Quantum Financial Advisors LLC Sells 96 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Quantum Financial Advisors LLC decreased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 4.2% in the 1st quarter, HoldingsChannel.com reports. The fund owned 2,171 shares of the basic materials company’s stock after selling 96 shares during the quarter. Quantum Financial Advisors LLC’s holdings in Steel Dynamics were worth $272,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in STLD. Forum Financial Management LP grew its holdings in shares of Steel Dynamics by 2.5% in the 4th quarter. Forum Financial Management LP now owns 3,113 shares of the basic materials company’s stock valued at $355,000 after buying an additional 75 shares during the period. Resonant Capital Advisors LLC grew its holdings in shares of Steel Dynamics by 3.3% in the 4th quarter. Resonant Capital Advisors LLC now owns 3,200 shares of the basic materials company’s stock valued at $366,000 after buying an additional 101 shares during the period. OneAscent Financial Services LLC grew its holdings in shares of Steel Dynamics by 2.2% in the 4th quarter. OneAscent Financial Services LLC now owns 4,605 shares of the basic materials company’s stock valued at $527,000 after buying an additional 101 shares during the period. Parallel Advisors LLC grew its holdings in shares of Steel Dynamics by 6.3% in the 1st quarter. Parallel Advisors LLC now owns 1,734 shares of the basic materials company’s stock valued at $217,000 after buying an additional 102 shares during the period. Finally, Cidel Asset Management Inc. grew its holdings in shares of Steel Dynamics by 6.2% in the 4th quarter. Cidel Asset Management Inc. now owns 2,036 shares of the basic materials company’s stock valued at $232,000 after buying an additional 118 shares during the period. Institutional investors own 82.41% of the company’s stock.

Insider Transactions at Steel Dynamics

In other news, SVP Miguel Alvarez sold 7,495 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the completion of the transaction, the senior vice president now directly owns 125,319 shares in the company, valued at $16,950,647.94. This represents a 5.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 6.30% of the company’s stock.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $122.66 on Friday. The firm has a market cap of $18.21 billion, a PE ratio of 12.52, a PEG ratio of 1.05 and a beta of 1.44. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $155.56. The company has a fifty day moving average price of $125.29 and a 200 day moving average price of $127.29.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, topping analysts’ consensus estimates of $1.40 by $0.04. Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. The company had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.17 billion. During the same period in the prior year, the business posted $3.67 EPS. Research analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics declared that its board has approved a share buyback program on Monday, February 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the basic materials company to repurchase up to 7.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board of directors believes its stock is undervalued.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.63%. Steel Dynamics’s dividend payout ratio is 26.42%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on STLD shares. BMO Capital Markets raised shares of Steel Dynamics from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $135.00 to $145.00 in a report on Monday, March 31st. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 price target for the company in a report on Monday, March 24th. KeyCorp raised shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price target for the company in a report on Tuesday, February 11th. Morgan Stanley set a $140.00 target price on shares of Steel Dynamics and gave the stock an “overweight” rating in a research note on Thursday, April 24th. Finally, JPMorgan Chase & Co. upped their target price on shares of Steel Dynamics from $135.00 to $138.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Steel Dynamics currently has a consensus rating of “Moderate Buy” and a consensus price target of $147.44.

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.