Steel Dynamics, Inc. (NASDAQ:STLD) Stock Position Raised by Simplicity Solutions LLC

Simplicity Solutions LLC raised its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 64.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 4,792 shares of the basic materials company’s stock after buying an additional 1,880 shares during the quarter. Simplicity Solutions LLC’s holdings in Steel Dynamics were worth $566,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. CVA Family Office LLC acquired a new position in Steel Dynamics in the 4th quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC acquired a new position in Steel Dynamics in the 4th quarter valued at approximately $29,000. Wellington Shields & Co. LLC increased its stake in Steel Dynamics by 50.0% in the 4th quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock valued at $29,000 after buying an additional 100 shares during the period. Clear Street Markets LLC increased its stake in Steel Dynamics by 94.0% in the 1st quarter. Clear Street Markets LLC now owns 326 shares of the basic materials company’s stock valued at $37,000 after buying an additional 158 shares during the period. Finally, Coppell Advisory Solutions LLC acquired a new position in Steel Dynamics in the 2nd quarter valued at approximately $40,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $138.93 on Thursday. Steel Dynamics, Inc. has a 1 year low of $90.55 and a 1 year high of $151.34. The firm’s fifty day simple moving average is $135.75 and its 200 day simple moving average is $121.05. The company has a current ratio of 2.91, a quick ratio of 1.67 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $21.94 billion, a PE ratio of 9.52 and a beta of 1.42.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.02). Steel Dynamics had a net margin of 13.04% and a return on equity of 29.49%. The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.22 billion. During the same quarter in the previous year, the business posted $4.37 earnings per share. The business’s quarterly revenue was down 12.3% compared to the same quarter last year. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 11.6 EPS for the current year.

Steel Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were paid a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a yield of 1.32%. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.61%.

Analysts Set New Price Targets

STLD has been the topic of several research reports. Citigroup upped their price objective on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. UBS Group dropped their price target on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. JPMorgan Chase & Co. increased their price target on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research note on Tuesday. Finally, BMO Capital Markets increased their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Monday, March 18th. One research analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $120.29.

Steel Dynamics 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.