244 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Acquired by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 244 shares of the basic materials company’s stock, valued at approximately $29,000.

Other large investors have also made changes to their positions in the company. Ameriprise Financial Inc. lifted its stake in Steel Dynamics by 165.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,014,956 shares of the basic materials company’s stock valued at $212,447,000 after purchasing an additional 1,255,751 shares during the last quarter. Norges Bank bought a new position in Steel Dynamics in the 4th quarter valued at approximately $90,665,000. First Trust Advisors LP lifted its stake in Steel Dynamics by 183.6% in the 1st quarter. First Trust Advisors LP now owns 1,380,388 shares of the basic materials company’s stock valued at $115,166,000 after purchasing an additional 893,705 shares during the last quarter. State Street Corp lifted its stake in Steel Dynamics by 9.5% in the 1st quarter. State Street Corp now owns 9,207,455 shares of the basic materials company’s stock valued at $771,198,000 after purchasing an additional 800,656 shares during the last quarter. Finally, Morgan Stanley lifted its stake in Steel Dynamics by 29.2% in the 4th quarter. Morgan Stanley now owns 3,034,652 shares of the basic materials company’s stock valued at $296,486,000 after purchasing an additional 684,975 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Price Performance

Shares of NASDAQ STLD opened at $140.63 on Friday. Steel Dynamics, Inc. has a twelve month low of $90.55 and a twelve month high of $151.34. The firm has a fifty day simple moving average of $134.68 and a 200 day simple moving average of $120.23. The company has a market capitalization of $22.21 billion, a PE ratio of 9.64 and a beta of 1.42. The company has a quick ratio of 1.67, a current ratio of 2.91 and a debt-to-equity ratio of 0.30.

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

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st will be issued a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.31%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, March 27th. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.61%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports 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 for the company in a research note on Wednesday, January 24th. BMO Capital Markets raised their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, March 18th. Finally, Citigroup raised their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. 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 stock. According to data from MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and an average price target of $117.43.

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.