TradeWell Securities LLC. Has $801,000 Holdings in Steel Dynamics, Inc. $STLD

TradeWell Securities LLC. lifted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 157.8% in the second quarter, HoldingsChannel.com reports. The firm owned 6,254 shares of the basic materials company’s stock after acquiring an additional 3,828 shares during the period. Steel Dynamics comprises 0.4% of TradeWell Securities LLC.’s investment portfolio, making the stock its 26th largest holding. TradeWell Securities LLC.’s holdings in Steel Dynamics were worth $801,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Trust Co. of Toledo NA OH bought a new stake in Steel Dynamics in the 2nd quarter valued at $30,000. WPG Advisers LLC acquired a new stake in shares of Steel Dynamics during the 1st quarter valued at about $32,000. Rosenberg Matthew Hamilton boosted its position in shares of Steel Dynamics by 306.2% during the 2nd quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 199 shares in the last quarter. True Wealth Design LLC increased its stake in Steel Dynamics by 120.4% in the second quarter. True Wealth Design LLC now owns 324 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 177 shares during the period. Finally, Colonial Trust Advisors acquired a new position in Steel Dynamics in the first quarter worth about $45,000. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Price Performance

Shares of STLD stock opened at $171.97 on Monday. The firm has a market cap of $25.11 billion, a price-to-earnings ratio of 22.78, a PEG ratio of 1.25 and a beta of 1.46. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $174.31. The company has a quick ratio of 1.47, a current ratio of 3.11 and a debt-to-equity ratio of 0.43. The stock has a 50-day moving average price of $156.48 and a 200 day moving average price of $140.32.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, October 21st. The basic materials company reported $2.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.63 by $0.11. Steel Dynamics had a net margin of 6.39% and a return on equity of 12.89%. The company had revenue of $4.83 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the prior year, the company posted $2.05 EPS. The company’s revenue was up 11.2% compared to the same quarter last year. Research analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 31st will be paid a $0.50 dividend. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $2.00 dividend on an annualized basis and a yield of 1.2%. Steel Dynamics’s dividend payout ratio (DPR) is presently 26.49%.

Insider Buying and Selling

In other Steel Dynamics news, SVP Miguel Alvarez sold 8,251 shares of the company’s stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $162.79, for a total transaction of $1,343,180.29. Following the completion of the sale, the senior vice president owned 117,068 shares in the company, valued at approximately $19,057,499.72. The trade was a 6.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

STLD has been the topic of a number of recent research reports. KeyCorp lifted their price objective on Steel Dynamics from $152.00 to $165.00 and gave the company an “overweight” rating in a report on Monday, October 27th. Wells Fargo & Company raised their target price on Steel Dynamics from $169.00 to $172.00 and gave the stock an “overweight” rating in a research report on Friday, November 14th. JPMorgan Chase & Co. upped their price target on Steel Dynamics from $165.00 to $190.00 and gave the company a “neutral” rating in a research report on Friday, December 5th. Citigroup lifted their price target on shares of Steel Dynamics from $150.00 to $180.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Finally, Morgan Stanley raised their price objective on shares of Steel Dynamics from $145.00 to $173.00 and gave the stock an “overweight” rating in a report on Friday, October 24th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Steel Dynamics currently has a consensus rating of “Moderate Buy” and an average price target of $174.89.

About Steel Dynamics

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.