Zhang Financial LLC Acquires Shares of 2,328 Steel Dynamics, Inc. $STLD

Zhang Financial LLC bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,328 shares of the basic materials company’s stock, valued at approximately $419,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Prosperity Bancshares Inc bought a new stake in shares of Steel Dynamics during the fourth quarter valued at approximately $25,000. MV Capital Management Inc. purchased a new stake in Steel Dynamics in the fourth quarter worth $27,000. Sound Income Strategies LLC raised its holdings in Steel Dynamics by 1,500.0% in the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 150 shares in the last quarter. Cedar Mountain Advisors LLC bought a new position in Steel Dynamics in the first quarter worth $31,000. Finally, DV Equities LLC purchased a new position in Steel Dynamics during the fourth quarter valued at $33,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently commented on STLD shares. Barclays started coverage on shares of Steel Dynamics in a report on Thursday, May 21st. They set an “overweight” rating and a $270.00 target price on the stock. Bank of America decreased their price target on shares of Steel Dynamics from $280.00 to $260.00 and set a “neutral” rating for the company in a research note on Thursday, July 9th. Weiss Ratings raised shares of Steel Dynamics from a “buy (b-)” rating to a “buy (b)” rating in a research report on Thursday, June 18th. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday, April 18th. Finally, KeyCorp upped their price objective on shares of Steel Dynamics from $241.00 to $262.00 and gave the stock an “overweight” rating in a report on Wednesday, June 24th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $239.18.

Steel Dynamics Price Performance

NASDAQ STLD opened at $235.51 on Friday. Steel Dynamics, Inc. has a one year low of $119.89 and a one year high of $288.74. The stock has a 50-day moving average of $245.95 and a 200 day moving average of $208.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.33 and a current ratio of 3.13. The company has a market capitalization of $34.08 billion, a price-to-earnings ratio of 25.19, a PEG ratio of 0.44 and a beta of 1.53.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, April 21st. The basic materials company reported $2.78 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.79 by ($0.01). Steel Dynamics had a net margin of 7.22% and a return on equity of 15.54%. The company had revenue of $5.20 billion for the quarter, compared to analysts’ expectations of $5.39 billion. During the same period in the previous year, the business earned $1.44 EPS. The business’s revenue was up 19.1% compared to the same quarter last year. On average, sell-side analysts forecast that Steel Dynamics, Inc. will post 16.92 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 10th. Investors of record on Tuesday, June 30th were issued a $0.53 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $2.12 annualized dividend and a yield of 0.9%. Steel Dynamics’s dividend payout ratio (DPR) is currently 22.67%.

Insider Activity at Steel Dynamics

In other news, SVP Richard A. Poinsatte sold 2,300 shares of the stock in a transaction on Tuesday, May 12th. The stock was sold at an average price of $234.11, for a total transaction of $538,453.00. Following the transaction, the senior vice president directly owned 28,618 shares of the company’s stock, valued at $6,699,759.98. This represents a 7.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Miguel Alvarez sold 4,825 shares of the firm’s stock in a transaction 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 transaction, the senior vice president owned 122,257 shares in the company, valued at approximately $27,578,734.06. This trade represents a 3.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 22,125 shares of company stock worth $5,438,226. Company insiders own 6.60% of the company’s stock.

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.