Elevated Capital Advisors LLC Has $411,000 Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Elevated Capital Advisors LLC boosted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 5.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,260 shares of the basic materials company’s stock after purchasing an additional 178 shares during the period. Elevated Capital Advisors LLC’s holdings in Steel Dynamics were worth $411,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of STLD. Larson Financial Group LLC acquired a new stake in Steel Dynamics during the 1st quarter valued at $25,000. Innealta Capital LLC acquired a new stake in Steel Dynamics during the 2nd quarter valued at $33,000. Thurston Springer Miller Herd & Titak Inc. acquired a new stake in Steel Dynamics during the 2nd quarter valued at $41,000. Cullen Frost Bankers Inc. increased its stake in shares of Steel Dynamics by 33.3% in the 2nd quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock valued at $52,000 after buying an additional 100 shares during the period. Finally, HHM Wealth Advisors LLC acquired a new stake in shares of Steel Dynamics in the 2nd quarter valued at $52,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on STLD. Morgan Stanley lowered their target price on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 18th. BMO Capital Markets lifted their target price on Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research note on Friday, October 18th. JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $129.00 to $134.00 and gave the company a “neutral” rating in a research note on Friday, October 18th. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their target price for the company from $129.00 to $145.00 in a research note on Tuesday, September 3rd. Finally, Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their target price for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, Steel Dynamics has an average rating of “Hold” and an average target price of $144.29.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Glenn Pushis sold 17,941 shares of Steel Dynamics stock in a transaction dated Monday, October 21st. The stock was sold at an average price of $133.09, for a total transaction of $2,387,767.69. Following the transaction, the senior vice president now directly owns 146,693 shares in the company, valued at approximately $19,523,371.37. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.00% of the company’s stock.

Steel Dynamics Stock Down 2.4 %

NASDAQ:STLD opened at $128.64 on Thursday. Steel Dynamics, Inc. has a 12-month low of $98.74 and a 12-month high of $151.34. The company has a quick ratio of 1.19, a current ratio of 2.39 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $20.21 billion, a P/E ratio of 8.84 and a beta of 1.31. The stock’s fifty day simple moving average is $121.43 and its 200-day simple moving average is $127.02.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results 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 business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.18 billion. During the same period last year, the company earned $3.47 EPS. The firm’s revenue was down 5.4% on a year-over-year basis. Equities research analysts expect that Steel Dynamics, Inc. will post 10.12 earnings per share for the current year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a dividend of $0.46 per share. The ex-dividend date was Monday, September 30th. This represents a $1.84 annualized dividend and a yield of 1.43%. Steel Dynamics’s dividend payout ratio is presently 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.