EP Wealth Advisors LLC Cuts Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

EP Wealth Advisors LLC reduced its position in shares of Steel Dynamics, Inc. (NASDAQ:STLDFree Report) by 6.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 25,180 shares of the basic materials company’s stock after selling 1,849 shares during the period. EP Wealth Advisors LLC’s holdings in Steel Dynamics were worth $2,974,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in Steel Dynamics by 9.0% during the fourth quarter. EverSource Wealth Advisors LLC now owns 1,068 shares of the basic materials company’s stock worth $126,000 after purchasing an additional 88 shares in the last quarter. Signaturefd LLC raised its holdings in Steel Dynamics by 0.9% during the fourth quarter. Signaturefd LLC now owns 10,698 shares of the basic materials company’s stock worth $1,263,000 after purchasing an additional 93 shares in the last quarter. Global Retirement Partners LLC raised its holdings in Steel Dynamics by 25.8% during the fourth quarter. Global Retirement Partners LLC now owns 478 shares of the basic materials company’s stock worth $53,000 after purchasing an additional 98 shares in the last quarter. Allworth Financial LP raised its holdings in Steel Dynamics by 2.2% during the fourth quarter. Allworth Financial LP now owns 4,853 shares of the basic materials company’s stock worth $573,000 after purchasing an additional 103 shares in the last quarter. Finally, Greenfield Savings Bank raised its holdings in Steel Dynamics by 0.9% during the fourth quarter. Greenfield Savings Bank now owns 11,591 shares of the basic materials company’s stock worth $1,369,000 after purchasing an additional 108 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Christopher A. Graham sold 21,000 shares of the firm’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $136.81, for a total value of $2,873,010.00. Following the transaction, the senior vice president now owns 60,415 shares of the company’s stock, valued at approximately $8,265,376.15. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 6.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on STLD. Citigroup upped their target price on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. JPMorgan Chase & Co. upped their target price on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. Jefferies Financial Group began coverage on shares of Steel Dynamics in a research report on Monday, May 20th. They set a “hold” rating and a $150.00 target price on the stock. Finally, BMO Capital Markets upped their target price on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, Steel Dynamics currently has a consensus rating of “Hold” and an average target price of $125.29.

Read Our Latest Stock Analysis on Steel Dynamics

Steel Dynamics Trading Down 0.6 %

NASDAQ STLD traded down $0.73 during mid-day trading on Friday, reaching $120.69. 1,211,205 shares of the stock were exchanged, compared to its average volume of 1,079,509. Steel Dynamics, Inc. has a 1-year low of $95.53 and a 1-year high of $151.34. The business’s fifty day simple moving average is $133.42 and its 200 day simple moving average is $128.03. The stock has a market capitalization of $18.96 billion, a PE ratio of 8.29 and a beta of 1.40. 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:STLDGet Free Report) last posted its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. Steel Dynamics’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $4.01 earnings per share. On average, research analysts anticipate that Steel Dynamics, Inc. will post 12.2 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently declared 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. This represents a $1.84 dividend on an annualized basis and a yield of 1.52%. The ex-dividend date is Friday, June 28th. Steel Dynamics’s dividend payout ratio is currently 12.64%.

About Steel Dynamics

(Free Report)

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.

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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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