Ashton Thomas Private Wealth LLC Purchases 243 Shares of Steel Dynamics, Inc. $STLD

Ashton Thomas Private Wealth LLC raised its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 3.5% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,246 shares of the basic materials company’s stock after purchasing an additional 243 shares during the period. Ashton Thomas Private Wealth LLC’s holdings in Steel Dynamics were worth $931,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of STLD. GAMMA Investing LLC increased its stake in Steel Dynamics by 47.9% in the first quarter. GAMMA Investing LLC now owns 3,579 shares of the basic materials company’s stock valued at $448,000 after purchasing an additional 1,159 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Steel Dynamics by 1.6% in the first quarter. Sequoia Financial Advisors LLC now owns 5,803 shares of the basic materials company’s stock valued at $726,000 after purchasing an additional 91 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in Steel Dynamics by 13.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 18,570 shares of the basic materials company’s stock valued at $2,302,000 after purchasing an additional 2,164 shares in the last quarter. Amalgamated Bank increased its position in shares of Steel Dynamics by 0.8% during the first quarter. Amalgamated Bank now owns 27,627 shares of the basic materials company’s stock worth $3,456,000 after acquiring an additional 224 shares in the last quarter. Finally, Valley National Advisers Inc. increased its position in shares of Steel Dynamics by 48.1% during the first quarter. Valley National Advisers Inc. now owns 622 shares of the basic materials company’s stock worth $77,000 after acquiring an additional 202 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Citigroup increased their price objective on shares of Steel Dynamics from $150.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Steel Dynamics in a research report on Wednesday, October 8th. BMO Capital Markets increased their price objective on shares of Steel Dynamics from $155.00 to $167.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 22nd. JPMorgan Chase & Co. increased their price objective on shares of Steel Dynamics from $150.00 to $160.00 and gave the stock a “neutral” rating in a research report on Monday, October 13th. Finally, Jefferies Financial Group increased their price objective on shares of Steel Dynamics from $165.00 to $180.00 and gave the stock a “buy” rating in a research report on Wednesday, October 22nd. Eight research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, Steel Dynamics currently has a consensus rating of “Moderate Buy” and a consensus target price of $167.44.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $163.47 on Thursday. The stock has a market cap of $23.87 billion, a P/E ratio of 21.65, a P/E/G ratio of 1.37 and a beta of 1.40. The company has a debt-to-equity ratio of 0.43, a current ratio of 3.11 and a quick ratio of 1.34. The company has a fifty day moving average price of $139.97 and a two-hundred day moving average price of $132.87. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $164.73.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Monday, October 20th. The basic materials company reported $2.74 EPS for the quarter, beating analysts’ consensus estimates of $2.63 by $0.11. The firm had revenue of $4.83 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The company’s revenue for the quarter was up 11.2% compared to the same quarter last year. During the same quarter last year, the company posted $2.05 earnings per share. As a group, equities analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 10th. Shareholders of record on Tuesday, September 30th were paid a $0.50 dividend. The ex-dividend date was Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. Steel Dynamics’s dividend payout ratio (DPR) is currently 26.49%.

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.