2.4% during the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 3,468 shares of the basic materials company's stock worth $484,000 after buying an additional 80 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wall Street Zen upgraded Steel Dynamics from a "hold" rating to a "buy" rating in a research report on Saturday, April 18th. Morgan Stanley reissued an "underperform" rating and issued a $190.00 price objective on shares of Steel Dynamics in a report on Tuesday, March 17th. Citigroup boosted their price objective on shares of Steel Dynamics from $180.00 to $255.00 and gave the company a "buy" rating in a report on Wednesday, April 22nd. JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $192.00 to $205.00 and gave the company a "neutral" rating in a report on Tuesday, April 14th. Finally, Jefferies Financial Group reissued a "buy" rating on shares of Steel Dynamics in a report on Tuesday, March 17th. Six equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Steel Dynamics presently has a consensus rating of "Hold" and an average target price of $214.30.

Insider Transactions at Steel Dynamics

In other news, SVP Miguel Alvarez sold 4,825 shares of the company's stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $225.58, for a total transaction of $1,088,423.50. Following the completion of the sale, the senior vice president owned 122,257 shares of the company's stock, valued at approximately $27,578,734.06. This represents a 3.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Richard A. Poinsatte sold 2,300 shares of the company's stock in a transaction that occurred on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total transaction of $538,453.00. Following the sale, the senior vice president directly owned 28,618 shares of the company's stock, valued at approximately $6,699,759.98. This trade represents a 7.44% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 12,125 shares of company stock valued at $2,751,227. Company insiders own 6.60% of the company's stock.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock opened at $223.37 on Wednesday. The company has a 50 day moving average of $199.56 and a 200-day moving average of $183.56. Steel Dynamics, Inc. has a 1-year low of $119.89 and a 1-year high of $243.73. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46. The company has a market cap of $32.33 billion, a PE ratio of 23.89, a price-to-earnings-growth ratio of 0.49 and a beta of 1.48.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share for the quarter, missing analysts' consensus estimates of $2.79 by ($0.01). Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The firm had revenue of $5.20 billion for the quarter, compared to the consensus estimate of $5.39 billion. During the same period last year, the company posted $1.44 EPS. The business's revenue was up 19.1% on a year-over-year basis. As a group, equities research analysts forecast that Steel Dynamics, Inc. will post 14.77 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 10th. Stockholders of record on Tuesday, June 30th will be issued a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Steel Dynamics's dividend payout ratio is 22.67%.

Steel Dynamics Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company's product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.

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