Vanguard Personalized Indexing Management LLC Purchases 3,327 Shares of Steel Dynamics, Inc. $STLD

Key Points

• Vanguard Personalized Indexing Management LLC increased its stake in Steel Dynamics by 16.2%, acquiring an additional 3,327 shares, bringing its total holdings to 23,874 shares worth approximately $3,056,000.
• Multiple investment firms have adjusted their forecasts for Steel Dynamics, with Morgan Stanley and Wells Fargo raising their target prices to $145 and $150, respectively, indicating a positive outlook for the stock.
• Steel Dynamics announced a quarterly dividend of $0.50, representing a 1.4% yield, which was paid to shareholders of record as of September 30.

Vanguard Personalized Indexing Management LLC lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 16.2% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 23,874 shares of the basic materials company's stock after acquiring an additional 3,327 shares during the quarter. Vanguard Personalized Indexing Management LLC's holdings in Steel Dynamics were worth $3,056,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Apollon Wealth Management LLC increased its position in shares of Steel Dynamics by 63.4% during the second quarter. Apollon Wealth Management LLC now owns 4,659 shares of the basic materials company's stock worth $596,000 after acquiring an additional 1,808 shares during the period. Trust Co. of Toledo NA OH purchased a new position in shares of Steel Dynamics during the second quarter worth approximately $30,000. Inspire Investing LLC increased its position in shares of Steel Dynamics by 3.0% during the second quarter. Inspire Investing LLC now owns 16,494 shares of the basic materials company's stock worth $2,111,000 after acquiring an additional 477 shares during the period. Aberdeen Group plc increased its position in shares of Steel Dynamics by 5.5% during the second quarter. Aberdeen Group plc now owns 165,822 shares of the basic materials company's stock worth $21,227,000 after acquiring an additional 8,577 shares during the period. Finally, Stiles Financial Services Inc increased its position in shares of Steel Dynamics by 3.7% during the second quarter. Stiles Financial Services Inc now owns 22,517 shares of the basic materials company's stock worth $2,882,000 after acquiring an additional 807 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

STLD has been the topic of a number of research reports. 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 research report on Friday, June 20th. Weiss Ratings reissued a "hold (c)" rating on shares of Steel Dynamics in a report on Wednesday, October 8th. Wells Fargo & Company lifted their price objective on shares of Steel Dynamics from $143.00 to $150.00 and gave the company an "overweight" rating in a report on Monday, September 15th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Steel Dynamics from $150.00 to $160.00 and gave the company a "neutral" rating in a report on Monday. Eight investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $149.89.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total value of $1,520,520.00. Following the completion of the transaction, the senior vice president owned 66,738 shares of the company's stock, valued at approximately $8,456,371.98. This trade represents a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 6.30% of the stock is currently owned by company insiders.

Steel Dynamics Price Performance

Shares of STLD opened at $146.05 on Thursday. The company has a market cap of $21.50 billion, a price-to-earnings ratio of 21.29, a price-to-earnings-growth ratio of 1.19 and a beta of 1.40. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56. 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 company has a 50 day moving average of $134.68 and a two-hundred day moving average of $130.32.

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

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.4%. The ex-dividend date was Tuesday, September 30th. Steel Dynamics's dividend payout ratio (DPR) is 29.15%.

Steel Dynamics Company 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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