Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. reduced its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 18.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,275 shares of the basic materials company’s stock after selling 520 shares during the quarter. Stratos Wealth Partners LTD.’s holdings in Steel Dynamics were worth $285,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Grove Bank & Trust increased its holdings in Steel Dynamics by 194.7% in the first quarter. Grove Bank & Trust now owns 277 shares of the basic materials company’s stock worth $35,000 after buying an additional 183 shares during the last quarter. Wayfinding Financial LLC acquired a new stake in shares of Steel Dynamics in the first quarter valued at $36,000. Bartlett & CO. Wealth Management LLC acquired a new stake in shares of Steel Dynamics in the first quarter valued at $38,000. Investment Management Corp VA ADV acquired a new stake in Steel Dynamics in the fourth quarter worth about $40,000. Finally, Park Square Financial Group LLC bought a new position in shares of Steel Dynamics during the 4th quarter valued at about $45,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on STLD shares. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 price objective for the company in a research report on Monday, March 24th. Wall Street Zen lowered shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. BMO Capital Markets upgraded shares of Steel Dynamics from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $135.00 to $145.00 in a research note on Monday, March 31st. JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $138.00 to $150.00 and gave the company a “neutral” rating in a research note on Monday. Finally, Morgan Stanley boosted their price target on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an “overweight” rating in a research note on Friday, June 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $149.33.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $128.86 on Wednesday. The company has a 50 day moving average price of $131.66 and a 200-day moving average price of $127.19. The company has a quick ratio of 1.38, a current ratio of 2.74 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $19.13 billion, a PE ratio of 17.02, a P/E/G ratio of 1.04 and a beta of 1.37. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $155.56.

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

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 11th. Investors of record on Monday, June 30th were paid a $0.50 dividend. The ex-dividend date was Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.55%. Steel Dynamics’s dividend payout ratio is currently 26.42%.

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.