Steel Dynamics, Inc. (NASDAQ:STLD) Shares Acquired by Larson Financial Group LLC

Larson Financial Group LLC boosted its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 9,465.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,844 shares of the basic materials company's stock after acquiring an additional 18,647 shares during the period. Larson Financial Group LLC's holdings in Steel Dynamics were worth $2,376,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Swedbank AB boosted its holdings in Steel Dynamics by 0.4% in the 3rd quarter. Swedbank AB now owns 209,614 shares of the basic materials company's stock valued at $26,428,000 after purchasing an additional 798 shares in the last quarter. Kingsview Wealth Management LLC boosted its holdings in Steel Dynamics by 7.6% in the 3rd quarter. Kingsview Wealth Management LLC now owns 70,225 shares of the basic materials company's stock valued at $8,854,000 after purchasing an additional 4,970 shares in the last quarter. Cerity Partners LLC boosted its holdings in Steel Dynamics by 41.8% in the 3rd quarter. Cerity Partners LLC now owns 95,486 shares of the basic materials company's stock valued at $12,039,000 after purchasing an additional 28,131 shares in the last quarter. Raymond James Trust N.A. purchased a new stake in Steel Dynamics in the 3rd quarter valued at approximately $201,000. Finally, Eagle Asset Management Inc. boosted its holdings in Steel Dynamics by 3.4% in the 3rd quarter. Eagle Asset Management Inc. now owns 39,065 shares of the basic materials company's stock valued at $4,925,000 after purchasing an additional 1,270 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on STLD. UBS Group raised Steel Dynamics from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $129.00 to $145.00 in a report on Tuesday, September 3rd. Bank of America raised Steel Dynamics from a "neutral" rating to a "buy" rating and boosted their price target for the stock from $140.00 to $155.00 in a research note on Tuesday, October 1st. JPMorgan Chase & Co. boosted their price target on Steel Dynamics from $129.00 to $134.00 and gave the stock a "neutral" rating in a research note on Friday, October 18th. BMO Capital Markets boosted their price target on Steel Dynamics from $130.00 to $135.00 and gave the stock a "market perform" rating in a research note on Friday, October 18th. Finally, Morgan Stanley decreased their price target on Steel Dynamics from $138.00 to $131.00 and set an "equal weight" rating on the stock in a research note on Wednesday, September 18th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $144.29.

Steel Dynamics Price Performance

Shares of Steel Dynamics stock traded up $1.41 during trading on Monday, hitting $144.98. 1,928,245 shares of the company were exchanged, compared to its average volume of 1,280,509. The company has a quick ratio of 1.26, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The stock has a market capitalization of $22.07 billion, a price-to-earnings ratio of 13.12 and a beta of 1.31. The firm has a 50 day moving average price of $132.92 and a 200 day moving average price of $127.51.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.98 by $0.07. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.18 billion. During the same period in the previous year, the firm posted $3.47 EPS. The company's quarterly revenue was down 5.4% compared to the same quarter last year. On average, equities analysts expect that Steel Dynamics, Inc. will post 10.1 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Investors of record on Tuesday, December 31st will be given a dividend of $0.46 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.27%. Steel Dynamics's dividend payout ratio is currently 16.65%.

Insider Buying and Selling

In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of the business's stock in a transaction on Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the transaction, the vice president now directly owns 17,100 shares in the company, valued at approximately $2,306,106. The trade was a 10.47 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Glenn Pushis sold 17,941 shares of the business's stock in a transaction on Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the transaction, the senior vice president now owns 146,693 shares of the company's stock, valued at $19,523,371.37. This trade represents a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,591 shares of company stock worth $3,885,938 in the last ninety days. Insiders own 6.00% of the company's stock.

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.