11,570 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Bought by Edgestream Partners L.P.

Edgestream Partners L.P. bought a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 11,570 shares of the basic materials company’s stock, valued at approximately $1,498,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Larson Financial Group LLC acquired a new stake in Steel Dynamics in the first quarter valued at $25,000. LifeSteps Financial Inc. purchased a new position in shares of Steel Dynamics in the first quarter valued at $26,000. Security National Bank purchased a new position in shares of Steel Dynamics in the fourth quarter valued at $30,000. Innealta Capital LLC purchased a new position in shares of Steel Dynamics in the second quarter valued at $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. purchased a new position in shares of Steel Dynamics in the second quarter valued at $41,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $119.83 on Friday. The firm has a market capitalization of $18.83 billion, a P/E ratio of 8.23 and a beta of 1.32. Steel Dynamics, Inc. has a 1-year low of $98.25 and a 1-year high of $151.34. The company has a debt-to-equity ratio of 0.25, a current ratio of 2.35 and a quick ratio of 1.19. The business’s 50-day simple moving average is $120.30 and its 200-day simple moving average is $129.08.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 EPS for the quarter, topping the consensus estimate of $2.67 by $0.05. The firm had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. Steel Dynamics’s revenue for the quarter was down 8.8% on a year-over-year basis. During the same period in the previous year, the company posted $4.81 EPS. Equities analysts predict that Steel Dynamics, Inc. will post 10.57 EPS for the current year.

Steel Dynamics Dividend Announcement

The business 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 annualized dividend and a yield of 1.54%. The ex-dividend date is Monday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.64%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Bank of America dropped 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. BMO Capital Markets dropped their price target on Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating for the company in a research report on Tuesday. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Morgan Stanley dropped their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday. Finally, JPMorgan Chase & Co. upgraded Steel Dynamics from an “underweight” rating to a “neutral” rating and lifted their price objective for the stock from $120.00 to $131.00 in a research report on Monday, September 9th. Six analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $141.29.

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.