OneDigital Investment Advisors LLC Buys Shares of 2,595 Steel Dynamics, Inc. (NASDAQ:STLD)

OneDigital Investment Advisors LLC bought a new stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,595 shares of the basic materials company's stock, valued at approximately $325,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of STLD. 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 purchasing an additional 183 shares in the last quarter. Bartlett & CO. Wealth Management LLC bought a new position in shares of Steel Dynamics during the 1st quarter valued at about $38,000. Investment Management Corp VA ADV bought a new position in shares of Steel Dynamics during the 4th quarter valued at about $40,000. Avalon Trust Co bought a new position in shares of Steel Dynamics during the 4th quarter valued at about $42,000. Finally, Park Square Financial Group LLC bought a new position in shares of Steel Dynamics during the 4th quarter valued at about $45,000. Institutional investors own 82.41% of the company's stock.

Steel Dynamics Stock Down 1.7%

Shares of STLD stock traded down $2.30 during trading on Friday, hitting $135.07. 822,398 shares of the company were exchanged, compared to its average volume of 1,533,237. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.38 and a current ratio of 2.74. The firm has a market capitalization of $20.05 billion, a price-to-earnings ratio of 17.84, a P/E/G ratio of 1.07 and a beta of 1.37. The business's 50-day simple moving average is $131.70 and its 200 day simple moving average is $126.92. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.40 by $0.04. The business had revenue of $4.37 billion during the quarter, compared to analysts' expectations of $4.17 billion. Steel Dynamics had a net margin of 6.80% and a return on equity of 13.26%. During the same period last year, the company posted $3.67 earnings per share. As a group, analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Monday, June 30th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Monday, June 30th. Steel Dynamics's dividend payout ratio is currently 26.42%.

Analyst Ratings Changes

STLD has been the subject of several research reports. Wall Street Zen lowered shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $135.00 to $138.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. UBS Group upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price objective for the company in a research report on Monday, March 24th. Morgan Stanley raised their target price on shares of Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. Finally, BMO Capital Markets upgraded shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $135.00 to $145.00 in a report on Monday, March 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Steel Dynamics currently has a consensus rating of "Moderate Buy" and an average target price of $148.00.

Insider Activity at Steel Dynamics

In related news, SVP Miguel Alvarez sold 7,495 shares of the firm's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the completion of the sale, the senior vice president directly owned 125,319 shares in the company, valued at approximately $16,950,647.94. This trade represents a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Gabriel Shaheen sold 1,254 shares of Steel Dynamics stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $134.11, for a total transaction of $168,173.94. Following the completion of the sale, the director owned 81,812 shares of the company's stock, valued at $10,971,807.32. This trade represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.