United Capital Financial Advisors LLC Buys Shares of 4,880 Steel Dynamics, Inc. $STLD

Key Points

• United Capital Financial Advisors bought 4,880 shares of Steel Dynamics worth approximately $1.12 million during the second quarter. Institutional investors and hedge funds collectively own 82.41% of the company.
• Steel Dynamics reported quarterly earnings of $3.69 per share, beating estimates of $3.63, while revenue rose 33.4% year over year to $6.09 billion.
• The company declared a quarterly dividend of $0.53 per share, equating to $2.12 annually and a 0.9% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $257.27.

United Capital Financial Advisors LLC purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 4,880 shares of the basic materials company's stock, valued at approximately $1,120,000.

A number of other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in Steel Dynamics during the second quarter worth approximately $2,844,501,000. Capital Research Global Investors increased its position in shares of Steel Dynamics by 0.3% during the 4th quarter. Capital Research Global Investors now owns 3,623,054 shares of the basic materials company's stock valued at $613,926,000 after purchasing an additional 9,959 shares during the period. Life Cycle Investment Partners Ltd acquired a new position in shares of Steel Dynamics during the 4th quarter valued at $586,702,000. Norges Bank bought a new stake in shares of Steel Dynamics in the 4th quarter worth $564,590,000. Finally, Invesco Ltd. lifted its holdings in shares of Steel Dynamics by 6.3% in the fourth quarter. Invesco Ltd. now owns 1,965,092 shares of the basic materials company's stock valued at $332,985,000 after buying an additional 116,379 shares during the period. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Performance

Shares of STLD opened at $234.66 on Friday. Steel Dynamics, Inc. has a one year low of $126.88 and a one year high of $288.74. The company has a 50-day moving average of $242.07 and a two-hundred day moving average of $223.62. The stock has a market cap of $33.63 billion, a price-to-earnings ratio of 21.27, a PEG ratio of 0.44 and a beta of 1.52. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.18 and a quick ratio of 1.45.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.63 by $0.06. The business had revenue of $6.09 billion for the quarter, compared to analyst estimates of $5.56 billion. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The firm's revenue was up 33.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.01 earnings per share. On average, equities research analysts expect that Steel Dynamics, Inc. will post 17.16 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be paid a $0.53 dividend. This represents a $2.12 annualized dividend and a yield of 0.9%. The ex-dividend date is Wednesday, September 30th. Steel Dynamics's dividend payout ratio is currently 19.22%.

Insiders Place Their Bets

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of the stock in a transaction that occurred on Friday, June 5th. The shares were sold at an average price of $268.70, for a total value of $2,687,000.00. Following the completion of the sale, the senior vice president owned 102,837 shares in the company, valued at $27,632,301.90. This represents a 8.86% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.60% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on STLD shares. Weiss Ratings raised Steel Dynamics from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, June 18th. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a report on Wednesday, July 29th. They issued a "buy" rating and a $300.00 price target for the company. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $256.00 to $260.00 and gave the company a "neutral" rating in a research report on Wednesday, July 22nd. Barclays lifted their price objective on shares of Steel Dynamics from $270.00 to $272.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company cut their target price on shares of Steel Dynamics from $275.00 to $255.00 and set an "overweight" rating for the company in a research note on Monday, August 24th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $257.27.

About Steel Dynamics

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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