Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC lessened its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 0.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 45,830 shares of the basic materials company’s stock after selling 368 shares during the quarter. Steel Dynamics accounts for approximately 2.1% of Pathway Financial Advisers LLC’s investment portfolio, making the stock its 4th biggest position. Pathway Financial Advisers LLC’s holdings in Steel Dynamics were worth $5,925,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of STLD. Larson Financial Group LLC acquired a new position in shares of Steel Dynamics during the first quarter worth $25,000. LifeSteps Financial Inc. acquired a new stake in shares of Steel Dynamics in the first quarter valued at about $26,000. Security National Bank bought a new position in shares of Steel Dynamics during the fourth quarter worth about $30,000. Innealta Capital LLC acquired a new position in shares of Steel Dynamics in the second quarter worth approximately $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new stake in Steel Dynamics in the second quarter valued at approximately $41,000. 82.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on STLD shares. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. BMO Capital Markets dropped their target price on shares of Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating on the stock in a report on Tuesday, September 17th. Morgan Stanley decreased their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. JPMorgan Chase & Co. raised Steel Dynamics from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $120.00 to $131.00 in a research note on Monday, September 9th. Finally, Bank of America decreased their target price on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating for the company in a research note on Wednesday, June 26th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, Steel Dynamics presently has a consensus rating of “Hold” and an average price target of $141.29.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $126.08 on Tuesday. The stock has a market cap of $19.81 billion, a price-to-earnings ratio of 8.66 and a beta of 1.32. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. Steel Dynamics, Inc. has a fifty-two week low of $98.25 and a fifty-two week high of $151.34. The firm’s 50-day simple moving average is $119.44 and its 200 day simple moving average is $128.69.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same quarter in the previous year, the firm earned $4.81 earnings per share. Steel Dynamics’s quarterly revenue was down 8.8% on a year-over-year basis. As a group, research analysts anticipate that Steel Dynamics, Inc. will post 10.32 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be given a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.46%. The ex-dividend date of this dividend is Monday, September 30th. Steel Dynamics’s payout ratio is 12.64%.

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.