Private Advisory Group LLC Takes Position in Steel Dynamics, Inc. $STLD

Private Advisory Group LLC purchased a new position in Steel Dynamics, Inc. (NASDAQ:STLD) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 2,548 shares of the basic materials company’s stock, valued at approximately $585,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Prosperity Bancshares Inc acquired a new position in Steel Dynamics in the 4th quarter worth about $25,000. MV Capital Management Inc. acquired a new stake in shares of Steel Dynamics during the 4th quarter valued at about $27,000. Cedar Mountain Advisors LLC acquired a new stake in shares of Steel Dynamics during the 1st quarter valued at about $31,000. DV Equities LLC bought a new stake in shares of Steel Dynamics in the 4th quarter valued at approximately $33,000. Finally, Torren Management LLC bought a new stake in shares of Steel Dynamics in the 4th quarter valued at approximately $34,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on STLD shares. Wells Fargo & Company dropped their price objective on Steel Dynamics from $291.00 to $275.00 and set an “overweight” rating on the stock in a report on Wednesday, July 22nd. UBS Group boosted their target price on shares of Steel Dynamics from $165.00 to $276.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. JPMorgan Chase & Co. increased their price target on shares of Steel Dynamics from $256.00 to $260.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 22nd. KeyCorp restated an “overweight” rating on shares of Steel Dynamics in a report on Wednesday, July 22nd. Finally, Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. Eight investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $259.09.

Steel Dynamics Stock Down 1.8%

STLD stock opened at $255.77 on Friday. The stock has a market capitalization of $36.66 billion, a price-to-earnings ratio of 23.19, a price-to-earnings-growth ratio of 0.48 and a beta of 1.52. The company has a 50-day moving average of $248.68 and a two-hundred day moving average of $220.16. Steel Dynamics, Inc. has a 52-week low of $124.77 and a 52-week high of $288.74. The company has a debt-to-equity ratio of 0.45, a current ratio of 3.18 and a quick ratio of 1.45.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, July 21st. The basic materials company reported $3.69 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 for the quarter, compared to analyst estimates of $5.56 billion. During the same period in the previous year, the company posted $2.01 earnings per share. The firm’s revenue for the quarter was up 33.4% on a year-over-year basis. As a group, equities research analysts anticipate that Steel Dynamics, Inc. will post 17.16 EPS for the current year.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP James Stanley Anderson sold 10,000 shares of Steel Dynamics stock in a transaction that occurred on Friday, June 5th. The stock was sold at an average price of $268.70, for a total value of $2,687,000.00. Following the transaction, the senior vice president directly owned 102,837 shares of the company’s stock, valued at $27,632,301.90. The trade was a 8.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 6.60% of the stock is owned by company insiders.

Steel Dynamics Profile

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.