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

Larson Financial Group LLC boosted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 9,465.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,844 shares of the basic materials company’s stock after acquiring an additional 18,647 shares during the period. Larson Financial Group LLC’s holdings in Steel Dynamics were worth $2,376,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Innealta Capital LLC bought a new stake in Steel Dynamics during the second quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in Steel Dynamics during the second quarter valued at $41,000. Cullen Frost Bankers Inc. increased its stake in Steel Dynamics by 33.3% during the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 100 shares during the last quarter. HHM Wealth Advisors LLC bought a new stake in Steel Dynamics during the second quarter valued at $52,000. Finally, Quest Partners LLC bought a new stake in Steel Dynamics during the third quarter valued at $62,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Performance

STLD stock opened at $143.57 on Monday. The company has a market capitalization of $21.86 billion, a P/E ratio of 12.99 and a beta of 1.31. The company has a 50-day simple moving average of $132.24 and a 200 day simple moving average of $127.44. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $1.98 by $0.07. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. The company’s quarterly revenue was down 5.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.47 earnings per share. Sell-side analysts predict that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend is Tuesday, December 31st. Steel Dynamics’s payout ratio is 16.65%.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of the company’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the sale, the vice president now directly owns 17,100 shares of the company’s stock, valued at approximately $2,306,106. This represents a 10.47 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Miguel Alvarez sold 6,650 shares of the company’s stock in a transaction dated Wednesday, November 13th. The shares were sold at an average price of $143.00, for a total transaction of $950,950.00. Following the completion of the sale, the senior vice president now directly owns 116,949 shares of the company’s stock, valued at $16,723,707. The trade was a 5.38 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 28,591 shares of company stock valued at $3,885,938. 6.10% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Bank of America upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and upped their price target for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. JPMorgan Chase & Co. upped their price target on shares of Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, Morgan Stanley lowered their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $144.29.

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.