Sheaff Brock Investment Advisors LLC Has $1.17 Million Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Key Points

• Sheaff Brock Investment Advisors LLC increased its position in Steel Dynamics, Inc. by 60.2%, owning 9,367 shares worth approximately $1.17 million.
• Analysts have mixed views on Steel Dynamics: Wall Street Zen downgraded it to a "sell," while BMO Capital Markets upgraded it to "outperform" with a target price increase to $145.00.
• Steel Dynamics reported $2.01 EPS for the last quarter, missing analysts' estimates, and had a revenue of $4.57 billion, slightly below expectations.

Sheaff Brock Investment Advisors LLC increased its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 60.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,367 shares of the basic materials company's stock after buying an additional 3,520 shares during the quarter. Sheaff Brock Investment Advisors LLC's holdings in Steel Dynamics were worth $1,172,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in STLD. LPL Financial LLC increased its stake in shares of Steel Dynamics by 11.3% in the fourth quarter. LPL Financial LLC now owns 99,417 shares of the basic materials company's stock valued at $11,340,000 after buying an additional 10,086 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Steel Dynamics by 13.8% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 230,267 shares of the basic materials company's stock valued at $26,055,000 after buying an additional 27,989 shares during the period. WINTON GROUP Ltd acquired a new position in shares of Steel Dynamics in the fourth quarter valued at approximately $495,000. UniSuper Management Pty Ltd boosted its holdings in Steel Dynamics by 8.4% in the fourth quarter. UniSuper Management Pty Ltd now owns 17,878 shares of the basic materials company's stock valued at $2,039,000 after acquiring an additional 1,390 shares during the last quarter. Finally, NEOS Investment Management LLC boosted its holdings in Steel Dynamics by 25.6% in the fourth quarter. NEOS Investment Management LLC now owns 6,081 shares of the basic materials company's stock valued at $694,000 after acquiring an additional 1,238 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on STLD. Wall Street Zen cut Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. BMO Capital Markets upgraded Steel Dynamics from a "market perform" rating to an "outperform" rating and upped their target price for the company from $135.00 to $145.00 in a report on Monday, March 31st. Morgan Stanley upped their target price on Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a report on Friday, June 20th. Finally, JPMorgan Chase & Co. upped their target price on Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a report on Monday, July 14th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $149.33.

Insiders Place Their Bets

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

Steel Dynamics Price Performance

Shares of STLD opened at $130.23 on Tuesday. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $155.56. The business's fifty day moving average is $131.15 and its 200 day moving average is $128.23. 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 $19.33 billion, a P/E ratio of 18.98, a P/E/G ratio of 1.06 and a beta of 1.37.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings results 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). 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 company's quarterly revenue was down 1.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.72 earnings per share. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

About Steel Dynamics

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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