Ameritas Advisory Services LLC Acquires New Position in Steel Dynamics, Inc. $STLD

Ameritas Advisory Services LLC acquired a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the second quarter, HoldingsChannel reports. The fund acquired 469 shares of the basic materials company’s stock, valued at approximately $60,000.

A number of other large investors also recently modified their holdings of the company. Harbour Capital Advisors LLC grew its position in shares of Steel Dynamics by 0.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 14,828 shares of the basic materials company’s stock worth $1,988,000 after buying an additional 80 shares during the last quarter. Hemington Wealth Management grew its position in shares of Steel Dynamics by 35.9% in the 1st quarter. Hemington Wealth Management now owns 318 shares of the basic materials company’s stock worth $39,000 after buying an additional 84 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Steel Dynamics by 1.6% in the 1st quarter. Sequoia Financial Advisors LLC now owns 5,803 shares of the basic materials company’s stock worth $726,000 after buying an additional 91 shares during the last quarter. Sunbelt Securities Inc. grew its position in shares of Steel Dynamics by 25.0% in the 1st quarter. Sunbelt Securities Inc. now owns 500 shares of the basic materials company’s stock worth $63,000 after buying an additional 100 shares during the last quarter. Finally, Avantax Advisory Services Inc. grew its position in shares of Steel Dynamics by 1.8% in the 1st quarter. Avantax Advisory Services Inc. now owns 6,467 shares of the basic materials company’s stock worth $809,000 after buying an additional 113 shares during the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of Steel Dynamics stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the completion of the transaction, the senior vice president owned 66,738 shares in the company, valued at approximately $8,456,371.98. The trade was a 15.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.30% of the company’s stock.

Steel Dynamics Stock Down 4.4%

Shares of NASDAQ:STLD opened at $141.23 on Monday. The stock has a fifty day simple moving average of $133.25 and a two-hundred day simple moving average of $129.94. The stock has a market capitalization of $20.79 billion, a price-to-earnings ratio of 20.59, a PEG ratio of 1.15 and a beta of 1.40. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $155.56. The company has a current ratio of 3.13, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Monday, July 21st. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.04). The company had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.82 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The firm’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.72 EPS. On average, research analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were paid a dividend of $0.50 per share. The ex-dividend date was Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. Steel Dynamics’s payout ratio is presently 29.15%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on STLD shares. Weiss Ratings restated a “hold (c)” rating on shares of Steel Dynamics in a research report on Wednesday, October 8th. Wells Fargo & Company lifted their price target on Steel Dynamics from $143.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday, September 15th. Morgan Stanley lifted their price target on Steel Dynamics from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, June 20th. Finally, JPMorgan Chase & Co. lifted their price target on Steel Dynamics from $138.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Steel Dynamics presently has a consensus rating of “Moderate Buy” and an average price target of $148.78.

Steel Dynamics Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. The Steel Operations segment offers hot rolled, cold rolled, and coated steel products; parallel flange beams and channel sections, flat bars, large unequal leg angles, and reinforcing steel bars, as well as standard strength carbon, intermediate alloy hardness, and premium grade rail products; engineered special-bar-quality products, merchant-bar-quality products, and other engineered round steel bars; channels, angles, flats, merchant rounds, and reinforcing steel bars; and specialty shapes and light structural steel products.