Valeo Financial Advisors LLC Purchases 6,259 Shares of Steel Dynamics, Inc. $STLD

Key Points

• Valeo Financial Advisors LLC increased its stake in Steel Dynamics, Inc. by 110.1%, purchasing an additional 6,259 shares, bringing its total holdings to 11,946 shares valued at $1,529,000.
• Steel Dynamics recently reported earnings of $2.01 EPS for the quarter, slightly missing the consensus estimate, with revenue totaling $4.57 billion, down 1.5% year-over-year.
• The company announced a quarterly dividend of $0.50 per share, with a yield of 1.4%, scheduled for payment on October 10th, impacting a payout ratio of 29.15%.

Valeo Financial Advisors LLC raised its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 110.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,946 shares of the basic materials company's stock after buying an additional 6,259 shares during the quarter. Valeo Financial Advisors LLC's holdings in Steel Dynamics were worth $1,529,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Knights of Columbus Asset Advisors LLC raised its stake in shares of Steel Dynamics by 3.5% in the second quarter. Knights of Columbus Asset Advisors LLC now owns 6,218 shares of the basic materials company's stock valued at $796,000 after buying an additional 209 shares during the period. 111 Capital raised its stake in shares of Steel Dynamics by 366.2% in the second quarter. 111 Capital now owns 10,023 shares of the basic materials company's stock valued at $1,283,000 after buying an additional 7,873 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of Steel Dynamics in the second quarter valued at $60,000. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Steel Dynamics by 4.0% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 19,313 shares of the basic materials company's stock valued at $2,472,000 after buying an additional 743 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its stake in shares of Steel Dynamics by 40.6% in the second quarter. Robeco Institutional Asset Management B.V. now owns 1,675,973 shares of the basic materials company's stock valued at $214,541,000 after buying an additional 484,304 shares during the period. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $142.73 on Wednesday. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $155.56. The business has a 50-day simple moving average of $132.09 and a 200 day simple moving average of $129.56. 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 $21.01 billion, a price-to-earnings ratio of 20.81, a PEG ratio of 1.15 and a beta of 1.40.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its earnings results on Monday, July 21st. The basic materials company reported $2.01 EPS for the quarter, missing the consensus estimate of $2.05 by ($0.04). Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%.The business had revenue of $4.57 billion for the quarter, compared to analysts' expectations of $4.82 billion. During the same quarter in the previous year, the firm earned $2.72 earnings per share. Steel Dynamics's quarterly revenue was down 1.5% compared to the same quarter last year. On average, research analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 10th. Investors of record on Tuesday, September 30th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Steel Dynamics's payout ratio is presently 29.15%.

Insider Buying and Selling

In related news, SVP Christopher A. Graham sold 12,000 shares of the business's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the completion of the transaction, the senior vice president directly owned 66,738 shares in the company, valued at $8,456,371.98. The trade was a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

STLD has been the subject of several recent research reports. Morgan Stanley lifted their price target on Steel Dynamics from $140.00 to $145.00 and gave the company an "overweight" rating in a research report on Friday, June 20th. Weiss Ratings reiterated a "hold (c)" rating on shares of Steel Dynamics in a research report on Saturday, September 27th. Wells Fargo & Company lifted their price target on Steel Dynamics from $143.00 to $150.00 and gave the company an "overweight" rating in a research report on Monday, September 15th. Finally, JPMorgan Chase & Co. lifted their price target on Steel Dynamics from $138.00 to $150.00 and gave the company a "neutral" rating in a research report on Monday, July 14th. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $148.78.

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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