Steel Dynamics, Inc. (NASDAQ:STLD) Shares Bought by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV increased its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 46.9% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 67,503 shares of the basic materials company’s stock after acquiring an additional 21,563 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in Steel Dynamics were worth $8,976,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Larson Financial Group LLC bought a new position in Steel Dynamics in the 1st quarter worth about $25,000. LifeSteps Financial Inc. acquired a new position in shares of Steel Dynamics during the first quarter worth approximately $26,000. Security National Bank bought a new position in Steel Dynamics in the 4th quarter worth approximately $30,000. Innealta Capital LLC acquired a new stake in Steel Dynamics in the 2nd quarter valued at approximately $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Steel Dynamics in the 2nd quarter valued at approximately $41,000. 82.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. JPMorgan Chase & Co. raised Steel Dynamics from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $120.00 to $131.00 in a research note on Monday, September 9th. UBS Group upgraded shares of Steel Dynamics from a “neutral” rating to a “buy” rating and increased their target price for the company from $129.00 to $145.00 in a research report on Tuesday, September 3rd. BMO Capital Markets lowered their target price on shares of Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating on the stock in a research note on Tuesday. Morgan Stanley reduced their price target on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research note on Wednesday. Finally, Bank of America lowered their price objective on shares of Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. Six investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $141.29.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $119.83 on Friday. The firm has a 50-day moving average of $120.30 and a two-hundred day moving average of $129.08. The company has a market capitalization of $18.83 billion, a price-to-earnings ratio of 8.23 and a beta of 1.32. The company has a current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25. Steel Dynamics, Inc. has a twelve month low of $98.25 and a twelve month high of $151.34.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.05. The firm had revenue of $4.63 billion during the quarter, compared to analysts’ expectations of $4.43 billion. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The firm’s revenue for the quarter was down 8.8% compared to the same quarter last year. During the same period last year, the firm posted $4.81 earnings per share. As a group, analysts expect that Steel Dynamics, Inc. will post 10.57 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.54%. The ex-dividend date of this dividend is Monday, September 30th. Steel Dynamics’s payout ratio is 12.64%.

Steel Dynamics 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.