Steel Dynamics, Inc. (NASDAQ:STLD) Shares Purchased by Sequoia Financial Advisors LLC

Sequoia Financial Advisors LLC boosted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 28.9% in the 4th quarter, HoldingsChannel reports. The fund owned 5,438 shares of the basic materials company’s stock after acquiring an additional 1,220 shares during the period. Sequoia Financial Advisors LLC’s holdings in Steel Dynamics were worth $642,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of STLD. Ameriprise Financial Inc. grew its stake in shares of Steel Dynamics by 165.4% during the third 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 in the last quarter. Norges Bank acquired a new position in shares of Steel Dynamics during the 4th quarter worth about $90,665,000. First Trust Advisors LP increased its holdings in shares of Steel Dynamics by 183.6% in the 1st quarter. First Trust Advisors LP now owns 1,380,388 shares of the basic materials company’s stock valued at $115,166,000 after acquiring an additional 893,705 shares during the last quarter. State Street Corp raised its position in shares of Steel Dynamics by 9.5% during the 1st quarter. State Street Corp now owns 9,207,455 shares of the basic materials company’s stock worth $771,198,000 after acquiring an additional 800,656 shares in the last quarter. Finally, Morgan Stanley lifted its stake in Steel Dynamics by 29.2% during the fourth quarter. Morgan Stanley now owns 3,034,652 shares of the basic materials company’s stock worth $296,486,000 after purchasing an additional 684,975 shares during the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have commented on STLD. UBS Group dropped their price target on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. BMO Capital Markets increased their target price 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, Citigroup boosted their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $117.43.

Steel Dynamics Stock Performance

Shares of Steel Dynamics stock opened at $140.97 on Tuesday. The firm’s fifty day simple moving average is $135.07 and its 200-day simple moving average is $120.70. Steel Dynamics, Inc. has a 12 month low of $90.55 and a 12 month high of $151.34. The stock has a market capitalization of $22.27 billion, a price-to-earnings ratio of 9.66 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.91 and a quick ratio of 1.67.

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

Steel Dynamics Increases Dividend

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

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.