FNY Investment Advisers LLC Has $135,000 Stock Position in Steel Dynamics, Inc. $STLD

FNY Investment Advisers LLC lessened its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 79.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 800 shares of the basic materials company’s stock after selling 3,076 shares during the period. FNY Investment Advisers LLC’s holdings in Steel Dynamics were worth $135,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. Cornerstone Planning Group LLC increased its position in shares of Steel Dynamics by 1,636.4% during the 3rd quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 180 shares during the last quarter. Toth Financial Advisory Corp raised its stake in shares of 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. Covestor Ltd boosted its holdings in shares of Steel Dynamics by 44.3% in the 3rd quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock valued at $42,000 after buying an additional 93 shares during the last quarter. CNB Bank bought a new position in shares of Steel Dynamics in the third quarter valued at $43,000. Finally, Measured Wealth Private Client Group LLC bought a new position in shares of Steel Dynamics in the third quarter valued at $46,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on STLD shares. Wells Fargo & Company lowered their target price on shares of Steel Dynamics from $210.00 to $196.00 and set an “overweight” rating on the stock in a report on Wednesday, March 18th. Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. Wall Street Zen lowered shares of Steel Dynamics from a “buy” rating to a “hold” rating in a research note on Saturday. JPMorgan Chase & Co. dropped their target price on shares of Steel Dynamics from $194.00 to $192.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Finally, Morgan Stanley reiterated an “underperform” rating and issued a $190.00 target price on shares of Steel Dynamics in a research note on Tuesday, March 17th. Five analysts have rated the stock with a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $182.44.

Steel Dynamics Price Performance

STLD opened at $180.20 on Friday. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $208.47. The stock’s fifty day simple moving average is $184.81 and its 200 day simple moving average is $168.33. The company has a current ratio of 3.06, a quick ratio of 1.29 and a debt-to-equity ratio of 0.48. The stock has a market cap of $26.08 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 0.49 and a beta of 1.39.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, January 27th. The basic materials company reported $1.82 EPS for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $4.62 billion. During the same period in the previous year, the business posted $1.36 earnings per share. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, research analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.53 per share. The ex-dividend date is Tuesday, March 31st. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.50. Steel Dynamics’s dividend payout ratio is 26.47%.

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.