Larson Financial Group LLC Has $2.38 Million Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Larson Financial Group LLC raised its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 9,465.5% during the 3rd quarter, HoldingsChannel reports. The firm owned 18,844 shares of the basic materials company’s stock after purchasing an additional 18,647 shares during the quarter. Larson Financial Group LLC’s holdings in Steel Dynamics were worth $2,376,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in STLD. Innealta Capital LLC bought a new stake in shares of Steel Dynamics in the second quarter valued at approximately $33,000. Thurston Springer Miller Herd & Titak Inc. bought a new stake in shares of Steel Dynamics in the second quarter valued at approximately $41,000. Cullen Frost Bankers Inc. boosted its position in shares of Steel Dynamics by 33.3% in the second quarter. Cullen Frost Bankers Inc. now owns 400 shares of the basic materials company’s stock valued at $52,000 after acquiring an additional 100 shares during the period. HHM Wealth Advisors LLC bought a new stake in shares of Steel Dynamics in the second quarter valued at approximately $52,000. Finally, Quest Partners LLC bought a new stake in shares of Steel Dynamics in the third quarter valued at approximately $62,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Insiders Place Their Bets

In other news, VP Chad Bickford sold 2,000 shares of the firm’s stock in a transaction on Monday, October 28th. The stock was sold at an average price of $134.86, for a total value of $269,720.00. Following the completion of the sale, the vice president now directly owns 17,100 shares in the company, valued at approximately $2,306,106. This trade represents a 10.47 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Glenn Pushis sold 17,941 shares of the firm’s stock in a transaction on Monday, October 21st. The shares were sold at an average price of $133.09, for a total value of $2,387,767.69. Following the completion of the sale, the senior vice president now owns 146,693 shares of the company’s stock, valued at approximately $19,523,371.37. This trade represents a 10.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 28,591 shares of company stock worth $3,885,938 over the last three months. 6.10% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and increased their price objective for the company from $140.00 to $155.00 in a research report on Tuesday, October 1st. BMO Capital Markets raised their target price on Steel Dynamics from $130.00 to $135.00 and gave the stock a “market perform” rating in a research report on Friday, October 18th. Morgan Stanley reduced their target price 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. JPMorgan Chase & Co. raised their target price on Steel Dynamics from $129.00 to $134.00 and gave the stock a “neutral” rating in a research report on Friday, October 18th. Finally, UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and raised their target price for the stock from $129.00 to $145.00 in a research report on Tuesday, September 3rd. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $144.29.

Steel Dynamics Stock Performance

Steel Dynamics stock opened at $143.57 on Monday. The company has a debt-to-equity ratio of 0.31, a current ratio of 2.39 and a quick ratio of 1.26. The stock has a fifty day moving average price of $132.24 and a two-hundred day moving average price of $127.44. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56. The firm has a market capitalization of $21.86 billion, a P/E ratio of 12.99 and a beta of 1.31.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data 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 firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.18 billion. During the same period in the prior year, the company posted $3.47 earnings per share. The business’s revenue for the quarter was down 5.4% compared to the same quarter last year. As a group, analysts anticipate that Steel Dynamics, Inc. will post 10.1 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 10th. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.46 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.84 annualized dividend and a yield of 1.28%. Steel Dynamics’s dividend payout ratio is currently 16.65%.

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.