Meeder Advisory Services Inc. Purchases 486 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Meeder Advisory Services Inc. raised its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 28.0% during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,222 shares of the basic materials company’s stock after acquiring an additional 486 shares during the period. Meeder Advisory Services Inc.’s holdings in Steel Dynamics were worth $288,000 as of its most recent filing with the SEC.

A number of other large investors have also recently bought and sold shares of STLD. Larson Financial Group LLC acquired a new position in Steel Dynamics during the first quarter worth $25,000. LifeSteps Financial Inc. bought a new stake in Steel Dynamics during the 1st quarter worth about $26,000. Security National Bank acquired a new position in shares of Steel Dynamics during the 4th quarter worth about $30,000. Innealta Capital LLC bought a new position in shares of Steel Dynamics in the 2nd quarter valued at about $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Steel Dynamics in the second quarter valued at about $41,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Trading Up 2.1 %

Shares of STLD stock opened at $112.84 on Monday. Steel Dynamics, Inc. has a 12-month low of $95.53 and a 12-month high of $151.34. The company has a market capitalization of $17.73 billion, a PE ratio of 7.75 and a beta of 1.32. The firm has a 50 day moving average price of $121.20 and a two-hundred day moving average price of $129.54. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.05. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The business had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.43 billion. During the same period last year, the firm posted $4.81 EPS. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. As a group, analysts predict that Steel Dynamics, Inc. will post 10.81 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date is Monday, September 30th. Steel Dynamics’s dividend payout ratio is 12.64%.

Wall Street Analyst Weigh In

Several research analysts recently commented on the company. Bank of America reduced their price target on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a research report on Wednesday, June 26th. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and raised their target price for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. BMO Capital Markets dropped their price target on shares of 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. Morgan Stanley lifted their price objective on shares of Steel Dynamics from $134.00 to $138.00 and gave the company an “equal weight” rating in a research report on Thursday, August 15th. Finally, Jefferies Financial Group assumed coverage on shares of Steel Dynamics in a report on Monday, May 20th. They issued a “hold” rating and a $150.00 target price on the stock. Six equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $143.43.

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.