United Capital Financial Advisors LLC Invests $1.12 Million in Steel Dynamics, Inc. $STLD

United Capital Financial Advisors LLC purchased a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 4,880 shares of the basic materials company’s stock, valued at approximately $1,120,000.

A number of other hedge funds have also recently added to or reduced their stakes in STLD. Meeder Asset Management Inc. bought a new position in Steel Dynamics during the second quarter valued at approximately $26,000. Prosperity Bancshares Inc bought a new stake in Steel Dynamics in the fourth quarter worth approximately $25,000. Caitlin John LLC bought a new stake in Steel Dynamics in the second quarter worth approximately $35,000. MV Capital Management Inc. acquired a new position in shares of Steel Dynamics during the 4th quarter worth $27,000. Finally, Cedar Mountain Advisors LLC acquired a new position in shares of Steel Dynamics during the 1st quarter worth $31,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a research note on Wednesday, July 29th. They issued a “buy” rating and a $300.00 price objective for the company. Wells Fargo & Company decreased their price target on Steel Dynamics from $275.00 to $255.00 and set an “overweight” rating for the company in a research note on Monday, August 24th. Bank of America lowered their price objective on Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday, July 9th. UBS Group boosted their target price on Steel Dynamics from $165.00 to $276.00 and gave the stock a “neutral” rating in a report on Monday, August 10th. Finally, Morgan Stanley decreased their target price on Steel Dynamics from $270.00 to $260.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Steel Dynamics currently has a consensus rating of “Moderate Buy” and an average target price of $257.27.

Insiders Place Their Bets

In related news, SVP James Stanley Anderson sold 10,000 shares of the business’s stock in a transaction dated Friday, June 5th. The stock was sold at an average price of $268.70, for a total transaction of $2,687,000.00. Following the transaction, the senior vice president directly owned 102,837 shares in the company, valued at $27,632,301.90. The trade was a 8.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 6.60% of the stock is currently owned by company insiders.

Steel Dynamics Trading Down 0.5%

Shares of STLD stock opened at $234.66 on Friday. Steel Dynamics, Inc. has a 1 year low of $126.88 and a 1 year high of $288.74. The firm’s fifty day simple moving average is $242.07 and its 200 day simple moving average is $223.62. The firm has a market capitalization of $33.63 billion, a P/E ratio of 21.27, a price-to-earnings-growth ratio of 0.44 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 (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share for the quarter, beating analysts’ consensus estimates of $3.63 by $0.06. The firm had revenue of $6.09 billion during the quarter, compared to the consensus estimate of $5.56 billion. Steel Dynamics had a net margin of 7.83% and a return on equity of 18.12%. The business’s revenue was up 33.4% on a year-over-year basis. During the same period in the prior year, the firm earned $2.01 EPS. As a group, sell-side analysts predict that Steel Dynamics, Inc. will post 17.16 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, October 9th. Investors of record on Wednesday, September 30th will be given a dividend of $0.53 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. Steel Dynamics’s dividend payout ratio (DPR) is 19.22%.

Steel Dynamics Company 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.