Simplicity Wealth LLC Has $417,000 Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Simplicity Wealth LLC decreased its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 45.7% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,304 shares of the basic materials company’s stock after selling 2,780 shares during the quarter. Simplicity Wealth LLC’s holdings in Steel Dynamics were worth $417,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Nordea Investment Management AB boosted its stake in Steel Dynamics by 2.5% in the 1st quarter. Nordea Investment Management AB now owns 1,034,133 shares of the basic materials company’s stock valued at $153,290,000 after buying an additional 25,280 shares in the last quarter. SG Americas Securities LLC boosted its stake in Steel Dynamics by 1,498.4% in the 1st quarter. SG Americas Securities LLC now owns 29,730 shares of the basic materials company’s stock valued at $4,407,000 after buying an additional 27,870 shares in the last quarter. Trustmark National Bank Trust Department boosted its stake in Steel Dynamics by 126.6% in the 1st quarter. Trustmark National Bank Trust Department now owns 7,134 shares of the basic materials company’s stock valued at $1,057,000 after buying an additional 3,986 shares in the last quarter. Bessemer Group Inc. boosted its stake in Steel Dynamics by 2,679.3% in the 1st quarter. Bessemer Group Inc. now owns 10,867 shares of the basic materials company’s stock valued at $1,611,000 after buying an additional 10,476 shares in the last quarter. Finally, Hennessy Advisors Inc. raised its position in Steel Dynamics by 30.3% in the 1st quarter. Hennessy Advisors Inc. now owns 59,700 shares of the basic materials company’s stock valued at $8,849,000 after purchasing an additional 13,900 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on STLD shares. UBS Group upgraded 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 research report on Tuesday, September 3rd. Bank of America upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. BMO Capital Markets lifted their price objective on Steel Dynamics from $127.00 to $130.00 and gave the company a “market perform” rating in a research report on Thursday. Morgan Stanley cut their price objective on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 18th. Finally, JPMorgan Chase & Co. cut their price objective on Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Four analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $142.86.

Steel Dynamics Trading Up 1.1 %

STLD stock opened at $129.86 on Monday. The company has a market cap of $20.04 billion, a P/E ratio of 10.41 and a beta of 1.31. Steel Dynamics, Inc. has a twelve month low of $98.25 and a twelve month high of $151.34. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25. The business has a fifty day moving average of $119.64 and a 200-day moving average of $127.80.

Steel Dynamics (NASDAQ:STLD) last released 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 company had revenue of $4.63 billion during the quarter, compared to the consensus estimate of $4.43 billion. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The firm’s quarterly revenue was down 8.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $4.81 earnings per share. As a group, equities research analysts expect that Steel Dynamics, Inc. will post 10.15 EPS for the current year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Investors of record on Monday, September 30th were issued a $0.46 dividend. The ex-dividend date was Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.42%. Steel Dynamics’s dividend payout ratio is presently 14.76%.

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.