Cerity Partners LLC Acquires Shares of 63,903 Steel Dynamics, Inc. (NASDAQ:STLD)

Cerity Partners LLC acquired a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 63,903 shares of the basic materials company’s stock, valued at approximately $7,547,000.

Other hedge funds also recently made changes to their positions in the company. CVA Family Office LLC acquired a new position in shares of Steel Dynamics in the 4th quarter worth approximately $28,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Steel Dynamics in the 4th quarter worth approximately $29,000. Wellington Shields & Co. LLC grew its position in shares of Steel Dynamics by 50.0% in 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 grew its position in shares of Steel Dynamics by 94.0% in 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 acquired a new position in shares of Steel Dynamics in the 2nd quarter worth approximately $40,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Up 0.2 %

STLD opened at $140.97 on Tuesday. Steel Dynamics, Inc. has a one year low of $90.55 and a one year high of $151.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.91. The stock’s fifty day moving average is $135.07 and its 200-day moving average is $120.70. The company has a market capitalization of $22.27 billion, a PE ratio of 9.66 and a beta of 1.42.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.02). The company had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.22 billion. Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The business’s revenue was down 12.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.37 earnings per share. On average, equities analysts predict that Steel Dynamics, Inc. will post 11.6 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.31%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, March 27th. Steel Dynamics’s payout ratio is presently 12.61%.

Wall Street Analyst Weigh In

STLD has been the subject of several research reports. 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 price target on Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Monday, March 18th. Finally, Citigroup lifted their target price on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $117.43.

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.