Financial Enhancement Group LLC Makes New $405,000 Investment in Steel Dynamics, Inc. (NASDAQ:STLD)

Financial Enhancement Group LLC purchased a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 3,204 shares of the basic materials company’s stock, valued at approximately $405,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Larson Financial Group LLC bought a new stake in shares of Steel Dynamics during the 1st quarter worth about $25,000. LifeSteps Financial Inc. bought a new stake in shares of Steel Dynamics during the 1st quarter worth $26,000. Security National Bank acquired a new position in Steel Dynamics in the 4th quarter valued at $30,000. Innealta Capital LLC bought a new position in Steel Dynamics in the 2nd quarter worth $33,000. Finally, Thurston Springer Miller Herd & Titak Inc. bought a new position in Steel Dynamics in the 2nd quarter worth $41,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analysts Set New Price Targets

STLD has been the topic of several research analyst reports. BMO Capital Markets lowered their price target on Steel Dynamics from $140.00 to $135.00 and set a “market perform” rating on the stock in a research report on Tuesday, June 18th. Morgan Stanley raised their price objective on shares of Steel Dynamics from $134.00 to $138.00 and gave the stock an “equal weight” rating in a research note on Thursday, August 15th. JPMorgan Chase & Co. upped their price objective on shares of Steel Dynamics from $118.00 to $120.00 and gave the company an “underweight” rating in a research report on Tuesday, July 16th. Jefferies Financial Group assumed coverage on Steel Dynamics in a research report on Monday, May 20th. They set a “hold” rating and a $150.00 target price on the stock. Finally, UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their price target for the company from $129.00 to $145.00 in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, Steel Dynamics presently has a consensus rating of “Hold” and an average price target of $141.86.

Steel Dynamics Price Performance

NASDAQ STLD traded up $1.18 on Wednesday, reaching $115.14. The company’s stock had a trading volume of 59,068 shares, compared to its average volume of 1,218,883. Steel Dynamics, Inc. has a 52 week low of $95.53 and a 52 week high of $151.34. The company has a current ratio of 2.35, a quick ratio of 1.19 and a debt-to-equity ratio of 0.25. The firm has a market cap of $17.77 billion, a PE ratio of 7.83 and a beta of 1.32. The business has a 50-day moving average price of $123.78 and a 200 day moving average price of $130.46.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.05. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The firm had revenue of $4.63 billion during the quarter, compared to analyst estimates of $4.43 billion. During the same period in the prior year, the company posted $4.81 earnings per share. The business’s revenue for the quarter was down 8.8% compared to the same quarter last year. Sell-side analysts expect that Steel Dynamics, Inc. will post 10.74 EPS for the current year.

Steel Dynamics Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 11th. Shareholders of record on Monday, September 30th will be given a $0.46 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $1.84 dividend on an annualized basis and a yield of 1.60%. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.64%.

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.