Xponance Inc. Decreases Stock Position in Steel Dynamics, Inc. $STLD

Xponance Inc. cut its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 41.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,795 shares of the basic materials company’s stock after selling 15,582 shares during the quarter. Xponance Inc.’s holdings in Steel Dynamics were worth $3,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Cornerstone Planning Group LLC raised its position in Steel Dynamics by 1,636.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 180 shares during the last quarter. Toth Financial Advisory Corp increased its stake in shares of Steel Dynamics by 50.0% during the third quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock valued at $42,000 after buying an additional 100 shares during the period. Covestor Ltd raised its holdings in shares of Steel Dynamics by 44.3% during the third quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 93 shares in the last quarter. CNB Bank purchased a new stake in Steel Dynamics in the third quarter worth $43,000. Finally, True Wealth Design LLC boosted its holdings in Steel Dynamics by 120.4% in the second quarter. True Wealth Design LLC now owns 324 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 177 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Up 4.3%

STLD stock opened at $201.51 on Tuesday. The stock has a market capitalization of $29.43 billion, a P/E ratio of 25.16, a P/E/G ratio of 0.52 and a beta of 1.43. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.06 and a quick ratio of 1.29. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $208.47. The business has a fifty day moving average price of $182.90 and a 200-day moving average price of $160.77.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, January 27th. The basic materials company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.72 by $0.10. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.The company had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.62 billion. During the same period last year, the firm posted $1.36 earnings per share. Steel Dynamics’s revenue was up 14.0% compared to the same quarter last year. Equities analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be paid a $0.53 dividend. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.50. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Tuesday, March 31st. Steel Dynamics’s dividend payout ratio (DPR) is presently 24.97%.

Analyst Ratings Changes

Several brokerages have commented on STLD. JPMorgan Chase & Co. upped their price objective on shares of Steel Dynamics from $165.00 to $190.00 and gave the stock a “neutral” rating in a report on Friday, December 5th. Morgan Stanley reiterated an “equal weight” rating and set a $194.00 price target (up from $173.00) on shares of Steel Dynamics in a research report on Friday, January 9th. UBS Group set a $165.00 price objective on shares of Steel Dynamics in a research note on Tuesday, November 4th. Jefferies Financial Group raised their target price on shares of Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a research note on Wednesday, December 10th. Finally, Wells Fargo & Company upped their price target on Steel Dynamics from $190.00 to $210.00 and gave the stock an “overweight” rating in a research note on Monday. Five investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $184.22.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.