HighTower Advisors LLC Decreases Stock Position in Steel Dynamics, Inc. $STLD

HighTower Advisors LLC decreased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 7.5% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 57,998 shares of the basic materials company’s stock after selling 4,723 shares during the quarter. HighTower Advisors LLC’s holdings in Steel Dynamics were worth $13,308,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of STLD. Keating Financial Advisory Services Inc. grew its position in shares of Steel Dynamics by 27.1% during the second quarter. Keating Financial Advisory Services Inc. now owns 197 shares of the basic materials company’s stock worth $45,000 after buying an additional 42 shares in the last quarter. Jacobi Capital Management LLC lifted its stake in Steel Dynamics by 1.6% in the fourth quarter. Jacobi Capital Management LLC now owns 3,533 shares of the basic materials company’s stock worth $599,000 after acquiring an additional 55 shares during the last quarter. Hohimer Wealth Management LLC lifted its stake in Steel Dynamics by 1.1% in the fourth quarter. Hohimer Wealth Management LLC now owns 5,708 shares of the basic materials company’s stock worth $967,000 after acquiring an additional 61 shares during the last quarter. Nilsine Partners LLC grew its holdings in Steel Dynamics by 6.8% during the 2nd quarter. Nilsine Partners LLC now owns 969 shares of the basic materials company’s stock worth $222,000 after acquiring an additional 62 shares in the last quarter. Finally, Kestra Private Wealth Services LLC increased its position in shares of Steel Dynamics by 2.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 2,396 shares of the basic materials company’s stock valued at $431,000 after purchasing an additional 64 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

STLD has been the subject of several recent analyst reports. Morgan Stanley decreased their price objective on shares of 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. Weiss Ratings raised Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, June 18th. 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 report on Monday, August 24th. UBS Group upped their price objective on Steel Dynamics from $165.00 to $276.00 and gave the stock a “neutral” rating in a research report on Monday, August 10th. Finally, Barclays increased their price objective on Steel Dynamics from $270.00 to $272.00 and gave the company an “overweight” rating in a report on Wednesday, July 22nd. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $258.45.

Steel Dynamics Stock Up 0.2%

STLD opened at $240.69 on Thursday. The business’s 50-day simple moving average is $242.21 and its 200-day simple moving average is $226.31. The company has a debt-to-equity ratio of 0.45, a quick ratio of 1.45 and a current ratio of 3.18. Steel Dynamics, Inc. has a one year low of $129.41 and a one year high of $288.74. The stock has a market capitalization of $34.50 billion, a P/E ratio of 21.82, a price-to-earnings-growth ratio of 0.45 and a beta of 1.50.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, July 21st. The basic materials company reported $3.69 earnings per share (EPS) 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 analysts’ expectations of $5.56 billion. Steel Dynamics had a return on equity of 18.12% and a net margin of 7.83%.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. Analysts anticipate that Steel Dynamics, Inc. will post 17.16 EPS for the current year.

Steel Dynamics Announces Dividend

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

Steel Dynamics Profile

Steel Dynamics, Inc is a steel producer and metals recycler headquartered in Fort Wayne, Indiana. Founded in 1993, the company operates electric arc furnaces that use recycled steel and other metallic inputs to manufacture a broad range of steel products. Its customers include companies in the construction, automotive, manufacturing, transportation, energy and appliance industries.

Steel Dynamics’ steel operations produce flat-rolled steel, structural steel, rail, engineered bar products and other specialty steel products.