Cambridge Investment Research Advisors Inc. Has $5.14 Million Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Cambridge Investment Research Advisors Inc. decreased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 0.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 41,113 shares of the basic materials company’s stock after selling 288 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Steel Dynamics were worth $5,142,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in the business. Forum Financial Management LP lifted its stake in Steel Dynamics by 2.5% in the fourth quarter. Forum Financial Management LP now owns 3,113 shares of the basic materials company’s stock valued at $355,000 after acquiring an additional 75 shares during the last quarter. OneAscent Financial Services LLC lifted its stake in Steel Dynamics by 2.2% in the fourth quarter. OneAscent Financial Services LLC now owns 4,605 shares of the basic materials company’s stock valued at $527,000 after acquiring an additional 101 shares during the last quarter. Parallel Advisors LLC lifted its stake in Steel Dynamics by 6.3% in the first quarter. Parallel Advisors LLC now owns 1,734 shares of the basic materials company’s stock valued at $217,000 after acquiring an additional 102 shares during the last quarter. Optas LLC lifted its stake in Steel Dynamics by 7.1% in the first quarter. Optas LLC now owns 1,911 shares of the basic materials company’s stock valued at $239,000 after acquiring an additional 126 shares during the last quarter. Finally, Axxcess Wealth Management LLC lifted its stake in Steel Dynamics by 7.0% in the fourth quarter. Axxcess Wealth Management LLC now owns 1,967 shares of the basic materials company’s stock valued at $224,000 after acquiring an additional 128 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Down 0.2%

Shares of STLD opened at $131.21 on Friday. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $155.56. The firm’s 50 day moving average is $130.23 and its 200-day moving average is $126.02. The stock has a market capitalization of $19.48 billion, a PE ratio of 17.33, a P/E/G ratio of 1.02 and a beta of 1.38. The company has a current ratio of 2.74, a quick ratio of 1.38 and a debt-to-equity ratio of 0.44.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.40 by $0.04. Steel Dynamics had a net margin of 6.80% and a return on equity of 13.26%. The company had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.17 billion. During the same period last year, the firm earned $3.67 earnings per share. Equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 1.52%. Steel Dynamics’s dividend payout ratio is presently 26.42%.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, Director Gabriel Shaheen sold 1,254 shares of the firm’s stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $134.11, for a total value of $168,173.94. Following the transaction, the director now directly owns 81,812 shares of the company’s stock, valued at $10,971,807.32. This trade represents a 1.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Miguel Alvarez sold 7,495 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the completion of the transaction, the senior vice president now directly owns 125,319 shares in the company, valued at approximately $16,950,647.94. This represents a 5.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on STLD. BMO Capital Markets raised shares of Steel Dynamics from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $135.00 to $145.00 in a research report on Monday, March 31st. Wall Street Zen lowered shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Friday, April 25th. JPMorgan Chase & Co. increased their price objective on shares of Steel Dynamics from $135.00 to $138.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 price objective on the stock in a research report on Monday, March 24th. Finally, Morgan Stanley increased their price objective on shares of Steel Dynamics from $140.00 to $145.00 and gave the company an “overweight” rating in a research report on Friday, June 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.00.

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.