EverSource Wealth Advisors LLC Has $126,000 Position in Steel Dynamics, Inc. (NASDAQ:STLD)

EverSource Wealth Advisors LLC raised its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 9.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,068 shares of the basic materials company’s stock after purchasing an additional 88 shares during the quarter. EverSource Wealth Advisors LLC’s holdings in Steel Dynamics were worth $126,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. CVA Family Office LLC bought a new position in Steel Dynamics in the 4th quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Steel Dynamics during the fourth quarter valued at $29,000. Lindbrook Capital LLC grew its stake in shares of Steel Dynamics by 117.5% in the fourth quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 134 shares during the last quarter. Exchange Traded Concepts LLC acquired a new stake in Steel Dynamics in the fourth quarter valued at $44,000. Finally, Denali Advisors LLC increased its holdings in Steel Dynamics by 99.0% in the fourth quarter. Denali Advisors LLC now owns 406 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 202 shares during the period. 82.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on STLD. BMO Capital Markets upped their price target on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research report on Monday, March 18th. Citigroup lifted their price objective on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research report on Tuesday, April 16th. Finally, Jefferies Financial Group initiated coverage on shares of Steel Dynamics in a research report on Monday, May 20th. They issued a “hold” rating and a $150.00 price target on the stock. 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’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $125.29.

Steel Dynamics Trading Down 0.2 %

NASDAQ STLD opened at $133.34 on Friday. Steel Dynamics, Inc. has a one year low of $90.55 and a one year high of $151.34. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55. The business has a 50 day simple moving average of $138.76 and a 200 day simple moving average of $126.30. The stock has a market capitalization of $20.95 billion, a P/E ratio of 9.16 and a beta of 1.47.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, topping the consensus estimate of $3.54 by $0.13. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The company had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter last year, the firm posted $4.01 EPS. The company’s quarterly revenue was down 4.1% on a year-over-year basis. Research analysts expect that Steel Dynamics, Inc. will post 12.44 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 12th. Stockholders of record on Sunday, June 30th will be issued a dividend of $0.46 per share. The ex-dividend date is Friday, June 28th. This represents a $1.84 annualized dividend and a dividend yield of 1.38%. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Insider Transactions at Steel Dynamics

In related news, SVP Christopher A. Graham sold 21,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $136.81, for a total value of $2,873,010.00. Following the completion of the sale, the senior vice president now directly owns 60,415 shares of the company’s stock, valued at approximately $8,265,376.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 6.00% of the company’s stock.

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.