Steel Dynamics, Inc. $STLD Stock Position Lifted by Geneos Wealth Management Inc.

Geneos Wealth Management Inc. lifted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 72.4% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,143 shares of the basic materials company’s stock after purchasing an additional 480 shares during the quarter. Geneos Wealth Management Inc.’s holdings in Steel Dynamics were worth $143,000 as of its most recent filing with the SEC.

Other large investors have also bought and sold shares of the company. Ritholtz Wealth Management boosted its stake in Steel Dynamics by 24.4% during the first quarter. Ritholtz Wealth Management now owns 6,687 shares of the basic materials company’s stock valued at $836,000 after buying an additional 1,310 shares in the last quarter. Farther Finance Advisors LLC boosted its stake in Steel Dynamics by 10.4% during the first quarter. Farther Finance Advisors LLC now owns 1,535 shares of the basic materials company’s stock valued at $190,000 after buying an additional 145 shares in the last quarter. Wealth Enhancement Advisory Services LLC boosted its stake in Steel Dynamics by 31.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 27,511 shares of the basic materials company’s stock valued at $3,441,000 after buying an additional 6,604 shares in the last quarter. Golden State Wealth Management LLC boosted its stake in Steel Dynamics by 124.1% during the first quarter. Golden State Wealth Management LLC now owns 948 shares of the basic materials company’s stock valued at $119,000 after buying an additional 525 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Steel Dynamics by 2.7% in the 1st quarter. State of Alaska Department of Revenue now owns 16,583 shares of the basic materials company’s stock valued at $2,074,000 after purchasing an additional 435 shares during the period. Institutional investors own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on STLD shares. Morgan Stanley increased their price target on Steel Dynamics from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, June 20th. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $138.00 to $150.00 and gave the company a “neutral” rating in a research report on Monday, July 14th. Finally, Wells Fargo & Company increased their price target on Steel Dynamics from $143.00 to $150.00 and gave the company an “overweight” rating in a research report on Monday. Nine investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $149.40.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $139.67 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.13. The firm has a market cap of $20.56 billion, a price-to-earnings ratio of 20.36, a P/E/G ratio of 1.07 and a beta of 1.40. The business’s 50-day simple moving average is $129.62 and its 200-day simple moving average is $128.05. 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 Monday, July 21st. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.04). The business had revenue of $4.57 billion during the quarter, compared to analyst estimates of $4.82 billion. Steel Dynamics had a net margin of 6.07% and a return on equity of 11.88%. The business’s quarterly revenue was down 1.5% compared to the same quarter last year. During the same period last year, the business earned $2.72 EPS. As a group, equities research analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th will be given a $0.50 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $2.00 annualized dividend and a yield of 1.4%. Steel Dynamics’s payout ratio is presently 29.15%.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Christopher A. Graham sold 12,000 shares of Steel Dynamics stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total value of $1,520,520.00. Following the completion of the transaction, the senior vice president owned 66,738 shares in the company, valued at approximately $8,456,371.98. The trade was a 15.24% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 6.30% of the company’s stock.

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.