HB Wealth Management LLC Increases Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

HB Wealth Management LLC increased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 33.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,963 shares of the basic materials company’s stock after buying an additional 745 shares during the period. HB Wealth Management LLC’s holdings in Steel Dynamics were worth $350,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its position in Steel Dynamics by 3.0% during the first quarter. BlackRock Inc. now owns 17,595,650 shares of the basic materials company’s stock worth $1,989,364,000 after buying an additional 510,981 shares in the last quarter. State Street Corp increased its position in Steel Dynamics by 9.5% during the 1st quarter. State Street Corp now owns 9,207,455 shares of the basic materials company’s stock worth $771,198,000 after purchasing an additional 800,656 shares in the last quarter. Royal London Asset Management Ltd. lifted its holdings in Steel Dynamics by 0.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 3,745,326 shares of the basic materials company’s stock valued at $401,574,000 after purchasing an additional 12,208 shares in the last quarter. Morgan Stanley boosted its stake in shares of Steel Dynamics by 29.2% during the 4th quarter. Morgan Stanley now owns 3,034,652 shares of the basic materials company’s stock worth $296,486,000 after purchasing an additional 684,975 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Steel Dynamics by 15.5% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,308,698 shares of the basic materials company’s stock worth $225,560,000 after buying an additional 309,009 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on STLD. JPMorgan Chase & Co. raised their target price on shares of Steel Dynamics from $95.00 to $98.00 and gave the stock an “underweight” rating in a research report on Tuesday, December 12th. BMO Capital Markets lifted their price objective on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research report on Monday, March 18th. UBS Group dropped their target price 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. Finally, Citigroup lifted their price target on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $118.13.

Steel Dynamics Price Performance

Shares of STLD stock opened at $148.23 on Friday. The firm has a market cap of $23.44 billion, a P/E ratio of 10.16 and a beta of 1.41. The firm has a fifty day moving average of $128.31 and a two-hundred day moving average of $116.70. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.91 and a quick ratio of 1.67. Steel Dynamics, Inc. has a 1-year low of $90.55 and a 1-year high of $148.74.

Steel Dynamics (NASDAQ:STLD) last issued 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 return on equity of 29.49% and a net margin of 13.04%. The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.22 billion. During the same period in the prior year, the business earned $4.37 EPS. The business’s revenue was down 12.3% on a year-over-year basis. As a group, research analysts anticipate that Steel Dynamics, Inc. will post 11.63 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.24%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. Steel Dynamics’s payout ratio is 11.65%.

Steel Dynamics Company 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.