Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Signet Financial Management LLC

Signet Financial Management LLC lessened its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 0.5% during the fourth quarter, Holdings Channel reports. The firm owned 43,671 shares of the basic materials company’s stock after selling 223 shares during the period. Signet Financial Management LLC’s holdings in Steel Dynamics were worth $5,158,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. CVA Family Office LLC purchased a new stake in Steel Dynamics during the 4th quarter worth $28,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Steel Dynamics in the 4th quarter worth about $29,000. Wellington Shields & Co. LLC increased its position in shares of Steel Dynamics by 50.0% in the 4th quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 100 shares during the last quarter. Clear Street Markets LLC increased its position in shares of Steel Dynamics by 94.0% in the 1st quarter. Clear Street Markets LLC now owns 326 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 158 shares during the last quarter. Finally, Coppell Advisory Solutions LLC bought a new stake in shares of Steel Dynamics in the 2nd quarter worth about $40,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD traded down $2.20 during midday trading on Tuesday, hitting $138.77. The company’s stock had a trading volume of 524,658 shares, compared to its average volume of 1,170,275. Steel Dynamics, Inc. has a 1-year low of $90.55 and a 1-year high of $151.34. The firm’s fifty day moving average price is $135.07 and its 200-day moving average price is $120.70. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.91. The firm has a market cap of $21.92 billion, a P/E ratio of 9.55 and a beta of 1.42.

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

Steel Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st were paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.33%. 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 payout ratio is presently 12.61%.

Analysts Set New Price Targets

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

About Steel Dynamics

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.