Measured Wealth Private Client Group LLC Grows Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Measured Wealth Private Client Group LLC raised its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 5.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,040 shares of the basic materials company’s stock after purchasing an additional 378 shares during the quarter. Measured Wealth Private Client Group LLC’s holdings in Steel Dynamics were worth $888,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD lifted its stake in shares of Steel Dynamics by 4.4% in the first quarter. Price T Rowe Associates Inc. MD now owns 3,604,492 shares of the basic materials company’s stock worth $534,295,000 after acquiring an additional 152,254 shares in the last quarter. Pacer Advisors Inc. lifted its stake in shares of Steel Dynamics by 7.0% in the second quarter. Pacer Advisors Inc. now owns 2,138,157 shares of the basic materials company’s stock worth $276,891,000 after acquiring an additional 140,042 shares in the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of Steel Dynamics by 1.3% in the second quarter. Thrivent Financial for Lutherans now owns 1,768,333 shares of the basic materials company’s stock worth $228,999,000 after acquiring an additional 22,390 shares in the last quarter. LSV Asset Management lifted its stake in shares of Steel Dynamics by 3.9% in the second quarter. LSV Asset Management now owns 1,410,070 shares of the basic materials company’s stock worth $182,604,000 after acquiring an additional 53,532 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its stake in shares of Steel Dynamics by 21.6% in the first quarter. Acadian Asset Management LLC now owns 1,137,230 shares of the basic materials company’s stock worth $168,550,000 after acquiring an additional 202,312 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Steel Dynamics Stock Down 1.8 %

NASDAQ:STLD opened at $132.77 on Thursday. The firm has a market capitalization of $20.49 billion, a PE ratio of 12.02 and a beta of 1.31. The stock has a 50 day moving average of $123.25 and a 200-day moving average of $126.61. Steel Dynamics, Inc. has a 52 week low of $104.08 and a 52 week high of $151.34. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, beating the consensus estimate of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The company had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same period in the prior year, the company earned $3.47 earnings per share. The business’s revenue was down 5.4% compared to the same quarter last year. Analysts predict that Steel Dynamics, Inc. will post 10.22 EPS for the current year.

Steel Dynamics Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.39%. The ex-dividend date of this dividend was Monday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is 16.65%.

Insider Buying and Selling

In related news, SVP Glenn Pushis sold 17,941 shares of the stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the transaction, the senior vice president now directly owns 146,693 shares of the company’s stock, valued at $19,523,371.37. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of the company’s stock in a transaction that occurred on Monday, October 21st. The stock was sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the sale, the senior vice president now directly owns 146,693 shares in the company, valued at $19,523,371.37. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Chad Bickford sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, October 28th. The stock was 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 owns 17,100 shares of the company’s stock, valued at $2,306,106. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.10% of the company’s stock.

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.