Northwest Investment Counselors LLC Takes Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Northwest Investment Counselors LLC bought a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 560 shares of the basic materials company’s stock, valued at approximately $83,000.

Other large investors have also recently made changes to their positions in the company. CVA Family Office LLC purchased a new position in shares of Steel Dynamics during the fourth quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Steel Dynamics during the fourth quarter valued at approximately $29,000. Lindbrook Capital LLC increased its position in shares of Steel Dynamics by 117.5% during the fourth quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 134 shares in the last quarter. Security National Bank bought a new stake in shares of Steel Dynamics during the fourth quarter valued at approximately $30,000. Finally, Exchange Traded Concepts LLC bought a new stake in shares of Steel Dynamics during the fourth quarter valued at approximately $44,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on STLD. Citigroup raised their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. BMO Capital Markets reduced their price target on shares of Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating for the company in a research report on Tuesday, June 18th. JPMorgan Chase & Co. raised their price target on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Finally, Jefferies Financial Group began coverage on shares of Steel Dynamics in a research note on Monday, May 20th. They set a “hold” rating and a $150.00 target price for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $127.43.

Steel Dynamics Trading Down 1.4 %

NASDAQ:STLD opened at $126.34 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55. The firm has a market capitalization of $19.85 billion, a price-to-earnings ratio of 8.68 and a beta of 1.40. Steel Dynamics, Inc. has a one year low of $95.53 and a one year high of $151.34. The business has a fifty day moving average price of $131.25 and a 200-day moving average price of $128.51.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.54 by $0.13. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. Steel Dynamics’s revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $4.01 EPS. Sell-side analysts forecast that Steel Dynamics, Inc. will post 11.74 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Sunday, June 30th will be paid a $0.46 dividend. The ex-dividend date is Friday, June 28th. This represents a $1.84 annualized dividend and a dividend yield of 1.46%. Steel Dynamics’s dividend payout ratio (DPR) is 12.64%.

Insider Transactions at Steel Dynamics

In related news, SVP Christopher A. Graham sold 21,000 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $136.81, for a total value of $2,873,010.00. Following the completion of the transaction, the senior vice president now owns 60,415 shares of the company’s stock, valued at approximately $8,265,376.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 6.10% of the stock is currently owned by company insiders.

About Steel Dynamics

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.