Steel Dynamics, Inc. (NASDAQ:STLD) Stock Position Raised by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC lifted its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 13.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 61,236 shares of the basic materials company’s stock after purchasing an additional 7,272 shares during the period. Wedge Capital Management L L P NC’s holdings in Steel Dynamics were worth $7,232,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. CWM LLC raised its stake in Steel Dynamics by 30.4% during the 3rd quarter. CWM LLC now owns 4,069 shares of the basic materials company’s stock valued at $436,000 after purchasing an additional 948 shares during the period. HB Wealth Management LLC boosted its position in Steel Dynamics by 16.5% during the 3rd quarter. HB Wealth Management LLC now owns 2,218 shares of the basic materials company’s stock worth $238,000 after acquiring an additional 314 shares during the period. Flagship Harbor Advisors LLC purchased a new position in Steel Dynamics during the 3rd quarter valued at about $206,000. Capital Asset Advisory Services LLC lifted its position in shares of Steel Dynamics by 13.5% in the third quarter. Capital Asset Advisory Services LLC now owns 2,140 shares of the basic materials company’s stock worth $236,000 after purchasing an additional 254 shares in the last quarter. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in shares of Steel Dynamics by 64.1% during the third quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 11,436 shares of the basic materials company’s stock worth $1,226,000 after purchasing an additional 4,465 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have weighed in on STLD. JPMorgan Chase & Co. upped their target price on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. UBS Group reduced their target price on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a research note on Wednesday, January 24th. BMO Capital Markets increased their price target on shares of 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, Citigroup upped their price objective on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat.com, Steel Dynamics presently has an average rating of “Hold” and a consensus target price of $121.17.

Steel Dynamics Stock Down 2.3 %

NASDAQ STLD opened at $134.16 on Wednesday. Steel Dynamics, Inc. has a 1-year low of $90.55 and a 1-year high of $151.34. The company has a current ratio of 2.91, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. The stock’s 50 day moving average is $136.80 and its two-hundred day moving average is $121.97. The company has a market capitalization of $21.19 billion, a price-to-earnings ratio of 9.20 and a beta of 1.42.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, January 23rd. The basic materials company reported $2.61 EPS 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 period last year, the company earned $4.37 earnings per share. Steel Dynamics’s revenue for the quarter was down 12.3% compared to the same quarter last year. Equities analysts forecast that Steel Dynamics, Inc. will post 11.79 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Investors 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 yield of 1.37%. The ex-dividend date of this dividend was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio is currently 12.61%.

Steel Dynamics 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.