Wealth Alliance LLC Purchases 470 Shares of Steel Dynamics, Inc. $STLD

Wealth Alliance LLC increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 18.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,057 shares of the basic materials company’s stock after acquiring an additional 470 shares during the period. Wealth Alliance LLC’s holdings in Steel Dynamics were worth $391,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Price T Rowe Associates Inc. MD boosted its stake in shares of Steel Dynamics by 25.5% during the first quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company’s stock valued at $883,854,000 after purchasing an additional 1,437,897 shares in the last quarter. Nordea Investment Management AB raised its holdings in Steel Dynamics by 43.3% in the 2nd quarter. Nordea Investment Management AB now owns 2,088,372 shares of the basic materials company’s stock valued at $271,238,000 after buying an additional 630,935 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in Steel Dynamics by 40.6% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,675,973 shares of the basic materials company’s stock worth $214,541,000 after acquiring an additional 484,304 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Steel Dynamics by 3.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,599,076 shares of the basic materials company’s stock worth $200,012,000 after acquiring an additional 52,218 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in Steel Dynamics by 2.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,405,666 shares of the basic materials company’s stock valued at $175,821,000 after acquiring an additional 30,759 shares during the period. 82.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on STLD shares. Citigroup lifted their price target on shares of Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. BMO Capital Markets raised their target price on Steel Dynamics from $155.00 to $167.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. The Goldman Sachs Group set a $172.00 price target on Steel Dynamics and gave the company a “neutral” rating in a research report on Friday, October 31st. UBS Group set a $165.00 price objective on Steel Dynamics in a research report on Tuesday, November 4th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Steel Dynamics in a report on Wednesday, October 8th. Seven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $170.11.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $154.59 on Friday. The firm has a 50 day moving average of $145.17 and a 200-day moving average of $135.42. The company has a market cap of $22.58 billion, a price-to-earnings ratio of 20.48, a price-to-earnings-growth ratio of 1.39 and a beta of 1.45. The company has a quick ratio of 1.34, a current ratio of 3.11 and a debt-to-equity ratio of 0.43. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $164.73.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share for the quarter, beating the consensus estimate of $2.63 by $0.11. The firm had revenue of $4.83 billion during the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The business’s revenue was up 11.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.05 earnings per share. On average, equities analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.50 per share. The ex-dividend date is Wednesday, December 31st. This represents a $2.00 annualized dividend and a dividend yield of 1.3%. Steel Dynamics’s payout ratio is currently 26.49%.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Miguel Alvarez sold 8,251 shares of the company’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the transaction, the senior vice president directly owned 117,068 shares of the company’s stock, valued at $19,057,499.72. This represents a 6.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 6.30% of the stock is owned by insiders.

About Steel Dynamics

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.