Sequoia Financial Advisors LLC Purchases 153 Shares of Steel Dynamics, Inc. $STLD

Sequoia Financial Advisors LLC boosted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 2.6% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,956 shares of the basic materials company’s stock after purchasing an additional 153 shares during the period. Sequoia Financial Advisors LLC’s holdings in Steel Dynamics were worth $762,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in STLD. Price T Rowe Associates Inc. MD boosted its position in Steel Dynamics by 25.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 7,066,300 shares of the basic materials company’s stock valued at $883,854,000 after buying an additional 1,437,897 shares during the period. Victory Capital Management Inc. grew its stake in Steel Dynamics by 433.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,816,525 shares of the basic materials company’s stock worth $227,211,000 after acquiring an additional 1,475,767 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Steel Dynamics by 40.6% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,675,973 shares of the basic materials company’s stock worth $214,541,000 after acquiring an additional 484,304 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Steel Dynamics by 3.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,599,076 shares of the basic materials company’s stock worth $200,012,000 after acquiring an additional 52,218 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in Steel Dynamics by 2.2% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,405,666 shares of the basic materials company’s stock worth $175,821,000 after acquiring an additional 30,759 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, SVP Christopher A. Graham sold 12,000 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $126.71, for a total transaction of $1,520,520.00. Following the completion of the sale, the senior vice president owned 66,738 shares of the company’s stock, valued at $8,456,371.98. This represents a 15.24% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.30% of the stock is owned by insiders.

Steel Dynamics Price Performance

Shares of STLD opened at $142.75 on Friday. The company has a 50 day moving average price of $135.49 and a 200-day moving average price of $130.59. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $155.56. The stock has a market capitalization of $21.01 billion, a PE ratio of 20.81, a PEG ratio of 1.17 and a beta of 1.40. 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 (NASDAQ:STLD) last announced its quarterly earnings results on Monday, July 21st. The basic materials company reported $2.01 earnings per share for the quarter, missing the consensus estimate of $2.05 by ($0.04). Steel Dynamics had a return on equity of 11.88% and a net margin of 6.07%.The business had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the previous year, the company posted $2.72 EPS. Steel Dynamics’s revenue for the quarter was down 1.5% on a year-over-year basis. Equities analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 10th. Investors of record on Tuesday, September 30th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.4%. Steel Dynamics’s dividend payout ratio is presently 29.15%.

Wall Street Analyst Weigh In

A number of brokerages have commented on STLD. Weiss Ratings restated a “hold (c)” rating on shares of Steel Dynamics in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their target price on shares of Steel Dynamics from $150.00 to $160.00 and gave the stock a “neutral” rating in a research note on Monday, October 13th. Finally, Wells Fargo & Company upped their target price on shares of Steel Dynamics from $143.00 to $150.00 and gave the stock an “overweight” rating in a research note on Monday, September 15th. Eight analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $149.89.

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.