Wealthfront Advisers LLC Raises Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Wealthfront Advisers LLC boosted its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 32.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 33,923 shares of the basic materials company's stock after buying an additional 8,256 shares during the quarter. Wealthfront Advisers LLC's holdings in Steel Dynamics were worth $4,243,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. bought a new position in Steel Dynamics in the 1st quarter valued at approximately $25,000. Grove Bank & Trust boosted its position in shares of Steel Dynamics by 194.7% during the first quarter. Grove Bank & Trust now owns 277 shares of the basic materials company's stock valued at $35,000 after buying an additional 183 shares during the period. Wayfinding Financial LLC bought a new stake in shares of Steel Dynamics during the first quarter valued at approximately $36,000. Bartlett & CO. Wealth Management LLC bought a new position in Steel Dynamics in the first quarter worth approximately $38,000. Finally, Investment Management Corp VA ADV acquired a new position in shares of Steel Dynamics during the fourth quarter worth $40,000. Institutional investors own 82.41% of the company's stock.

Steel Dynamics Stock Up 2.9%

Steel Dynamics stock opened at $131.15 on Friday. The company has a debt-to-equity ratio of 0.44, a quick ratio of 1.38 and a current ratio of 2.74. The firm has a 50 day moving average price of $131.63 and a 200 day moving average price of $127.31. The company has a market capitalization of $19.47 billion, a PE ratio of 17.32, a price-to-earnings-growth ratio of 0.99 and a beta of 1.37. 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 posted its earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share (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 analyst estimates of $4.17 billion. During the same period in the previous year, the business posted $3.67 EPS. Research analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Monday, June 30th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date was Monday, June 30th. Steel Dynamics's dividend payout ratio is currently 26.42%.

Analyst Upgrades and Downgrades

STLD has been the subject of a number of recent research reports. UBS Group upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price objective for the company in a report on Monday, March 24th. Morgan Stanley lifted their price target 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 boosted their price objective for the stock from $135.00 to $145.00 in a report on Monday, March 31st. JPMorgan Chase & Co. upped their price target on shares of Steel Dynamics from $138.00 to $150.00 and gave the stock a "neutral" rating in a research report on Monday. Finally, Wall Street Zen lowered shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. One equities 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $149.33.

Insider Buying and Selling

In other Steel Dynamics news, SVP Miguel Alvarez sold 7,495 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was 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 owned 125,319 shares of the company's stock, valued at approximately $16,950,647.94. The trade was a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gabriel Shaheen sold 1,254 shares of the company's stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $134.11, for a total value of $168,173.94. Following the transaction, the director directly owned 81,812 shares in the company, valued at approximately $10,971,807.32. This represents a 1.51% decrease in their position. The disclosure for this sale can be found here. 6.30% of the stock is owned by corporate insiders.

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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