Accurate Wealth Management LLC Boosts Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Accurate Wealth Management LLC lifted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 32.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,553 shares of the basic materials company’s stock after purchasing an additional 1,832 shares during the period. Accurate Wealth Management LLC’s holdings in Steel Dynamics were worth $879,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Steel Dynamics in the 3rd quarter worth $25,000. ORG Wealth Partners LLC bought a new position in Steel Dynamics in the 4th quarter worth $28,000. Private Trust Co. NA boosted its holdings in Steel Dynamics by 532.6% in the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after buying an additional 245 shares during the period. Brooklyn Investment Group bought a new position in Steel Dynamics in the 3rd quarter worth $61,000. Finally, Quest Partners LLC bought a new position in Steel Dynamics in the 3rd quarter worth $62,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Steel Dynamics Price Performance

Shares of STLD opened at $125.18 on Thursday. The company has a market cap of $19.06 billion, a price-to-earnings ratio of 11.33 and a beta of 1.36. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The company has a 50 day moving average of $130.63 and a two-hundred day moving average of $126.50.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share for the quarter, beating the consensus estimate of $1.98 by $0.07. The company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a net margin of 9.80% and a return on equity of 19.82%. Steel Dynamics’s revenue was down 5.4% compared to the same quarter last year. During the same period last year, the firm earned $3.47 earnings per share. As a group, analysts predict that Steel Dynamics, Inc. will post 10.09 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.47%. Steel Dynamics’s payout ratio is currently 16.65%.

Insider Transactions at Steel Dynamics

In other news, VP Chad Bickford sold 2,000 shares of Steel Dynamics stock in a transaction on Monday, October 28th. The shares were sold at an average price of $134.86, for a total transaction of $269,720.00. Following the completion of the sale, the vice president now directly owns 17,100 shares in the company, valued at approximately $2,306,106. The trade was a 10.47 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction on Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the sale, the senior vice president now owns 146,693 shares of the company’s stock, valued at $19,523,371.37. The trade was a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 28,591 shares of company stock worth $3,885,938. Company insiders own 6.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on STLD. Jefferies Financial Group dropped their target price on shares of Steel Dynamics from $145.00 to $125.00 and set a “hold” rating for the company in a report on Monday, January 6th. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 target price for the company. Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $140.00 to $155.00 in a report on Tuesday, October 1st. BMO Capital Markets increased their price objective on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a report on Friday, October 18th. Finally, Morgan Stanley dropped their price objective on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $141.13.

Steel Dynamics Company 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.