Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Xponance Inc.

Xponance Inc. cut its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 3.3% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 20,055 shares of the basic materials company’s stock after selling 691 shares during the period. Xponance Inc.’s holdings in Steel Dynamics were worth $2,368,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC grew its stake in shares of Steel Dynamics by 25.8% in the fourth quarter. Global Retirement Partners LLC now owns 478 shares of the basic materials company’s stock valued at $53,000 after buying an additional 98 shares in the last quarter. Allworth Financial LP grew its stake in shares of Steel Dynamics by 2.2% in the fourth quarter. Allworth Financial LP now owns 4,853 shares of the basic materials company’s stock valued at $573,000 after buying an additional 103 shares in the last quarter. Greenfield Savings Bank grew its stake in shares of Steel Dynamics by 0.9% in the fourth quarter. Greenfield Savings Bank now owns 11,591 shares of the basic materials company’s stock valued at $1,369,000 after buying an additional 108 shares in the last quarter. Knights of Columbus Asset Advisors LLC grew its stake in shares of Steel Dynamics by 0.3% in the third quarter. Knights of Columbus Asset Advisors LLC now owns 44,547 shares of the basic materials company’s stock valued at $4,776,000 after buying an additional 113 shares in the last quarter. Finally, Oppenheimer & Co. Inc. grew its stake in Steel Dynamics by 1.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 8,196 shares of the basic materials company’s stock worth $879,000 after purchasing an additional 115 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

STLD has been the subject of several analyst reports. Citigroup boosted their target price on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. BMO Capital Markets boosted their target price on Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Monday, March 18th. UBS Group lowered 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, JPMorgan Chase & Co. boosted their target price on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $121.17.

Steel Dynamics Trading Up 0.3 %

NASDAQ:STLD opened at $137.30 on Tuesday. The stock has a 50-day simple moving average of $136.48 and a 200-day simple moving average of $121.79. The stock has a market cap of $21.69 billion, a P/E ratio of 9.41 and a beta of 1.42. Steel Dynamics, Inc. has a 1 year low of $90.55 and a 1 year high of $151.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.91.

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

Steel Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were given a dividend of $0.46 per share. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a dividend yield of 1.34%. The ex-dividend date was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio is currently 12.61%.

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.