LPL Financial LLC raised its position in Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) by 5.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 62,868 shares of the basic materials company’s stock after acquiring an additional 3,331 shares during the quarter. LPL Financial LLC’s holdings in Steel Dynamics were worth $6,142,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. KMG Fiduciary Partners LLC acquired a new stake in shares of Steel Dynamics during the 4th quarter worth about $205,000. Signaturefd LLC raised its stake in Steel Dynamics by 5.0% in the 4th quarter. Signaturefd LLC now owns 2,552 shares of the basic materials company’s stock worth $249,000 after purchasing an additional 122 shares in the last quarter. Keebeck Alpha LP raised its stake in Steel Dynamics by 10.0% in the 3rd quarter. Keebeck Alpha LP now owns 4,729 shares of the basic materials company’s stock worth $336,000 after purchasing an additional 430 shares in the last quarter. Gladstone Institutional Advisory LLC acquired a new stake in Steel Dynamics in the 4th quarter worth about $4,137,000. Finally, Busey Wealth Management acquired a new stake in Steel Dynamics in the 4th quarter worth about $247,000. Institutional investors and hedge funds own 79.54% of the company’s stock.
Steel Dynamics Trading Up 0.2 %
Shares of Steel Dynamics stock opened at $97.20 on Monday. The firm has a market capitalization of $16.43 billion, a PE ratio of 5.18 and a beta of 1.48. The company has a current ratio of 4.15, a quick ratio of 2.51 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average is $107.96 and its 200 day moving average is $108.66. Steel Dynamics, Inc. has a 1 year low of $62.44 and a 1 year high of $136.46.
Steel Dynamics (NASDAQ:STLD – Get Rating) last announced its quarterly earnings results on Wednesday, April 19th. The basic materials company reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.81 by $0.20. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.95 billion. Steel Dynamics had a net margin of 15.73% and a return on equity of 47.68%. The firm’s revenue was down 12.1% on a year-over-year basis. During the same period in the previous year, the firm posted $6.02 EPS. Equities research analysts forecast that Steel Dynamics, Inc. will post 16.17 earnings per share for the current fiscal year.
Steel Dynamics Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, April 14th. Investors of record on Friday, March 31st were given a dividend of $0.425 per share. The ex-dividend date of this dividend was Thursday, March 30th. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.34. This represents a $1.70 annualized dividend and a yield of 1.75%. Steel Dynamics’s dividend payout ratio (DPR) is currently 9.05%.
Wall Street Analyst Weigh In
Several analysts have weighed in on the stock. StockNews.com cut shares of Steel Dynamics from a “buy” rating to a “hold” rating in a research note on Friday, March 24th. Morgan Stanley lifted their price objective on shares of Steel Dynamics from $85.00 to $93.00 and gave the stock an “equal weight” rating in a research note on Monday, January 30th. UBS Group decreased their target price on shares of Steel Dynamics from $110.00 to $100.00 in a report on Friday, May 5th. Citigroup lowered shares of Steel Dynamics from a “buy” rating to a “neutral” rating in a report on Wednesday, March 15th. Finally, Credit Suisse Group raised their target price on shares of Steel Dynamics from $106.00 to $115.00 and gave the company an “outperform” rating in a report on Friday, April 21st. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. According to MarketBeat, Steel Dynamics presently has a consensus rating of “Hold” and a consensus price target of $111.13.
About Steel Dynamics
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Steel Dynamics, Inc engages in the manufacture of steel products and metal recycling. It operates through the following segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment consists of sheet products including hot roll, cold roll, and coated steel, long products including structural steel beams, pilings, and standard and premium grade rail, and steel finishing services such as turning, polishing, straightening, chamfering, threading, and precision saw-cutting.
Further Reading
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