Entropy Technologies LP Boosts Stock Holdings in Steel Dynamics, Inc. $STLD

Entropy Technologies LP lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1,979.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 34,537 shares of the basic materials company’s stock after buying an additional 32,876 shares during the quarter. Entropy Technologies LP’s holdings in Steel Dynamics were worth $4,815,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in STLD. Advisory Research Inc. increased its holdings in shares of Steel Dynamics by 3.2% in the 3rd quarter. Advisory Research Inc. now owns 22,353 shares of the basic materials company’s stock worth $3,117,000 after purchasing an additional 685 shares in the last quarter. Sei Investments Co. raised its stake in shares of Steel Dynamics by 5.7% in the third quarter. Sei Investments Co. now owns 111,001 shares of the basic materials company’s stock worth $15,480,000 after purchasing an additional 5,950 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of Steel Dynamics by 31.8% in the third quarter. BNP Paribas Financial Markets now owns 294,176 shares of the basic materials company’s stock worth $41,017,000 after purchasing an additional 70,990 shares during the last quarter. Van ECK Associates Corp raised its stake in shares of Steel Dynamics by 27.4% in the third quarter. Van ECK Associates Corp now owns 118,936 shares of the basic materials company’s stock worth $16,583,000 after purchasing an additional 25,585 shares during the last quarter. Finally, Bank of Montreal Can lifted its holdings in shares of Steel Dynamics by 7.9% during the third quarter. Bank of Montreal Can now owns 308,038 shares of the basic materials company’s stock valued at $42,950,000 after purchasing an additional 22,588 shares in the last quarter. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Trading Down 5.0%

Shares of NASDAQ:STLD opened at $175.10 on Friday. The stock has a market capitalization of $25.37 billion, a price-to-earnings ratio of 21.86, a PEG ratio of 0.50 and a beta of 1.43. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.29 and a current ratio of 3.06. The stock’s 50-day simple moving average is $184.92 and its two-hundred day simple moving average is $163.56. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $208.47.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, January 27th. The basic materials company reported $1.82 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $4.62 billion. During the same quarter in the prior year, the firm earned $1.36 EPS. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. Analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Shareholders of record on Tuesday, March 31st will be issued a dividend of $0.53 per share. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.50. This represents a $2.12 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, March 31st. Steel Dynamics’s dividend payout ratio is currently 24.97%.

Analyst Ratings Changes

STLD has been the subject of several research analyst reports. Jefferies Financial Group lifted their price objective on Steel Dynamics from $180.00 to $190.00 and gave the stock a “buy” rating in a report on Wednesday, December 10th. JPMorgan Chase & Co. upped their target price on shares of Steel Dynamics from $165.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, December 5th. Morgan Stanley reaffirmed an “equal weight” rating and set a $194.00 price target (up from $173.00) on shares of Steel Dynamics in a report on Friday, January 9th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a research note on Monday, December 29th. Finally, Wall Street Zen downgraded shares of Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 7th. Five analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $184.22.

Steel Dynamics 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.