Advisory Services Network LLC Has $4.59 Million Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Advisory Services Network LLC increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 12.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 30,952 shares of the basic materials company’s stock after acquiring an additional 3,343 shares during the quarter. Advisory Services Network LLC’s holdings in Steel Dynamics were worth $4,588,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in STLD. Larson Financial Group LLC bought a new stake in Steel Dynamics in the first quarter valued at about $25,000. LifeSteps Financial Inc. bought a new stake in Steel Dynamics in the first quarter valued at approximately $26,000. CVA Family Office LLC acquired a new stake in Steel Dynamics during the fourth quarter worth approximately $28,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Steel Dynamics during the fourth quarter worth approximately $29,000. Finally, Lindbrook Capital LLC boosted its stake in Steel Dynamics by 117.5% in the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 134 shares during the period. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Stock Up 0.2 %

Shares of NASDAQ STLD traded up $0.22 during trading on Friday, hitting $129.99. 313,663 shares of the company traded hands, compared to its average volume of 1,223,973. Steel Dynamics, Inc. has a fifty-two week low of $95.53 and a fifty-two week high of $151.34. The firm has a market capitalization of $20.43 billion, a price-to-earnings ratio of 8.89 and a beta of 1.35. The business’s fifty day moving average is $129.23 and its 200 day moving average is $129.06. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.55 and a current ratio of 2.87.

Steel Dynamics (NASDAQ:STLD) 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 the consensus estimate of $3.54 by $0.13. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the company earned $4.01 earnings per share. The company’s quarterly revenue was down 4.1% on a year-over-year basis. Equities research analysts predict that Steel Dynamics, Inc. will post 11.64 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently disclosed 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 1.42%. The ex-dividend date is Friday, June 28th. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Insider Transactions at Steel Dynamics

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 owns 60,415 shares of the company’s stock, valued at $8,265,376.15. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 6.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. BMO Capital Markets decreased their target price on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 18th. Jefferies Financial Group initiated coverage on Steel Dynamics in a research note on Monday, May 20th. They set a “hold” rating and a $150.00 target price for the company. Bank of America reduced their price target on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Finally, JPMorgan Chase & Co. upped their target price on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $133.57.

About Steel Dynamics

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.