TradeWell Securities LLC. Buys New Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

TradeWell Securities LLC. purchased a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the first quarter, according to its most recent filing with the SEC. The firm purchased 2,426 shares of the basic materials company's stock, valued at approximately $303,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of STLD. Grove Bank & Trust lifted 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 acquiring an additional 183 shares during the period. Wayfinding Financial LLC purchased a new position in shares of Steel Dynamics during the 1st quarter worth approximately $36,000. Bartlett & CO. Wealth Management LLC purchased a new position in shares of Steel Dynamics during the 1st quarter worth approximately $38,000. IAG Wealth Partners LLC purchased a new position in shares of Steel Dynamics during the 4th quarter worth approximately $39,000. Finally, Investment Management Corp VA ADV purchased a new position in shares of Steel Dynamics during the 4th quarter worth approximately $40,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Trading Down 1.7%

STLD stock traded down $2.30 during midday trading on Friday, hitting $135.07. The stock had a trading volume of 822,398 shares, compared to its average volume of 1,535,037. The firm has a market cap of $20.05 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 1.05 and a beta of 1.37. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.74 and a quick ratio of 1.38. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $155.56. The company's 50-day moving average price is $131.70 and its 200 day moving average price is $126.99.

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

Steel Dynamics Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $135.00 to $138.00 and gave the stock a "neutral" rating in a research note on Thursday, April 24th. Morgan Stanley raised their price objective 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. BMO Capital Markets raised shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and raised their price objective for the stock from $135.00 to $145.00 in a research note on Monday, March 31st. Wall Street Zen cut shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Finally, UBS Group raised shares of Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 target price for the company in a research note on Monday, March 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat.com, Steel Dynamics currently has an average rating of "Moderate Buy" and a consensus price target of $148.00.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Miguel Alvarez sold 7,495 shares of the business's stock in a transaction 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 of the company's stock, valued at $16,950,647.94. The trade was a 5.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Gabriel Shaheen sold 1,254 shares of the business's stock in a transaction 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 sale, the director directly owned 81,812 shares of the company's stock, valued at $10,971,807.32. This represents a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.30% of the stock is owned by insiders.

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.