Edgemoor Investment Advisors Inc. Takes $544,000 Position in Steel Dynamics, Inc. $STLD

Edgemoor Investment Advisors Inc. bought a new position in Steel Dynamics, Inc. (NASDAQ:STLD) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 3,904 shares of the basic materials company’s stock, valued at approximately $544,000.

Several other hedge funds have also modified their holdings of the stock. Cornerstone Planning Group LLC lifted its stake in Steel Dynamics by 1,636.4% during the third quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock valued at $27,000 after buying an additional 180 shares in the last quarter. Trust Co. of Toledo NA OH acquired a new stake in shares of Steel Dynamics during the second quarter valued at approximately $30,000. Rosenberg Matthew Hamilton lifted its position in shares of Steel Dynamics by 306.2% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 264 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 199 shares in the last quarter. True Wealth Design LLC boosted its stake in Steel Dynamics by 120.4% in the 2nd quarter. True Wealth Design LLC now owns 324 shares of the basic materials company’s stock worth $41,000 after purchasing an additional 177 shares during the period. Finally, Toth Financial Advisory Corp grew its position in Steel Dynamics by 50.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 100 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Trading Up 0.2%

Shares of NASDAQ STLD opened at $202.75 on Tuesday. The business has a 50 day simple moving average of $175.53 and a 200 day simple moving average of $153.44. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $203.98. The stock has a market cap of $29.61 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 0.55 and a beta of 1.46. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.29 and a current ratio of 3.06.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.10. The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.62 billion. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The company’s revenue for the quarter was up 14.0% on a year-over-year basis. During the same quarter last year, the firm earned $1.36 earnings per share. On average, research analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Analysts Set New Price Targets

STLD has been the subject of several recent analyst reports. The Goldman Sachs Group set a $172.00 target price on Steel Dynamics and gave the stock a “neutral” rating in a research report on Friday, October 31st. Morgan Stanley restated an “equal weight” rating and set a $194.00 price objective (up from $173.00) on shares of Steel Dynamics in a research report on Friday, January 9th. BMO Capital Markets lifted their target price on Steel Dynamics from $155.00 to $167.00 and gave the company an “outperform” rating in a research note on Wednesday, October 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. Finally, Wells Fargo & Company boosted their price objective on shares of Steel Dynamics from $172.00 to $190.00 and gave the company an “overweight” rating in a research report on Monday, December 15th. Five analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Steel Dynamics presently has a consensus rating of “Hold” and an average price target of $182.00.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.