HB Wealth Management LLC Has $469,000 Position in Steel Dynamics, Inc. (NASDAQ:STLD)

HB Wealth Management LLC increased its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 6.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,165 shares of the basic materials company’s stock after buying an additional 202 shares during the quarter. HB Wealth Management LLC’s holdings in Steel Dynamics were worth $469,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of STLD. Norges Bank bought a new position in shares of Steel Dynamics during the fourth quarter worth about $221,817,000. Ameriprise Financial Inc. grew its position in Steel Dynamics by 165.4% during the third quarter. Ameriprise Financial Inc. now owns 2,014,956 shares of the basic materials company’s stock worth $212,447,000 after buying an additional 1,255,751 shares in the last quarter. Sapient Capital LLC purchased a new stake in Steel Dynamics during the 4th quarter valued at about $38,644,000. AEGON ASSET MANAGEMENT UK Plc bought a new position in Steel Dynamics during the 4th quarter worth approximately $14,762,000. Finally, Schroder Investment Management Group increased its stake in Steel Dynamics by 15.3% in the 4th quarter. Schroder Investment Management Group now owns 743,697 shares of the basic materials company’s stock worth $87,831,000 after purchasing an additional 98,764 shares during the period. Institutional investors own 82.41% of the company’s stock.

Analyst Ratings Changes

STLD has been the topic of several recent analyst reports. Bank of America cut their target price on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. Citigroup raised their target price 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. increased their price target 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. Jefferies Financial Group assumed coverage on Steel Dynamics in a research report on Monday, May 20th. They issued a “hold” rating and a $150.00 price target on the stock. Finally, BMO Capital Markets reduced their price target on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a report on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, Steel Dynamics has an average rating of “Hold” and a consensus target price of $129.63.

Insider Activity

In other Steel Dynamics news, SVP Christopher A. Graham sold 21,000 shares of the company’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 completion of the transaction, the senior vice president now directly owns 60,415 shares in the company, valued at $8,265,376.15. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 6.10% of the company’s stock.

Steel Dynamics Stock Performance

Steel Dynamics stock traded down $2.75 during midday trading on Friday, reaching $124.38. 547,525 shares of the company traded hands, compared to its average volume of 1,223,613. The firm has a market capitalization of $19.54 billion, a price-to-earnings ratio of 8.73 and a beta of 1.35. Steel Dynamics, Inc. has a 12 month low of $95.53 and a 12 month high of $151.34. 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 has a 50 day moving average of $129.82 and a two-hundred day moving average of $128.90.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the prior year, the business earned $4.01 earnings per share. Steel Dynamics’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, research analysts predict that Steel Dynamics, Inc. will post 11.64 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently announced 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 of this dividend is Friday, June 28th. This represents a $1.84 annualized dividend and a yield of 1.48%. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.64%.

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.