Steel Dynamics, Inc. (NASDAQ:STLD) Holdings Raised by First Trust Direct Indexing L.P.

First Trust Direct Indexing L.P. boosted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 18.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 3,593 shares of the basic materials company’s stock after acquiring an additional 548 shares during the quarter. First Trust Direct Indexing L.P.’s holdings in Steel Dynamics were worth $424,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mach 1 Financial Group LLC bought a new position in shares of Steel Dynamics in the fourth quarter valued at $241,000. Kestra Private Wealth Services LLC grew its stake in Steel Dynamics by 30.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 3,397 shares of the basic materials company’s stock valued at $401,000 after acquiring an additional 792 shares in the last quarter. Paradiem LLC lifted its position in shares of Steel Dynamics by 28.1% in the fourth quarter. Paradiem LLC now owns 64,039 shares of the basic materials company’s stock worth $7,563,000 after purchasing an additional 14,048 shares in the last quarter. Headlands Technologies LLC acquired a new stake in shares of Steel Dynamics during the fourth quarter worth approximately $134,000. Finally, Spinnaker Trust grew its position in Steel Dynamics by 6.0% during the fourth quarter. Spinnaker Trust now owns 55,911 shares of the basic materials company’s stock valued at $6,603,000 after purchasing an additional 3,167 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. JPMorgan Chase & Co. lifted their target price on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. 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. Citigroup raised their price objective 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. Finally, 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. 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, Steel Dynamics currently has an average rating of “Hold” and a consensus target price of $121.17.

Steel Dynamics Stock Performance

Shares of STLD opened at $132.60 on Tuesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55. Steel Dynamics, Inc. has a one year low of $90.55 and a one year high of $151.34. The company’s fifty day moving average price is $138.25 and its 200 day moving average price is $123.64. The company has a market capitalization of $20.94 billion, a PE ratio of 9.11 and a beta of 1.47.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The business had revenue of $4.69 billion for the quarter, compared to analyst estimates of $4.74 billion. During the same period in the previous year, the company posted $4.01 earnings per share. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. As a group, analysts expect that Steel Dynamics, Inc. will post 12.76 earnings per share for the current year.

Steel Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.39%. 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 dividend payout ratio is currently 12.64%.

Steel Dynamics Company 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.