2,740 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Purchased by MeadowBrook Investment Advisors LLC

MeadowBrook Investment Advisors LLC purchased a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,740 shares of the basic materials company’s stock, valued at approximately $324,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. CVA Family Office LLC purchased a new position in Steel Dynamics during the fourth quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC bought a new stake in Steel Dynamics in the fourth quarter worth approximately $29,000. Lindbrook Capital LLC raised its holdings in shares of Steel Dynamics by 117.5% during the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 134 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in shares of Steel Dynamics in the 4th quarter valued at $44,000. Finally, Denali Advisors LLC boosted its holdings in Steel Dynamics by 99.0% in the fourth quarter. Denali Advisors LLC now owns 406 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 202 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on STLD. Citigroup increased their price objective on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. UBS Group lowered their price target on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. BMO Capital Markets lifted their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research report on Monday, March 18th. Finally, JPMorgan Chase & Co. upped their price objective on shares of 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 given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $121.17.

Steel Dynamics Stock Performance

NASDAQ STLD traded down $0.27 during midday trading on Tuesday, hitting $132.33. The company had a trading volume of 306,396 shares, compared to its average volume of 1,193,570. The firm has a fifty day simple moving average of $138.25 and a two-hundred day simple moving average of $123.64. Steel Dynamics, Inc. has a fifty-two week low of $90.55 and a fifty-two week high of $151.34. The company has a quick ratio of 1.55, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. The stock has a market cap of $20.90 billion, a price-to-earnings ratio of 9.11 and a beta of 1.47.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period last year, the business earned $4.01 earnings per share. Equities analysts forecast that Steel Dynamics, Inc. will post 12.76 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were given a $0.46 dividend. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a yield of 1.39%. The ex-dividend date of this dividend was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio (DPR) is 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.