Kestra Private Wealth Services LLC Has $401,000 Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Kestra Private Wealth Services LLC lifted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 30.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,397 shares of the basic materials company’s stock after acquiring an additional 792 shares during the period. Kestra Private Wealth Services LLC’s holdings in Steel Dynamics were worth $401,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Nordea Investment Management AB raised its position in shares of Steel Dynamics by 1.1% in the 4th quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company’s stock valued at $118,787,000 after acquiring an additional 11,026 shares during the period. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Steel Dynamics in the fourth quarter valued at approximately $14,762,000. Barclays PLC raised its holdings in shares of Steel Dynamics by 3.1% in the third quarter. Barclays PLC now owns 363,518 shares of the basic materials company’s stock valued at $38,975,000 after purchasing an additional 10,942 shares during the last quarter. AustralianSuper Pty Ltd raised its holdings in shares of Steel Dynamics by 13.1% in the fourth quarter. AustralianSuper Pty Ltd now owns 514,888 shares of the basic materials company’s stock valued at $60,808,000 after purchasing an additional 59,668 shares during the last quarter. Finally, Louisiana State Employees Retirement System acquired a new stake in shares of Steel Dynamics in the fourth quarter valued at approximately $1,087,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on STLD shares. UBS Group decreased their target price 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. Citigroup raised their target price 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. BMO Capital Markets raised their target price 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, JPMorgan Chase & Co. raised their target price on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and one has assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $121.17.

Steel Dynamics Price Performance

NASDAQ:STLD opened at $132.71 on Wednesday. Steel Dynamics, Inc. has a one year low of $90.55 and a one year high of $151.34. The company has a market cap of $20.96 billion, a P/E ratio of 9.11 and a beta of 1.47. The firm’s fifty day moving average price is $138.24 and its two-hundred day moving average price is $123.87. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, beating the consensus estimate of $3.54 by $0.13. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The business had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.74 billion. During the same period in the prior year, the company posted $4.01 earnings per share. Steel Dynamics’s revenue was down 4.1% compared to the same quarter last year. Equities analysts expect that Steel Dynamics, Inc. will post 12.76 earnings per share for the current year.

Steel Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were issued a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.39%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. Steel Dynamics’s dividend payout ratio is 12.64%.

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.