10,000 Shares in Steel Dynamics, Inc. $STLD Purchased by Murphy Middleton Hinkle & Parker Inc.

Murphy Middleton Hinkle & Parker Inc. bought a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,000 shares of the basic materials company’s stock, valued at approximately $1,694,000.

Other institutional investors also recently bought and sold shares of the company. Cornerstone Planning Group LLC lifted its position in shares of 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 worth $27,000 after purchasing an additional 180 shares in the last quarter. Toth Financial Advisory Corp boosted its stake in shares of Steel Dynamics by 50.0% in the third quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 100 shares during the period. Covestor Ltd grew its holdings in shares of Steel Dynamics by 44.3% in the third quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 93 shares in the last quarter. CNB Bank acquired a new position in shares of Steel Dynamics in the third quarter valued at approximately $43,000. Finally, Measured Wealth Private Client Group LLC purchased a new stake in Steel Dynamics during the 3rd quarter worth approximately $46,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Up 1.6%

STLD stock opened at $166.64 on Tuesday. The stock has a market cap of $24.14 billion, a P/E ratio of 20.80, a PEG ratio of 0.45 and a beta of 1.43. The company has a current ratio of 3.06, a quick ratio of 1.29 and a debt-to-equity ratio of 0.48. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $208.47. The company’s 50 day moving average is $184.63 and its two-hundred day moving average is $165.89.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.10. The business had revenue of $4.41 billion during the quarter, compared to analysts’ expectations 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 in the prior year, the business posted $1.36 EPS. Research analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st will be paid a $0.53 dividend. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a yield of 1.3%. The ex-dividend date is Tuesday, March 31st. Steel Dynamics’s payout ratio is currently 24.97%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Jefferies Financial Group reiterated a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. Wells Fargo & Company cut their price objective on Steel Dynamics from $210.00 to $196.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a research note on Monday, December 29th. JPMorgan Chase & Co. decreased their target price on Steel Dynamics from $194.00 to $192.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Finally, Morgan Stanley reissued an “underperform” rating and set 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 assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $182.44.

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.