Sequoia Financial Advisors LLC Has $1.79 Million Position in Steel Dynamics, Inc. $STLD

Sequoia Financial Advisors LLC boosted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 66.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,554 shares of the basic materials company’s stock after purchasing an additional 4,208 shares during the period. Sequoia Financial Advisors LLC’s holdings in Steel Dynamics were worth $1,788,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Navellier & Associates Inc. increased its position in Steel Dynamics by 267.1% in the 4th quarter. Navellier & Associates Inc. now owns 31,728 shares of the basic materials company’s stock valued at $5,376,000 after acquiring an additional 23,084 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Steel Dynamics by 5.8% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 294,039 shares of the basic materials company’s stock valued at $51,769,000 after acquiring an additional 16,022 shares during the period. Providence First Trust Co acquired a new position in Steel Dynamics in the 4th quarter valued at approximately $398,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in Steel Dynamics by 15.0% in the 4th quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 19,602 shares of the basic materials company’s stock valued at $3,322,000 after acquiring an additional 2,559 shares during the period. Finally, Christine Messmer PC acquired a new position in Steel Dynamics in the 4th quarter valued at approximately $381,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on STLD. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a research note on Tuesday, April 14th. 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. Wall Street Zen raised Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. Bank of America cut shares of Steel Dynamics from a “buy” rating to a “neutral” rating and set a $250.00 price objective for the company. in a research report on Thursday, April 30th. Finally, Wells Fargo & Company increased their price objective on shares of Steel Dynamics from $207.00 to $235.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 22nd. Six research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $214.30.

Insider Buying and Selling

In other Steel Dynamics news, SVP Miguel Alvarez sold 4,825 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The stock was sold at an average price of $225.58, for a total value of $1,088,423.50. Following the completion of the sale, the senior vice president owned 122,257 shares of the company’s stock, valued at approximately $27,578,734.06. This trade represents a 3.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kenneth W. Cornew sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $224.87, for a total value of $1,124,350.00. Following the completion of the sale, the director directly owned 31,299 shares of the company’s stock, valued at $7,038,206.13. This trade represents a 13.77% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 6.60% of the company’s stock.

Steel Dynamics Trading Up 0.4%

NASDAQ:STLD opened at $235.97 on Tuesday. The company has a current ratio of 3.13, a quick ratio of 1.33 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $34.03 billion, a price-to-earnings ratio of 25.24, a PEG ratio of 0.50 and a beta of 1.48. The firm has a fifty day simple moving average of $194.99 and a two-hundred day simple moving average of $180.39. Steel Dynamics, Inc. has a 12 month low of $119.89 and a 12 month high of $243.73.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 EPS for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). The company had revenue of $5.20 billion during the quarter, compared to analyst estimates of $5.39 billion. Steel Dynamics had a return on equity of 15.54% and a net margin of 7.22%.The company’s revenue for the quarter was up 19.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.44 earnings per share. Analysts expect that Steel Dynamics, Inc. will post 14.77 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 10th. Shareholders of record on Tuesday, June 30th will be paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 0.9%. The ex-dividend date of this dividend is Tuesday, June 30th. Steel Dynamics’s dividend payout ratio (DPR) is 22.67%.

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.