Brookstone Capital Management Raises Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Brookstone Capital Management grew its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 4.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 2,740 shares of the basic materials company’s stock after acquiring an additional 109 shares during the quarter. Brookstone Capital Management’s holdings in Steel Dynamics were worth $406,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. CVA Family Office LLC purchased a new stake in Steel Dynamics during the 4th quarter valued at $28,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Steel Dynamics in the fourth quarter worth about $29,000. Lindbrook Capital LLC increased its holdings in Steel Dynamics by 117.5% during the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 134 shares during the period. Security National Bank purchased a new position in Steel Dynamics during the 4th quarter valued at about $30,000. Finally, Riverview Trust Co bought a new position in Steel Dynamics during the 1st quarter valued at approximately $50,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $129.15 on Tuesday. The company has a 50 day simple moving average of $130.11 and a two-hundred day simple moving average of $128.90. Steel Dynamics, Inc. has a fifty-two week low of $95.53 and a fifty-two week high of $151.34. The company has a market capitalization of $20.29 billion, a price-to-earnings ratio of 8.87 and a beta of 1.35. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.55 and a current ratio of 2.87.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $3.54 by $0.13. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same quarter last year, the company earned $4.01 EPS. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. Analysts expect that Steel Dynamics, Inc. will post 11.64 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Shareholders of record on Sunday, June 30th will be paid a dividend of $0.46 per share. The ex-dividend date is Friday, June 28th. This represents a $1.84 dividend on an annualized basis and a yield of 1.42%. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Insiders Place Their Bets

In other news, SVP Christopher A. Graham sold 21,000 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $136.81, for a total transaction of $2,873,010.00. Following the sale, the senior vice president now owns 60,415 shares in the company, valued at $8,265,376.15. The transaction was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 6.10% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on STLD shares. JPMorgan Chase & Co. boosted their target price on Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. Bank of America decreased their price objective on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a report on Wednesday, June 26th. Citigroup lifted their target price on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Jefferies Financial Group began coverage on shares of Steel Dynamics in a research note on Monday, May 20th. They issued a “hold” rating and a $150.00 price target for the company. Finally, BMO Capital Markets cut their price objective on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 18th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $129.63.

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.