Steel Dynamics, Inc. $STLD Shares Acquired by Oak Thistle LLC

Oak Thistle LLC boosted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 210.5% in the 4th quarter, Holdings Channel reports. The firm owned 8,849 shares of the basic materials company’s stock after buying an additional 5,999 shares during the period. Oak Thistle LLC’s holdings in Steel Dynamics were worth $1,499,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in STLD. Versant Capital Management Inc grew its holdings in Steel Dynamics by 13.2% during the third quarter. Versant Capital Management Inc now owns 548 shares of the basic materials company’s stock valued at $76,000 after purchasing an additional 64 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in Steel Dynamics by 4.1% during the third quarter. Northwestern Mutual Wealth Management Co. now owns 1,764 shares of the basic materials company’s stock valued at $246,000 after purchasing an additional 70 shares during the period. Bartlett & CO. Wealth Management LLC grew its holdings in Steel Dynamics by 24.8% during the third quarter. Bartlett & CO. Wealth Management LLC now owns 377 shares of the basic materials company’s stock valued at $53,000 after purchasing an additional 75 shares during the period. Choreo LLC grew its holdings in Steel Dynamics by 3.3% during the third quarter. Choreo LLC now owns 2,521 shares of the basic materials company’s stock valued at $353,000 after purchasing an additional 80 shares during the period. Finally, Laird Norton Wetherby Wealth Management LLC grew its holdings in Steel Dynamics by 2.4% during the third quarter. Laird Norton Wetherby Wealth Management LLC now owns 3,468 shares of the basic materials company’s stock valued at $484,000 after purchasing an additional 80 shares during the period. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Up 5.9%

Steel Dynamics stock opened at $187.56 on Thursday. The stock has a market capitalization of $27.14 billion, a PE ratio of 23.42, a price-to-earnings-growth ratio of 0.49 and a beta of 1.39. Steel Dynamics, Inc. has a twelve month low of $108.74 and a twelve month high of $208.47. The company has a quick ratio of 1.29, a current ratio of 3.06 and a debt-to-equity ratio of 0.48. The company has a 50 day moving average of $185.16 and a 200-day moving average of $169.21.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share for the quarter, beating the consensus estimate of $1.72 by $0.10. The company 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 business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.36 earnings per share. On average, equities research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st will be issued a $0.53 dividend. This represents a $2.12 annualized dividend and a dividend yield of 1.1%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.50. The ex-dividend date is Tuesday, March 31st. Steel Dynamics’s dividend payout ratio is currently 26.47%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Wall Street Zen cut shares of Steel Dynamics from a “buy” rating to a “hold” rating in a report on Saturday, April 4th. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. KeyCorp initiated coverage on shares of Steel Dynamics in a report on Wednesday, March 25th. They set an “overweight” rating and a $190.00 price objective for the company. Morgan Stanley reiterated an “underperform” rating and issued a $190.00 price target on shares of Steel Dynamics in a report on Tuesday, March 17th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Steel Dynamics from $194.00 to $192.00 and set a “neutral” rating for the company in a report on Wednesday, March 18th. Five research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Steel Dynamics has an average rating of “Hold” and an average 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.