Global Retirement Partners LLC Purchases New Holdings in Steel Dynamics, Inc. $STLD

Global Retirement Partners LLC bought a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,538 shares of the basic materials company’s stock, valued at approximately $812,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Prosperity Bancshares Inc bought a new stake in Steel Dynamics during the 4th quarter worth about $25,000. MV Capital Management Inc. acquired a new position in Steel Dynamics during the 4th quarter valued at about $27,000. Cedar Mountain Advisors LLC bought a new position in shares of Steel Dynamics in the 1st quarter valued at about $31,000. DV Equities LLC bought a new position in shares of Steel Dynamics in the 4th quarter valued at about $33,000. Finally, Torren Management LLC acquired a new stake in shares of Steel Dynamics during the 4th quarter worth approximately $34,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Down 3.2%

STLD opened at $249.81 on Wednesday. The stock has a market capitalization of $35.81 billion, a P/E ratio of 22.65, a P/E/G ratio of 0.48 and a beta of 1.52. The company has a current ratio of 3.18, a quick ratio of 1.45 and a debt-to-equity ratio of 0.45. Steel Dynamics, Inc. has a 12 month low of $124.77 and a 12 month high of $288.74. The firm’s fifty day simple moving average is $248.10 and its 200 day simple moving average is $221.61.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.63 by $0.06. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.The business had revenue of $6.09 billion during the quarter, compared to the consensus estimate of $5.56 billion. During the same period last year, the company earned $2.01 earnings per share. Steel Dynamics’s quarterly revenue was up 33.4% on a year-over-year basis. As a group, research analysts anticipate that Steel Dynamics, Inc. will post 17.16 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 9th. Shareholders of record on Wednesday, September 30th will be given a dividend of $0.53 per share. This represents a $2.12 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Steel Dynamics’s dividend payout ratio is 19.22%.

Wall Street Analysts Forecast Growth

STLD has been the topic of a number of recent research reports. Morgan Stanley reduced their price objective on shares of Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 22nd. Bank of America dropped their target price on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating for the company in a research report on Thursday, July 9th. Citigroup increased their price target on Steel Dynamics from $180.00 to $255.00 and gave the company a “buy” rating in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. raised their price target on Steel Dynamics from $256.00 to $260.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 22nd. Finally, UBS Group lifted their price objective on Steel Dynamics from $165.00 to $276.00 and gave the stock a “neutral” rating in a research note on Monday, August 10th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $259.09.

Insider Buying and Selling

In related news, SVP James Stanley Anderson sold 10,000 shares of the firm’s stock in a transaction dated Friday, June 5th. The shares were sold at an average price of $268.70, for a total value of $2,687,000.00. Following the completion of the sale, the senior vice president directly owned 102,837 shares in the company, valued at approximately $27,632,301.90. This trade represents a 8.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 6.60% of the stock is currently owned by corporate insiders.

About Steel Dynamics

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.