Greenleaf Trust Grows Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Greenleaf Trust grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.6% in the fourth quarter, Holdings Channel reports. The firm owned 9,949 shares of the basic materials company’s stock after acquiring an additional 159 shares during the period. Greenleaf Trust’s holdings in Steel Dynamics were worth $1,175,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Ameriprise Financial Inc. increased its holdings in Steel Dynamics by 165.4% during the 3rd 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 during the period. Norges Bank bought a new position in shares of Steel Dynamics during the 4th quarter worth $90,665,000. First Trust Advisors LP increased its stake in shares of Steel Dynamics by 183.6% during the first quarter. First Trust Advisors LP now owns 1,380,388 shares of the basic materials company’s stock valued at $115,166,000 after buying an additional 893,705 shares during the period. State Street Corp raised its holdings in shares of Steel Dynamics by 9.5% in the first quarter. State Street Corp now owns 9,207,455 shares of the basic materials company’s stock valued at $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% in the fourth quarter. Morgan Stanley now owns 3,034,652 shares of the basic materials company’s stock worth $296,486,000 after acquiring an additional 684,975 shares during the period. 82.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on STLD shares. UBS Group reduced their price target on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a report on Wednesday, January 24th. Citigroup lifted their price objective on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. 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 report on Tuesday, April 16th. Finally, BMO Capital Markets lifted their price target on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Monday, March 18th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has assigned a buy rating to the company. According to MarketBeat, Steel Dynamics has an average rating of “Hold” and an average target price of $121.17.

Steel Dynamics Trading Up 0.6 %

NASDAQ STLD opened at $136.90 on Monday. Steel Dynamics, Inc. has a 52 week low of $90.55 and a 52 week high of $151.34. The company has a 50 day moving average price of $136.21 and a 200 day moving average price of $121.58. The company has a quick ratio of 1.67, a current ratio of 2.91 and a debt-to-equity ratio of 0.30. The firm has a market cap of $21.62 billion, a PE ratio of 9.38 and a beta of 1.42.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly 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). Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period in the previous year, the company posted $4.37 earnings per share. The business’s revenue for the quarter was down 12.3% on a year-over-year basis. As a group, sell-side analysts forecast that Steel Dynamics, Inc. will post 11.79 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st were paid a $0.46 dividend. The ex-dividend date was Wednesday, March 27th. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a yield of 1.34%. Steel Dynamics’s dividend payout ratio (DPR) is 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.