400 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Acquired by HHM Wealth Advisors LLC

HHM Wealth Advisors LLC acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 400 shares of the basic materials company’s stock, valued at approximately $52,000.

A number of other institutional investors have also added to or reduced their stakes in the stock. Daiwa Securities Group Inc. increased its position in Steel Dynamics by 0.5% during the 2nd quarter. Daiwa Securities Group Inc. now owns 38,420 shares of the basic materials company’s stock worth $4,975,000 after purchasing an additional 195 shares in the last quarter. Choreo LLC bought a new stake in Steel Dynamics during the 2nd quarter worth approximately $344,000. Prudential PLC grew its holdings in Steel Dynamics by 10.7% during the 2nd quarter. Prudential PLC now owns 71,009 shares of the basic materials company’s stock worth $9,196,000 after acquiring an additional 6,860 shares during the last quarter. LSV Asset Management grew its holdings in Steel Dynamics by 3.9% during the 2nd 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 during the last quarter. Finally, Ballentine Partners LLC grew its holdings in Steel Dynamics by 46.1% during the 2nd quarter. Ballentine Partners LLC now owns 2,235 shares of the basic materials company’s stock worth $289,000 after acquiring an additional 705 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on STLD. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. Bank of America reduced 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. Morgan Stanley boosted their target price on shares of Steel Dynamics from $134.00 to $138.00 and gave the stock an “equal weight” rating in a report on Thursday, August 15th. JPMorgan Chase & Co. raised shares of Steel Dynamics from an “underweight” rating to a “neutral” rating and boosted their target price for the stock from $120.00 to $131.00 in a report on Monday. Finally, Jefferies Financial Group began coverage on shares of Steel Dynamics in a research note on Monday, May 20th. They issued a “hold” rating and a $150.00 price objective on the stock. Six equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Steel Dynamics presently has an average rating of “Hold” and a consensus price target of $143.43.

Steel Dynamics Trading Down 0.6 %

NASDAQ:STLD opened at $108.10 on Thursday. The firm’s fifty day moving average is $121.76 and its 200-day moving average is $129.85. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. Steel Dynamics, Inc. has a 52 week low of $95.53 and a 52 week high of $151.34. The firm has a market cap of $16.99 billion, a P/E ratio of 7.42 and a beta of 1.32.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.05. The business had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. Steel Dynamics’s revenue was down 8.8% on a year-over-year basis. During the same period in the prior year, the firm earned $4.81 earnings per share. Equities analysts expect that Steel Dynamics, Inc. will post 10.74 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, October 11th. Investors of record on Monday, September 30th will be paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.70%. The ex-dividend date is Monday, September 30th. Steel Dynamics’s dividend payout ratio 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.