Steel Dynamics, Inc. $STLD Shares Purchased by Hantz Financial Services Inc.

Hantz Financial Services Inc. boosted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 29.6% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,287 shares of the basic materials company’s stock after purchasing an additional 523 shares during the quarter. Hantz Financial Services Inc.’s holdings in Steel Dynamics were worth $293,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Cary Street Partners Investment Advisory LLC raised its stake in Steel Dynamics by 493.9% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock valued at $25,000 after purchasing an additional 163 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new position in Steel Dynamics in the 1st quarter valued at $25,000. Trust Co. of Toledo NA OH acquired a new stake in shares of Steel Dynamics in the 2nd quarter worth $30,000. Zions Bancorporation National Association UT acquired a new stake in shares of Steel Dynamics in the 1st quarter worth $32,000. Finally, WPG Advisers LLC acquired a new stake in shares of Steel Dynamics in the 1st quarter worth $32,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STLD has been the subject of a number of recent research reports. The Goldman Sachs Group set a $172.00 target price on Steel Dynamics and gave the stock a “neutral” rating in a research note on Friday. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Steel Dynamics in a research note on Wednesday, October 8th. Jefferies Financial Group raised their target price on Steel Dynamics from $165.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, October 22nd. Wells Fargo & Company raised their target price on Steel Dynamics from $150.00 to $169.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 22nd. Finally, UBS Group set a $158.00 target price on Steel Dynamics and gave the stock a “buy” rating in a research note on Tuesday, October 21st. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $169.33.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $156.80 on Monday. The stock has a market cap of $22.90 billion, a PE ratio of 20.77, a P/E/G ratio of 1.39 and a beta of 1.40. The company has a current ratio of 3.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $164.73. The stock has a fifty day simple moving average of $141.10 and a 200-day simple moving average of $133.53.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Monday, October 20th. The basic materials company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates of $2.63 by $0.11. The business had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.The company’s revenue was up 11.2% compared to the same quarter last year. During the same period in the prior year, the business posted $2.05 EPS. Equities analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Tuesday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is 26.49%.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of Steel Dynamics stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total value of $1,343,180.29. Following the completion of the transaction, the senior vice president directly owned 117,068 shares of the company’s stock, valued at $19,057,499.72. The trade was a 6.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 6.30% of the stock is currently owned by corporate insiders.

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.