Cetera Investment Advisers Purchases 843 Shares of Steel Dynamics, Inc. $STLD

Cetera Investment Advisers raised its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 4.0% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 21,800 shares of the basic materials company’s stock after purchasing an additional 843 shares during the period. Cetera Investment Advisers’ holdings in Steel Dynamics were worth $2,791,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of STLD. Cary Street Partners Investment Advisory LLC grew its holdings in shares of Steel Dynamics by 493.9% in the 1st 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. Trust Co. of Toledo NA OH bought a new position in Steel Dynamics during the second quarter worth about $30,000. Zions Bancorporation National Association UT acquired a new position in Steel Dynamics in the first quarter valued at about $32,000. WPG Advisers LLC bought a new stake in shares of Steel Dynamics in the first quarter worth about $32,000. Finally, Rosenberg Matthew Hamilton raised its position in shares of Steel Dynamics by 306.2% during the second quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 199 shares during the period. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Trading Up 1.4%

Steel Dynamics stock opened at $166.62 on Friday. The company has a market cap of $24.33 billion, a price-to-earnings ratio of 22.07, a P/E/G ratio of 1.39 and a beta of 1.45. The firm has a 50-day moving average of $150.08 and a 200-day moving average of $137.39. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.11 and a quick ratio of 1.34. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $167.07.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.11. Steel Dynamics had a return on equity of 12.89% and a net margin of 6.39%.The business had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the previous year, the business earned $2.05 earnings per share. Steel Dynamics’s quarterly revenue was up 11.2% on a year-over-year basis. On average, equities analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.2%. Steel Dynamics’s dividend payout ratio is currently 26.49%.

Insider Activity at Steel Dynamics

In other news, SVP Miguel Alvarez sold 8,251 shares of the 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 completion of the sale, the senior vice president owned 117,068 shares of the company’s stock, valued at approximately $19,057,499.72. This represents a 6.58% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. The Goldman Sachs Group set a $172.00 price objective on Steel Dynamics and gave the company a “neutral” rating in a research report on Friday, October 31st. Wells Fargo & Company lifted their price target on shares of Steel Dynamics from $169.00 to $172.00 and gave the company an “overweight” rating in a research note on Friday, November 14th. UBS Group set a $165.00 price objective on shares of Steel Dynamics in a research report on Tuesday, November 4th. Morgan Stanley raised 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 upped their target price on shares of Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Seven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $170.44.

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.