Wedmont Private Capital Has $298,000 Position in Steel Dynamics, Inc. $STLD

Wedmont Private Capital boosted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 22.3% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,189 shares of the basic materials company’s stock after purchasing an additional 399 shares during the period. Wedmont Private Capital’s holdings in Steel Dynamics were worth $298,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of STLD. Financial Gravity Asset Management Inc. acquired a new position in Steel Dynamics in the 1st quarter worth about $25,000. Cary Street Partners Investment Advisory LLC increased its stake in shares of Steel Dynamics by 493.9% in the first quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock valued at $25,000 after buying an additional 163 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of Steel Dynamics in the first quarter valued at about $32,000. WPG Advisers LLC acquired a new stake in shares of Steel Dynamics in the first quarter valued at about $32,000. Finally, Grove Bank & Trust increased its stake in shares of Steel Dynamics by 194.7% in the first quarter. Grove Bank & Trust now owns 277 shares of the basic materials company’s stock valued at $35,000 after buying an additional 183 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insider Buying and Selling

In related news, SVP Christopher A. Graham sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the completion of the transaction, the senior vice president directly owned 66,738 shares in the company, valued at $8,456,371.98. The trade was a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.30% of the stock is currently owned by insiders.

Steel Dynamics Stock Performance

Shares of STLD opened at $139.27 on Monday. The firm has a market cap of $20.50 billion, a PE ratio of 20.30, a PEG ratio of 1.13 and a beta of 1.40. The stock’s fifty day moving average price is $129.77 and its two-hundred day moving average price is $128.29. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.13 and a quick ratio of 1.34. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.05 by ($0.04). The firm had revenue of $4.57 billion during the quarter, compared to the consensus estimate 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 quarter in the previous year, the firm earned $2.72 earnings per share. On average, equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders 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 dividend yield of 1.4%. Steel Dynamics’s payout ratio is 29.15%.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on STLD shares. 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 note on Monday, July 14th. Wells Fargo & Company raised their target price on Steel Dynamics from $143.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, September 15th. Finally, Morgan Stanley raised their target price on Steel Dynamics from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. Nine equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, Steel Dynamics currently has a consensus rating of “Moderate Buy” and a consensus price target of $149.40.

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.