Fidelis Capital Partners LLC Takes $220,000 Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Fidelis Capital Partners LLC purchased a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 1,860 shares of the basic materials company’s stock, valued at approximately $220,000.

Other institutional investors also recently modified their holdings of the company. CVA Family Office LLC bought a new position in shares of Steel Dynamics in the fourth quarter valued at approximately $28,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Steel Dynamics in the fourth quarter valued at approximately $29,000. Wellington Shields & Co. LLC raised its position in shares of Steel Dynamics by 50.0% in the fourth quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 100 shares during the period. Clearstead Advisors LLC bought a new position in shares of Steel Dynamics in the third quarter valued at approximately $35,000. Finally, Clear Street Markets LLC increased its position in Steel Dynamics by 94.0% during the first quarter. Clear Street Markets LLC now owns 326 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 158 shares during the period. Institutional investors own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. UBS Group dropped their target price on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. 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, April 16th. 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. Finally, 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. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Steel Dynamics presently has an average rating of “Hold” and a consensus target price of $120.29.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $136.90 on Friday. 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 stock has a market cap of $21.62 billion, a PE ratio of 9.38 and a beta of 1.42. The stock has a 50-day moving average of $136.21 and a 200-day moving average of $121.47. Steel Dynamics, Inc. has a one year low of $90.55 and a one year high of $151.34.

Steel Dynamics (NASDAQ:STLD) last released its quarterly 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). Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. The firm had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same period last year, the company earned $4.37 EPS. The company’s revenue was down 12.3% compared to the same quarter last year. As a group, sell-side analysts expect that Steel Dynamics, Inc. will post 11.79 earnings per share for the current year.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.34%. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.43. Steel Dynamics’s dividend payout ratio is presently 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.