Financial Partners Group LLC Acquires 178 Shares of Steel Dynamics, Inc. $STLD

Financial Partners Group LLC raised its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 1.6% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,129 shares of the basic materials company’s stock after buying an additional 178 shares during the period. Financial Partners Group LLC’s holdings in Steel Dynamics were worth $1,425,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. bought a new stake in Steel Dynamics in the first quarter valued at approximately $25,000. Cary Street Partners Investment Advisory LLC increased its stake in shares of Steel Dynamics by 493.9% during the first quarter. Cary Street Partners Investment Advisory LLC now owns 196 shares of the basic materials company’s stock worth $25,000 after purchasing an additional 163 shares during the period. Zions Bancorporation National Association UT bought a new position in shares of Steel Dynamics during the first quarter worth approximately $32,000. WPG Advisers LLC bought a new position in shares of Steel Dynamics during the first quarter worth approximately $32,000. Finally, Grove Bank & Trust increased its stake in shares of Steel Dynamics by 194.7% during the first quarter. Grove Bank & Trust now owns 277 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 183 shares during the period. Institutional investors own 82.41% of the company’s stock.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Christopher A. Graham sold 12,000 shares of the business’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the sale, the senior vice president directly owned 66,738 shares in the company, valued at approximately $8,456,371.98. The trade was a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

STLD has been the topic of a number of recent research reports. Morgan Stanley increased their target price on Steel Dynamics from $140.00 to $145.00 and gave the stock an “overweight” rating in a research note on Friday, June 20th. Wells Fargo & Company increased their target price on Steel Dynamics from $143.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, September 15th. Finally, JPMorgan Chase & Co. increased their target price on Steel Dynamics from $138.00 to $150.00 and gave the stock a “neutral” rating in a research note on Monday, July 14th. Nine equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $149.40.

Steel Dynamics Price Performance

Steel Dynamics stock opened at $139.63 on Friday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 1.34 and a current ratio of 3.13. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $155.56. The stock has a market capitalization of $20.55 billion, a P/E ratio of 20.35, a price-to-earnings-growth ratio of 1.14 and a beta of 1.40. The stock has a fifty day moving average of $130.48 and a 200-day moving average of $128.78.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Monday, July 21st. The basic materials company reported $2.01 EPS for the quarter, missing analysts’ consensus estimates of $2.05 by ($0.04). The business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.82 billion. Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%.Steel Dynamics’s quarterly revenue was down 1.5% on a year-over-year basis. During the same period last year, the firm posted $2.72 EPS. On average, sell-side analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 10th. Stockholders of record on Tuesday, September 30th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Tuesday, September 30th. Steel Dynamics’s payout ratio is 29.15%.

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.