Steel Dynamics, Inc. (NASDAQ:STLD) Stock Holdings Cut by Wright Investors Service Inc.

Wright Investors Service Inc. reduced its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 6.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,540 shares of the basic materials company’s stock after selling 447 shares during the quarter. Wright Investors Service Inc.’s holdings in Steel Dynamics were worth $772,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. CVA Family Office LLC bought a new stake in shares of Steel Dynamics during the 4th quarter worth $28,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Steel Dynamics during the 4th quarter worth $29,000. Wellington Shields & Co. LLC boosted its stake in shares of Steel Dynamics by 50.0% during the 4th quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 100 shares in the last quarter. Clear Street Markets LLC boosted its stake in shares of Steel Dynamics by 94.0% during the 1st quarter. Clear Street Markets LLC now owns 326 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 158 shares in the last quarter. Finally, Coppell Advisory Solutions LLC bought a new stake in shares of Steel Dynamics during the 2nd quarter worth $40,000. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $136.07 on Friday. The company has a current ratio of 2.91, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. Steel Dynamics, Inc. has a 1 year low of $90.55 and a 1 year high of $151.34. The business has a fifty day simple moving average of $135.97 and a 200 day simple moving average of $121.15. The firm has a market cap of $21.49 billion, a price-to-earnings ratio of 9.33 and a beta of 1.42.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share for the quarter, missing the consensus estimate of $2.63 by ($0.02). Steel Dynamics had a net margin of 13.04% and a return on equity of 29.49%. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.22 billion. During the same quarter last year, the business earned $4.37 earnings per share. Steel Dynamics’s quarterly revenue was down 12.3% on a year-over-year basis. As a group, sell-side analysts predict that Steel Dynamics, Inc. will post 11.79 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st were issued a dividend of $0.46 per share. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a yield of 1.35%. The ex-dividend date was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio (DPR) is 12.61%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on STLD shares. JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research note on Tuesday. UBS Group decreased their target price on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a research report on Wednesday, January 24th. BMO Capital Markets raised their target price on Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, March 18th. Finally, Citigroup raised their target price on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Steel Dynamics currently has an average rating of “Hold” and an average price target of $120.29.

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.