Simplicity Wealth LLC Buys New Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Simplicity Wealth LLC purchased a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 5,865 shares of the basic materials company's stock, valued at approximately $869,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CVA Family Office LLC purchased a new position in shares of Steel Dynamics during the 4th quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Steel Dynamics in the fourth quarter valued at about $29,000. Lindbrook Capital LLC increased its stake in shares of Steel Dynamics by 117.5% during the fourth quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company's stock worth $29,000 after purchasing an additional 134 shares in the last quarter. Security National Bank acquired a new position in shares of Steel Dynamics during the 4th quarter worth about $30,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of Steel Dynamics during the 4th quarter worth about $44,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Insider Buying and Selling

In other news, SVP Christopher A. Graham sold 21,000 shares of the business's stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $136.81, for a total value of $2,873,010.00. Following the sale, the senior vice president now directly owns 60,415 shares of the company's stock, valued at approximately $8,265,376.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.10% of the company's stock.

Steel Dynamics Trading Down 0.6 %

Shares of STLD traded down $0.85 during mid-day trading on Monday, reaching $133.08. The stock had a trading volume of 1,123,701 shares, compared to its average volume of 1,178,804. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55. The business's fifty day moving average is $138.79 and its 200 day moving average is $125.78. Steel Dynamics, Inc. has a 52-week low of $90.55 and a 52-week high of $151.34. The firm has a market cap of $20.91 billion, a price-to-earnings ratio of 9.14 and a beta of 1.47.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.54 by $0.13. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter last year, the firm earned $4.01 EPS. The business's revenue was down 4.1% compared to the same quarter last year. On average, sell-side analysts predict that Steel Dynamics, Inc. will post 12.36 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Sunday, June 30th will be issued a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.38%. The ex-dividend date is Friday, June 28th. Steel Dynamics's dividend payout ratio is presently 12.64%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. UBS Group cut their price objective on Steel Dynamics from $120.00 to $119.00 and set a "neutral" rating for the company in a research note on Wednesday, January 24th. Citigroup increased their price objective on Steel Dynamics from $130.00 to $160.00 and gave the company a "buy" rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. lifted their target price on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an "underweight" rating in a research note on Tuesday, April 16th. BMO Capital Markets increased their target price on shares of Steel Dynamics from $110.00 to $120.00 and gave the company a "market perform" rating in a research report on Monday, March 18th. Finally, Jefferies Financial Group initiated coverage on shares of Steel Dynamics in a research report on Monday. They set a "hold" rating and a $150.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company. According to MarketBeat, Steel Dynamics presently has a consensus rating of "Hold" and an average target price of $125.29.

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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