OneAscent Financial Services LLC Acquires 4,855 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

OneAscent Financial Services LLC increased its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 105.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 9,460 shares of the basic materials company's stock after acquiring an additional 4,855 shares during the quarter. OneAscent Financial Services LLC's holdings in Steel Dynamics were worth $1,180,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of STLD. Commonwealth Equity Services LLC boosted its position in shares of Steel Dynamics by 11.2% in the fourth quarter. Commonwealth Equity Services LLC now owns 45,491 shares of the basic materials company's stock valued at $5,189,000 after acquiring an additional 4,573 shares during the period. Axxcess Wealth Management LLC raised its stake in Steel Dynamics by 7.0% in the fourth quarter. Axxcess Wealth Management LLC now owns 1,967 shares of the basic materials company's stock valued at $224,000 after purchasing an additional 128 shares in the last quarter. Quantbot Technologies LP purchased a new stake in Steel Dynamics in the fourth quarter valued at approximately $363,000. Mizuho Securities USA LLC raised its stake in Steel Dynamics by 44.2% in the fourth quarter. Mizuho Securities USA LLC now owns 13,419 shares of the basic materials company's stock valued at $1,531,000 after purchasing an additional 4,114 shares in the last quarter. Finally, American Century Companies Inc. raised its stake in Steel Dynamics by 7.2% in the fourth quarter. American Century Companies Inc. now owns 262,847 shares of the basic materials company's stock valued at $29,983,000 after purchasing an additional 17,715 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $131.63 on Monday. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $155.56. The stock has a market cap of $19.54 billion, a PE ratio of 17.39, a price-to-earnings-growth ratio of 1.04 and a beta of 1.37. The company has a current ratio of 2.74, a quick ratio of 1.38 and a debt-to-equity ratio of 0.44. The company's fifty day moving average price is $131.65 and its 200-day moving average price is $127.64.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, beating analysts' consensus estimates of $1.40 by $0.04. Steel Dynamics had a net margin of 6.80% and a return on equity of 13.26%. The firm had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.17 billion. During the same quarter in the previous year, the business posted $3.67 EPS. On average, equities analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Monday, June 30th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date of this dividend was Monday, June 30th. Steel Dynamics's payout ratio is 26.42%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets raised shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and raised their target price for the company from $135.00 to $145.00 in a research note on Monday, March 31st. UBS Group raised shares of Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price target on the stock in a research note on Monday, March 24th. Morgan Stanley lifted their price target on shares of Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a research note on Friday, June 20th. JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a research note on Monday, July 14th. Finally, Wall Street Zen downgraded shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $149.33.

Insider Transactions at Steel Dynamics

In related news, Director Gabriel Shaheen sold 1,254 shares of the company's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $134.11, for a total value of $168,173.94. Following the transaction, the director owned 81,812 shares in the company, valued at $10,971,807.32. The trade was a 1.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Miguel Alvarez sold 7,495 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the completion of the transaction, the senior vice president owned 125,319 shares in the company, valued at approximately $16,950,647.94. The trade was a 5.64% decrease in their position. The disclosure for this sale can be found here. Insiders own 6.30% of the company's stock.

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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