Denali Advisors LLC Boosts Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Denali Advisors LLC grew its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 26.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 513 shares of the basic materials company’s stock after buying an additional 107 shares during the period. Denali Advisors LLC’s holdings in Steel Dynamics were worth $76,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in the business. CVA Family Office LLC acquired a new stake in Steel Dynamics during the fourth quarter worth approximately $28,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Steel Dynamics in the 4th quarter valued at $29,000. Lindbrook Capital LLC boosted 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 buying an additional 134 shares during the period. Security National Bank acquired a new stake in Steel Dynamics during the 4th quarter worth approximately $30,000. Finally, Exchange Traded Concepts LLC purchased a new position in Steel Dynamics in the 4th quarter valued at $44,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Insider Activity at Steel Dynamics

In other news, SVP Christopher A. Graham sold 21,000 shares of Steel Dynamics stock in a transaction dated 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 sale, the senior vice president now directly 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 this link. 6.10% of the stock is owned by corporate insiders.

Steel Dynamics Price Performance

Shares of STLD traded down $1.17 on Wednesday, reaching $127.13. The stock had a trading volume of 737,209 shares, compared to its average volume of 1,228,936. Steel Dynamics, Inc. has a twelve month low of $95.53 and a twelve month high of $151.34. The firm has a market capitalization of $19.98 billion, a PE ratio of 8.81 and a beta of 1.35. The firm has a 50-day moving average of $130.00 and a 200 day moving average of $128.93. The company has a quick ratio of 1.55, a current ratio of 2.87 and a debt-to-equity ratio of 0.29.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the previous year, the business earned $4.01 earnings per share. Steel Dynamics’s quarterly revenue was down 4.1% compared to the same quarter last year. Sell-side analysts expect that Steel Dynamics, Inc. will post 11.64 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Investors of record on Sunday, June 30th will be given a dividend of $0.46 per share. The ex-dividend date is Friday, June 28th. This represents a $1.84 annualized dividend and a dividend yield of 1.45%. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Wall Street Analysts Forecast Growth

STLD has been the topic of a number of recent analyst reports. BMO Capital Markets dropped their price target on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating on the stock in a research note on Tuesday, June 18th. Jefferies Financial Group assumed coverage on Steel Dynamics in a research report on Monday, May 20th. They set a “hold” rating and a $150.00 target price on the stock. Bank of America cut their target price on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. JPMorgan Chase & Co. lifted their price target on Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. Finally, Citigroup upped their price objective on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $129.63.

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.