Steel Dynamics, Inc. (NASDAQ:STLD) Stock Position Decreased by Victory Capital Management Inc.

Victory Capital Management Inc. lessened its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 2.6% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 292,342 shares of the basic materials company’s stock after selling 7,668 shares during the period. Victory Capital Management Inc.’s holdings in Steel Dynamics were worth $34,526,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of STLD. CVA Family Office LLC bought a new stake in shares of Steel Dynamics during the 4th quarter valued at about $28,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Steel Dynamics during the 4th quarter valued at about $29,000. Lindbrook Capital LLC grew its position 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 buying an additional 134 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Steel Dynamics during the 4th quarter valued at about $44,000. Finally, Denali Advisors LLC grew its position in shares of Steel Dynamics by 99.0% during the 4th quarter. Denali Advisors LLC now owns 406 shares of the basic materials company’s stock valued at $48,000 after buying an additional 202 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on STLD. JPMorgan Chase & Co. upped their target price on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. BMO Capital Markets upped their target price on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, March 18th. UBS Group decreased their target price on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a research report on Wednesday, January 24th. Finally, Citigroup upped their target price on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. One 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’s stock. According to data from MarketBeat, Steel Dynamics has a consensus rating of “Hold” and a consensus price target of $121.17.

Steel Dynamics Trading Down 2.1 %

Shares of NASDAQ:STLD opened at $132.60 on Tuesday. The company has a 50 day moving average of $138.25 and a 200-day moving average of $123.64. The firm has a market cap of $20.94 billion, a P/E ratio of 9.11 and a beta of 1.47. Steel Dynamics, Inc. has a twelve month low of $90.55 and a twelve month high of $151.34. The company has a current ratio of 2.87, a quick ratio of 1.55 and a debt-to-equity ratio of 0.29.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly 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. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The company had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same period in the prior year, the business posted $4.01 EPS. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, analysts anticipate that Steel Dynamics, Inc. will post 12.76 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were paid a dividend of $0.46 per share. The ex-dividend date was Wednesday, March 27th. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a yield of 1.39%. 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.