Steel Dynamics, Inc. (NASDAQ:STLD) Stake Lessened by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC lowered its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 2.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,968 shares of the basic materials company’s stock after selling 2,556 shares during the period. Chevy Chase Trust Holdings LLC owned approximately 0.05% of Steel Dynamics worth $10,035,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Cetera Advisor Networks LLC increased its stake in shares of Steel Dynamics by 43.5% in the first quarter. Cetera Advisor Networks LLC now owns 5,510 shares of the basic materials company’s stock worth $460,000 after acquiring an additional 1,670 shares during the last quarter. Natixis Advisors L.P. increased its stake in shares of Steel Dynamics by 23.8% in the first quarter. Natixis Advisors L.P. now owns 21,577 shares of the basic materials company’s stock worth $1,800,000 after acquiring an additional 4,154 shares during the last quarter. Bank of Montreal Can increased its stake in shares of Steel Dynamics by 36.5% in the first quarter. Bank of Montreal Can now owns 59,369 shares of the basic materials company’s stock worth $4,970,000 after acquiring an additional 15,865 shares during the last quarter. Blair William & Co. IL increased its stake in shares of Steel Dynamics by 20.5% in the first quarter. Blair William & Co. IL now owns 5,852 shares of the basic materials company’s stock worth $488,000 after acquiring an additional 996 shares during the last quarter. Finally, Aviva PLC increased its stake in shares of Steel Dynamics by 4.5% in the first quarter. Aviva PLC now owns 64,576 shares of the basic materials company’s stock worth $5,388,000 after acquiring an additional 2,772 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the stock. UBS Group dropped their price target on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. BMO Capital Markets upped their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Monday, March 18th. JPMorgan Chase & Co. increased 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. Finally, Citigroup increased 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. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $117.43.

Steel Dynamics Trading Up 0.4 %

Steel Dynamics stock opened at $147.85 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.91 and a quick ratio of 1.67. The company has a market capitalization of $23.35 billion, a price-to-earnings ratio of 10.13 and a beta of 1.42. Steel Dynamics, Inc. has a one year low of $90.55 and a one year high of $151.34. The company’s fifty day moving average price is $132.82 and its two-hundred day moving average price is $119.31.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results 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). The business had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.22 billion. Steel Dynamics had a net margin of 13.04% and a return on equity of 29.49%. The company’s revenue for the quarter was down 12.3% compared to the same quarter last year. During the same period in the prior year, the business posted $4.37 earnings per share. On average, analysts forecast that Steel Dynamics, Inc. will post 11.37 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. Stockholders of record on Sunday, March 31st will be given a $0.46 dividend. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a dividend yield of 1.24%. The ex-dividend date of this dividend is Wednesday, March 27th. Steel Dynamics’s dividend payout ratio (DPR) is currently 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.