Steel Dynamics, Inc. (NASDAQ:STLD) Shares Acquired by Financial Partners Group LLC

Financial Partners Group LLC boosted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 13.5% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 11,121 shares of the basic materials company’s stock after acquiring an additional 1,319 shares during the quarter. Financial Partners Group LLC’s holdings in Steel Dynamics were worth $1,440,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in STLD. Atomi Financial Group Inc. lifted its holdings in Steel Dynamics by 3.1% in the 1st quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company’s stock valued at $395,000 after purchasing an additional 79 shares in the last quarter. Csenge Advisory Group boosted its position in Steel Dynamics by 2.8% during the second quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock worth $381,000 after acquiring an additional 81 shares during the last quarter. Greenfield Savings Bank boosted its position in Steel Dynamics by 0.7% during the first quarter. Greenfield Savings Bank now owns 11,676 shares of the basic materials company’s stock worth $1,731,000 after acquiring an additional 85 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in Steel Dynamics by 9.0% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the basic materials company’s stock worth $126,000 after purchasing an additional 88 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of Steel Dynamics by 19.2% in the first quarter. Global Retirement Partners LLC now owns 570 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 92 shares during the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Trading Down 2.9 %

Steel Dynamics stock traded down $3.46 during midday trading on Monday, reaching $115.97. 1,323,736 shares of the stock traded hands, compared to its average volume of 1,236,932. The company has a current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25. The firm has a market cap of $18.22 billion, a PE ratio of 7.96 and a beta of 1.35. The company has a 50-day simple moving average of $125.88 and a two-hundred day simple moving average of $130.80. Steel Dynamics, Inc. has a 12-month low of $95.53 and a 12-month high of $151.34.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.05. The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. Steel Dynamics’s revenue was down 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $4.81 EPS. Research analysts expect that Steel Dynamics, Inc. will post 11.35 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on STLD shares. Jefferies Financial Group started coverage on Steel Dynamics in a report on Monday, May 20th. They set a “hold” rating and a $150.00 price target on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $118.00 to $120.00 and gave the company an “underweight” rating in a report on Tuesday, July 16th. Bank of America decreased their target price on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. Finally, BMO Capital Markets dropped their price target on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a research report on Tuesday, June 18th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $133.86.

Insider Buying and Selling

In related news, SVP Christopher A. Graham sold 21,000 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the completion of the transaction, the senior vice president now owns 60,415 shares in the company, valued at $8,265,376.15. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 6.00% of the stock is owned by 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.