Xponance Inc. Sells 691 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Xponance Inc. decreased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 20,055 shares of the basic materials company’s stock after selling 691 shares during the quarter. Xponance Inc.’s holdings in Steel Dynamics were worth $2,368,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in STLD. CWM LLC grew its position in shares of Steel Dynamics by 30.4% during the 3rd quarter. CWM LLC now owns 4,069 shares of the basic materials company’s stock worth $436,000 after buying an additional 948 shares in the last quarter. IFP Advisors Inc grew its position in shares of Steel Dynamics by 5.1% during the 3rd quarter. IFP Advisors Inc now owns 5,506 shares of the basic materials company’s stock worth $590,000 after buying an additional 267 shares in the last quarter. HB Wealth Management LLC grew its position in shares of Steel Dynamics by 16.5% during the 3rd quarter. HB Wealth Management LLC now owns 2,218 shares of the basic materials company’s stock worth $238,000 after buying an additional 314 shares in the last quarter. Flagship Harbor Advisors LLC purchased a new stake in shares of Steel Dynamics during the 3rd quarter worth $206,000. Finally, Capital Asset Advisory Services LLC lifted its stake in shares of Steel Dynamics by 13.5% during the 3rd quarter. Capital Asset Advisory Services LLC now owns 2,140 shares of the basic materials company’s stock worth $236,000 after purchasing an additional 254 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

STLD has been the subject of a number of analyst reports. BMO Capital Markets upped their price objective on Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Monday, March 18th. UBS Group decreased their price target on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a research note on Wednesday, January 24th. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. Finally, Citigroup increased their price target on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $121.17.

Steel Dynamics Trading Up 0.3 %

Shares of NASDAQ:STLD opened at $137.30 on Tuesday. Steel Dynamics, Inc. has a 52-week low of $90.55 and a 52-week high of $151.34. The stock has a market cap of $21.69 billion, a price-to-earnings ratio of 9.41 and a beta of 1.42. The company has a quick ratio of 1.67, a current ratio of 2.91 and a debt-to-equity ratio of 0.30. The business has a 50-day moving average price of $136.48 and a 200-day moving average price of $121.79.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, January 23rd. The basic materials company reported $2.61 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.63 by ($0.02). Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The firm had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.22 billion. During the same quarter in the previous year, the business earned $4.37 earnings per share. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. Equities analysts predict that Steel Dynamics, Inc. will post 11.79 EPS for the current year.

Steel Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.34%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio (DPR) is 12.61%.

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.