AE Wealth Management LLC Has $452,000 Stock Holdings in Steel Dynamics, Inc. $STLD

AE Wealth Management LLC boosted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 54.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,532 shares of the basic materials company’s stock after buying an additional 1,246 shares during the quarter. AE Wealth Management LLC’s holdings in Steel Dynamics were worth $452,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of 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 in the last quarter. Hemington Wealth Management raised its stake in shares of Steel Dynamics by 35.9% during the 1st quarter. Hemington Wealth Management now owns 318 shares of the basic materials company’s stock worth $39,000 after purchasing an additional 84 shares in the last quarter. Blair William & Co. IL lifted its holdings in shares of Steel Dynamics by 5.8% during the 2nd quarter. Blair William & Co. IL now owns 1,813 shares of the basic materials company’s stock valued at $232,000 after buying an additional 100 shares during the last quarter. Lifeworks Advisors LLC lifted its holdings in shares of Steel Dynamics by 6.6% during the 2nd quarter. Lifeworks Advisors LLC now owns 1,719 shares of the basic materials company’s stock valued at $220,000 after buying an additional 106 shares during the last quarter. Finally, Forum Financial Management LP grew its stake in shares of Steel Dynamics by 2.5% in the 2nd quarter. Forum Financial Management LP now owns 4,524 shares of the basic materials company’s stock valued at $579,000 after buying an additional 109 shares in the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $162.79, for a total value of $1,343,180.29. Following the sale, the senior vice president owned 117,068 shares of the company’s stock, valued at $19,057,499.72. This trade represents a 6.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 6.30% of the stock is currently owned by insiders.

Steel Dynamics Price Performance

NASDAQ STLD opened at $155.41 on Friday. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $164.73. The company has a fifty day simple moving average of $145.58 and a 200 day simple moving average of $135.61. The company has a current ratio of 3.11, a quick ratio of 1.34 and a debt-to-equity ratio of 0.43. The company has a market cap of $22.70 billion, a P/E ratio of 20.58, a P/E/G ratio of 1.39 and a beta of 1.45.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share for the quarter, topping analysts’ consensus estimates 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 previous year, the business earned $2.05 EPS. The business’s revenue was up 11.2% on a year-over-year basis. On average, sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 31st will be paid a dividend of $0.50 per share. The ex-dividend date is Wednesday, December 31st. This represents a $2.00 annualized dividend and a yield of 1.3%. Steel Dynamics’s dividend payout ratio is presently 26.49%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. UBS Group set a $165.00 price objective on shares of Steel Dynamics in a research report on Tuesday, November 4th. KeyCorp increased their price target on shares of Steel Dynamics from $152.00 to $165.00 and gave the stock an “overweight” rating in a research note on Monday, October 27th. The Goldman Sachs Group set a $172.00 price target on shares of Steel Dynamics and gave the company a “neutral” rating in a report on Friday, October 31st. Morgan Stanley upped their price objective on shares of Steel Dynamics from $145.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Finally, Citigroup increased their target price on shares of Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. 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.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $170.44.

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.