Arkadios Wealth Advisors Makes New $283,000 Investment in Steel Dynamics, Inc. $STLD

Arkadios Wealth Advisors acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 2,207 shares of the basic materials company’s stock, valued at approximately $283,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Harbour Capital Advisors LLC raised its holdings in shares of Steel Dynamics by 0.5% during the second quarter. Harbour Capital Advisors LLC now owns 14,828 shares of the basic materials company’s stock worth $1,988,000 after acquiring an additional 80 shares during the period. Hemington Wealth Management raised its holdings in shares of Steel Dynamics by 35.9% during the first quarter. Hemington Wealth Management now owns 318 shares of the basic materials company’s stock worth $39,000 after acquiring an additional 84 shares during the period. Blair William & Co. IL raised its holdings in shares of Steel Dynamics by 5.8% during the second quarter. Blair William & Co. IL now owns 1,813 shares of the basic materials company’s stock worth $232,000 after acquiring an additional 100 shares during the period. Forum Financial Management LP raised its holdings in shares of Steel Dynamics by 2.5% during the second quarter. Forum Financial Management LP now owns 4,524 shares of the basic materials company’s stock worth $579,000 after acquiring an additional 109 shares during the period. Finally, Avantax Advisory Services Inc. raised its holdings in shares of Steel Dynamics by 1.8% during the first quarter. Avantax Advisory Services Inc. now owns 6,467 shares of the basic materials company’s stock worth $809,000 after acquiring an additional 113 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on STLD shares. Jefferies Financial Group lifted their price target on shares of Steel Dynamics from $165.00 to $180.00 and gave the company a “buy” rating in a research note on Wednesday, October 22nd. Morgan Stanley lifted their price target on shares of Steel Dynamics from $145.00 to $173.00 and gave the company an “overweight” rating in a research note on Friday, October 24th. JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $150.00 to $160.00 and gave the company a “neutral” rating in a research note on Monday, October 13th. UBS Group set a $165.00 price objective on shares of Steel Dynamics in a research report on Tuesday. Finally, KeyCorp lifted their price objective on shares of Steel Dynamics from $152.00 to $165.00 and gave the company an “overweight” rating in a research report on Monday, October 27th. Seven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, Steel Dynamics currently has an average rating of “Moderate Buy” and a consensus target price of $170.11.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $154.13 on Thursday. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $164.73. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.11 and a quick ratio of 1.34. The firm has a market cap of $22.51 billion, a price-to-earnings ratio of 20.41, a PEG ratio of 1.39 and a beta of 1.45. The company has a fifty day moving average price of $142.38 and a 200-day moving average price of $134.17.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, October 21st. 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 12.89%. 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 EPS. The business’s revenue was up 11.2% compared to the same quarter last year. As a group, equities research analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Announces Dividend

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

Insiders Place Their Bets

In related news, SVP Miguel Alvarez sold 8,251 shares of the stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the completion of the transaction, the senior vice president owned 117,068 shares in the company, valued at approximately $19,057,499.72. This represents a 6.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.30% of the company’s stock.

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.