Stratos Wealth Partners LTD. Sells 412 Shares of Steel Dynamics, Inc. $STLD

Stratos Wealth Partners LTD. cut its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 18.1% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,863 shares of the basic materials company’s stock after selling 412 shares during the period. Stratos Wealth Partners LTD.’s holdings in Steel Dynamics were worth $239,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Nordea Investment Management AB boosted its holdings in Steel Dynamics by 43.3% in the second quarter. Nordea Investment Management AB now owns 2,088,372 shares of the basic materials company’s stock worth $271,238,000 after purchasing an additional 630,935 shares in the last quarter. Golden State Wealth Management LLC boosted its holdings 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 acquiring an additional 525 shares during the period. OFI Invest Asset Management bought a new stake in Steel Dynamics during the second quarter valued at about $4,221,000. Geneos Wealth Management Inc. boosted its holdings in Steel Dynamics by 72.4% during the first quarter. Geneos Wealth Management Inc. now owns 1,143 shares of the basic materials company’s stock valued at $143,000 after acquiring an additional 480 shares during the period. Finally, Alpine Woods Capital Investors LLC boosted its holdings in Steel Dynamics by 10.4% during the second quarter. Alpine Woods Capital Investors LLC now owns 47,773 shares of the basic materials company’s stock valued at $6,115,000 after acquiring an additional 4,489 shares during the period. 82.41% of the stock is currently owned by institutional investors.

Insider Transactions at Steel Dynamics

In other news, SVP Christopher A. Graham sold 12,000 shares of the firm’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the completion of the sale, the senior vice president owned 66,738 shares of the company’s stock, valued at approximately $8,456,371.98. This trade represents a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 6.30% of the stock is owned by company insiders.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $152.95 on Friday. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $156.24. The company has a quick ratio of 1.34, a current ratio of 3.13 and a debt-to-equity ratio of 0.43. The firm has a market capitalization of $22.52 billion, a PE ratio of 20.26, a price-to-earnings-growth ratio of 1.27 and a beta of 1.40. The firm has a 50-day moving average price of $137.91 and a 200 day moving average price of $131.95.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Monday, October 20th. The basic materials company reported $2.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.63 by $0.11. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.93%. The firm had revenue of $4.83 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter in the prior year, the business posted $2.05 earnings per share. The company’s quarterly revenue was up 11.2% compared to the same quarter last year. Research analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend was Tuesday, September 30th. Steel Dynamics’s dividend payout ratio is 26.49%.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Morgan Stanley upped their price target on shares of Steel Dynamics from $145.00 to $173.00 and gave the company an “overweight” rating in a report on Friday. BMO Capital Markets upped their price target on shares of Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a report on Wednesday. Weiss Ratings restated a “hold (c)” rating on shares of Steel Dynamics in a report on Saturday. Wells Fargo & Company upped their price target on shares of Steel Dynamics from $150.00 to $169.00 and gave the company an “overweight” rating in a report on Wednesday. Finally, Jefferies Financial Group upped their price target on shares of Steel Dynamics from $165.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday. Eight equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Steel Dynamics presently has a consensus rating of “Moderate Buy” and a consensus price target of $162.44.

Steel Dynamics Company 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.