Steel Dynamics, Inc. (NASDAQ:STLD) Shares Acquired by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 31.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,511 shares of the basic materials company's stock after acquiring an additional 6,604 shares during the quarter. Wealth Enhancement Advisory Services LLC's holdings in Steel Dynamics were worth $3,441,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of STLD. Sigma Planning Corp boosted its stake in shares of Steel Dynamics by 19.4% in the fourth quarter. Sigma Planning Corp now owns 2,822 shares of the basic materials company's stock worth $322,000 after acquiring an additional 459 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Steel Dynamics by 12.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,027,341 shares of the basic materials company's stock valued at $117,189,000 after purchasing an additional 114,485 shares in the last quarter. Checchi Capital Advisers LLC grew its holdings in shares of Steel Dynamics by 20.0% during the fourth quarter. Checchi Capital Advisers LLC now owns 1,928 shares of the basic materials company's stock worth $220,000 after buying an additional 322 shares in the last quarter. Mn Services Vermogensbeheer B.V. grew its holdings in shares of Steel Dynamics by 4.6% during the fourth quarter. Mn Services Vermogensbeheer B.V. now owns 27,100 shares of the basic materials company's stock worth $3,091,000 after buying an additional 1,200 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Steel Dynamics in the fourth quarter valued at about $10,555,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on STLD shares. BMO Capital Markets raised Steel Dynamics from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $135.00 to $145.00 in a research note on Monday, March 31st. UBS Group upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price objective for the company in a research report on Monday, March 24th. Wall Street Zen downgraded Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Wolfe Research raised Steel Dynamics from an "underperform" rating to a "peer perform" rating in a report on Thursday, February 27th. Finally, Morgan Stanley raised their price objective on Steel Dynamics from $140.00 to $145.00 and gave the stock an "overweight" rating in a report on Friday, June 20th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, Steel Dynamics presently has an average rating of "Moderate Buy" and an average target price of $148.00.

Steel Dynamics Stock Performance

Shares of STLD stock traded down $0.29 during mid-day trading on Friday, hitting $131.21. The stock had a trading volume of 1,875,563 shares, compared to its average volume of 1,533,597. The firm has a market cap of $19.48 billion, a PE ratio of 17.33, a PEG ratio of 0.97 and a beta of 1.38. The company's 50-day simple moving average is $129.97 and its 200-day simple moving average is $126.05. 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 fifty-two week low of $103.17 and a fifty-two week high of $155.56.

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

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.52%. Steel Dynamics's dividend payout ratio (DPR) is presently 26.42%.

Insider Transactions at Steel Dynamics

In related news, SVP Miguel Alvarez sold 7,495 shares of the firm's stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 125,319 shares of the company's stock, valued at $16,950,647.94. This trade represents a 5.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Gabriel Shaheen sold 1,254 shares of the business's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $134.11, for a total value of $168,173.94. Following the sale, the director now owns 81,812 shares in the company, valued at approximately $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 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.