Steel Dynamics, Inc. (NASDAQ:STLD) Stock Holdings Lifted by Farther Finance Advisors LLC

Farther Finance Advisors LLC increased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 10.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,535 shares of the basic materials company’s stock after buying an additional 145 shares during the period. Farther Finance Advisors LLC’s holdings in Steel Dynamics were worth $190,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of STLD. Norges Bank bought a new stake in Steel Dynamics in the fourth quarter valued at $336,426,000. Capital Research Global Investors increased its holdings in shares of Steel Dynamics by 29.4% in the 4th quarter. Capital Research Global Investors now owns 3,592,670 shares of the basic materials company’s stock worth $409,816,000 after acquiring an additional 815,629 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Steel Dynamics by 8.7% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 5,628,403 shares of the basic materials company’s stock valued at $642,033,000 after purchasing an additional 451,630 shares during the last quarter. GAMMA Investing LLC lifted its position in Steel Dynamics by 18,398.4% in the 1st quarter. GAMMA Investing LLC now owns 447,661 shares of the basic materials company’s stock valued at $55,993,000 after purchasing an additional 445,241 shares during the last quarter. Finally, First Trust Advisors LP boosted its stake in Steel Dynamics by 14.1% during the 4th quarter. First Trust Advisors LP now owns 3,179,062 shares of the basic materials company’s stock valued at $362,636,000 after purchasing an additional 393,516 shares during the period. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of STLD opened at $130.11 on Friday. The company has a debt-to-equity ratio of 0.44, a current ratio of 2.74 and a quick ratio of 1.38. The firm’s 50 day moving average is $129.00 and its 200-day moving average is $126.44. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $155.56. The stock has a market capitalization of $19.31 billion, a P/E ratio of 17.19, a P/E/G ratio of 0.90 and a beta of 1.38.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.40 by $0.04. The firm had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.17 billion. Steel Dynamics had a net margin of 6.80% and a return on equity of 13.26%. During the same quarter in the previous year, the business posted $3.67 earnings per share. Equities research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.54%. The ex-dividend date of this dividend is Monday, June 30th. Steel Dynamics’s dividend payout ratio is 26.42%.

Steel Dynamics announced that its board has initiated a share repurchase program on Monday, February 24th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the basic materials company to repurchase up to 7.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s board of directors believes its shares are undervalued.

Wall Street Analyst Weigh In

Several brokerages have commented on STLD. Morgan Stanley set a $140.00 price target on shares of Steel Dynamics and gave the company an “overweight” rating in a research note on Thursday, April 24th. BMO Capital Markets upgraded Steel Dynamics from a “market perform” rating to an “outperform” rating and raised their target price for the company from $135.00 to $145.00 in a research report on Monday, March 31st. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 target price on the stock in a research note on Monday, March 24th. Wall Street Zen lowered Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Friday, April 25th. Finally, Wolfe Research raised Steel Dynamics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, February 27th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, Steel Dynamics presently has an average rating of “Moderate Buy” and an average target price of $147.44.

Insider Activity

In other Steel Dynamics news, SVP Miguel Alvarez sold 7,495 shares of the business’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the sale, the senior vice president now directly owns 125,319 shares of the company’s stock, valued at $16,950,647.94. The trade was a 5.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Gabriel Shaheen sold 1,254 shares of the firm’s stock in a transaction on Friday, June 6th. The stock was sold at an average price of $134.11, for a total value of $168,173.94. Following the completion of the sale, the director now directly owns 81,812 shares of the company’s stock, valued at approximately $10,971,807.32. This trade represents a 1.51% decrease in their position. The disclosure for this sale can be found here. 6.30% of the stock is currently owned by company 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.