Accurate Wealth Management LLC Raises Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Accurate Wealth Management LLC increased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 32.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,553 shares of the basic materials company’s stock after purchasing an additional 1,832 shares during the period. Accurate Wealth Management LLC’s holdings in Steel Dynamics were worth $879,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in STLD. Greenfield Savings Bank increased its holdings in Steel Dynamics by 4.8% in the fourth quarter. Greenfield Savings Bank now owns 12,895 shares of the basic materials company’s stock valued at $1,471,000 after buying an additional 596 shares in the last quarter. Harbour Capital Advisors LLC increased its holdings in Steel Dynamics by 133.7% in the fourth quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company’s stock valued at $1,301,000 after buying an additional 6,579 shares in the last quarter. Czech National Bank increased its holdings in Steel Dynamics by 5.0% in the fourth quarter. Czech National Bank now owns 30,700 shares of the basic materials company’s stock valued at $3,502,000 after buying an additional 1,468 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in Steel Dynamics in the fourth quarter valued at $28,000. Finally, Nordea Investment Management AB increased its holdings in Steel Dynamics by 22.4% in the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock valued at $158,487,000 after buying an additional 253,802 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Up 1.3 %

STLD stock opened at $125.18 on Thursday. The company has a current ratio of 2.39, a quick ratio of 1.26 and a debt-to-equity ratio of 0.31. The firm has a 50-day moving average of $130.63 and a two-hundred day moving average of $126.50. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The company has a market cap of $19.06 billion, a price-to-earnings ratio of 11.33 and a beta of 1.36.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, October 16th. The basic materials company reported $2.05 EPS for the quarter, topping analysts’ consensus estimates of $1.98 by $0.07. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.18 billion. Steel Dynamics had a return on equity of 19.82% and a net margin of 9.80%. The firm’s revenue was down 5.4% compared to the same quarter last year. During the same quarter last year, the business posted $3.47 earnings per share. As a group, analysts forecast that Steel Dynamics, Inc. will post 10.09 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 10th. Stockholders of record on Tuesday, December 31st were given a dividend of $0.46 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.84 annualized dividend and a dividend yield of 1.47%. Steel Dynamics’s payout ratio is 16.65%.

Analyst Ratings Changes

STLD has been the subject of a number of recent analyst reports. Jefferies Financial Group cut their price objective on shares of Steel Dynamics from $145.00 to $125.00 and set a “hold” rating for the company in a report on Monday, January 6th. UBS Group reaffirmed a “neutral” rating and issued a $149.00 price objective (up previously from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Morgan Stanley cut their price objective on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. Finally, BMO Capital Markets lifted their target price on shares of Steel Dynamics from $130.00 to $135.00 and gave the company a “market perform” rating in a research report on Friday, October 18th. Six analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $141.13.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, VP Chad Bickford sold 2,000 shares of the business’s stock in a transaction dated Monday, October 28th. The shares were sold at an average price of $134.86, for a total value of $269,720.00. Following the transaction, the vice president now directly owns 17,100 shares in the company, valued at $2,306,106. The trade was a 10.47 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Miguel Alvarez sold 6,650 shares of the firm’s stock in a transaction that occurred on Wednesday, November 13th. The stock was sold at an average price of $143.00, for a total transaction of $950,950.00. Following the sale, the senior vice president now owns 116,949 shares of the company’s stock, valued at $16,723,707. This represents a 5.38 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 28,591 shares of company stock valued at $3,885,938. 6.10% of the stock is owned by company insiders.

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.