Mirabella Financial Services LLP Raises Stock Position in Steel Dynamics, Inc. $STLD

Mirabella Financial Services LLP lifted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 135.8% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,756 shares of the basic materials company’s stock after buying an additional 24,046 shares during the quarter. Mirabella Financial Services LLP’s holdings in Steel Dynamics were worth $5,811,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in STLD. Versant Capital Management Inc raised its position in shares of Steel Dynamics by 13.2% in the third quarter. Versant Capital Management Inc now owns 548 shares of the basic materials company’s stock worth $76,000 after acquiring an additional 64 shares during the period. Bartlett & CO. Wealth Management LLC increased its stake in shares of Steel Dynamics by 24.8% in the 3rd quarter. Bartlett & CO. Wealth Management LLC now owns 377 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 75 shares in the last quarter. Choreo LLC increased its stake in shares of Steel Dynamics by 3.3% in the 3rd quarter. Choreo LLC now owns 2,521 shares of the basic materials company’s stock valued at $353,000 after purchasing an additional 80 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC raised its holdings in Steel Dynamics by 2.4% in the 3rd quarter. Laird Norton Wetherby Wealth Management LLC now owns 3,468 shares of the basic materials company’s stock worth $484,000 after purchasing an additional 80 shares during the period. Finally, Bessemer Group Inc. boosted its position in Steel Dynamics by 6.4% during the third quarter. Bessemer Group Inc. now owns 1,339 shares of the basic materials company’s stock worth $187,000 after purchasing an additional 81 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. KeyCorp reissued an “overweight” rating and issued a $190.00 price objective on shares of Steel Dynamics in a report on Wednesday, January 7th. Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a research note on Monday, December 29th. Wall Street Zen lowered shares of Steel Dynamics from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 7th. Wells Fargo & Company upped their price objective on shares of Steel Dynamics from $190.00 to $210.00 and gave the stock an “overweight” rating in a research report on Monday, March 2nd. Finally, Jefferies Financial Group increased their price objective on shares of Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a report on Wednesday, December 10th. Five research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $184.22.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $174.28 on Tuesday. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.06 and a quick ratio of 1.29. The stock’s 50 day simple moving average is $184.86 and its 200-day simple moving average is $164.56. The company has a market cap of $25.25 billion, a PE ratio of 21.76, a price-to-earnings-growth ratio of 0.45 and a beta of 1.43. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $208.47.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, January 27th. The basic materials company reported $1.82 EPS for the quarter, topping 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 firm had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.62 billion. During the same period in the previous year, the business earned $1.36 earnings per share. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. As a group, equities research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be issued a dividend of $0.53 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This is a positive change 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 1.2%. Steel Dynamics’s payout ratio is currently 24.97%.

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.