BTC Capital Management Inc. Has $13.77 Million Stock Holdings in Steel Dynamics, Inc. $STLD

BTC Capital Management Inc. trimmed its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 8.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 81,204 shares of the basic materials company’s stock after selling 7,244 shares during the quarter. Steel Dynamics comprises 1.0% of BTC Capital Management Inc.’s portfolio, making the stock its 27th biggest holding. BTC Capital Management Inc. owned about 0.06% of Steel Dynamics worth $13,774,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. NewEdge Advisors LLC grew its holdings in Steel Dynamics by 307.5% during the 1st quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock worth $102,000 after acquiring an additional 618 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of Steel Dynamics by 82.7% in the first quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock worth $435,000 after acquiring an additional 1,578 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of Steel Dynamics by 14.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,694 shares of the basic materials company’s stock worth $217,000 after purchasing an additional 218 shares in the last quarter. Edgestream Partners L.P. lifted its position in shares of Steel Dynamics by 477.1% during the second quarter. Edgestream Partners L.P. now owns 32,427 shares of the basic materials company’s stock worth $4,151,000 after purchasing an additional 26,808 shares in the last quarter. Finally, Blueshift Asset Management LLC grew its stake in shares of Steel Dynamics by 102.8% during the second quarter. Blueshift Asset Management LLC now owns 11,500 shares of the basic materials company’s stock valued at $1,472,000 after purchasing an additional 5,829 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Trading Up 4.8%

STLD opened at $180.00 on Wednesday. The firm has a 50 day simple moving average of $184.74 and a 200 day simple moving average of $167.60. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $208.47. The company has a market cap of $26.05 billion, a price-to-earnings ratio of 22.47, a price-to-earnings-growth ratio of 0.47 and a beta of 1.43. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.06 and a quick ratio of 1.29.

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

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be given a $0.53 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $2.12 annualized dividend and a dividend yield of 1.2%. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.50. Steel Dynamics’s dividend payout ratio is 24.97%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on STLD. Morgan Stanley reissued an “underperform” rating and issued a $190.00 price target on shares of Steel Dynamics in a report on Tuesday, March 17th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. Wall Street Zen cut Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 7th. JPMorgan Chase & Co. dropped their target price on Steel Dynamics from $194.00 to $192.00 and set a “neutral” rating for the company in a research report on Wednesday, March 18th. Finally, KeyCorp assumed coverage on Steel Dynamics in a research note on Wednesday, March 25th. They set an “overweight” rating and a $190.00 price target on the stock. Five equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Steel Dynamics currently has an average rating of “Hold” and an average target price of $182.44.

About Steel Dynamics

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.