Fielder Capital Group LLC Makes New $360,000 Investment in Steel Dynamics, Inc. (NASDAQ:STLD)

Fielder Capital Group LLC acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 3,050 shares of the basic materials company’s stock, valued at approximately $360,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Royal London Asset Management Ltd. increased its stake in Steel Dynamics by 0.3% during the 3rd quarter. Royal London Asset Management Ltd. now owns 3,745,326 shares of the basic materials company’s stock worth $401,574,000 after buying an additional 12,208 shares in the last quarter. Morgan Stanley raised its stake in Steel Dynamics by 0.8% in the 3rd quarter. Morgan Stanley now owns 2,612,430 shares of the basic materials company’s stock valued at $280,105,000 after purchasing an additional 19,833 shares during the last quarter. Northern Trust Corp lifted its holdings in Steel Dynamics by 6.4% in the 3rd quarter. Northern Trust Corp now owns 2,024,978 shares of the basic materials company’s stock valued at $217,118,000 after purchasing an additional 122,507 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in Steel Dynamics by 165.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,014,956 shares of the basic materials company’s stock worth $212,447,000 after purchasing an additional 1,255,751 shares during the last quarter. Finally, Nordea Investment Management AB grew its holdings in shares of Steel Dynamics by 1.1% during the fourth quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company’s stock worth $118,787,000 after buying an additional 11,026 shares in the last quarter. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have weighed in on the stock. Citigroup raised their target price on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. UBS Group reduced their price objective on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock 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 note on Monday, March 18th. Finally, JPMorgan Chase & Co. lifted their price target on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. One analyst has rated the stock with a sell rating, five have issued a hold rating and one has issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $121.17.

Steel Dynamics Trading Up 0.1 %

STLD stock traded up $0.11 during midday trading on Tuesday, hitting $132.71. 1,054,169 shares of the company’s stock were exchanged, compared to its average volume of 1,202,411. Steel Dynamics, Inc. has a 1-year low of $90.55 and a 1-year high of $151.34. The business has a 50-day simple moving average of $138.25 and a two-hundred day simple moving average of $123.64. The stock has a market capitalization of $20.96 billion, a PE ratio of 9.11 and a beta of 1.47. The company has a current ratio of 2.87, a quick ratio of 1.55 and a debt-to-equity ratio of 0.29.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.54 by $0.13. The firm had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. Steel Dynamics’s revenue was down 4.1% on a year-over-year basis. During the same period in the previous year, the firm earned $4.01 EPS. On average, sell-side analysts predict that Steel Dynamics, Inc. will post 12.76 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were issued a $0.46 dividend. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a dividend yield of 1.39%. The ex-dividend date was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio is currently 12.64%.

About Steel Dynamics

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.