SteelPeak Wealth LLC Increases Position in Steel Dynamics, Inc. (NASDAQ:STLD)

SteelPeak Wealth LLC boosted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 387.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,931 shares of the basic materials company's stock after buying an additional 14,249 shares during the quarter. SteelPeak Wealth LLC's holdings in Steel Dynamics were worth $2,125,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. CVA Family Office LLC bought a new position in shares of Steel Dynamics during the fourth quarter worth approximately $28,000. Wellington Shields & Co. LLC lifted its holdings in shares of Steel Dynamics by 50.0% during the fourth quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company's stock worth $29,000 after buying an additional 100 shares in the last quarter. Clearstead Advisors LLC bought a new stake in shares of Steel Dynamics in the third quarter valued at about $35,000. Clear Street Markets LLC boosted its position in shares of Steel Dynamics by 94.0% in the first quarter. Clear Street Markets LLC now owns 326 shares of the basic materials company's stock valued at $37,000 after acquiring an additional 158 shares during the period. Finally, Coppell Advisory Solutions LLC acquired a new position in shares of Steel Dynamics in the second quarter valued at about $40,000. Institutional investors own 82.41% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on STLD. Citigroup upped their target price on Steel Dynamics from $130.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, March 13th. BMO Capital Markets boosted 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 report on Monday, March 18th. JPMorgan Chase & Co. lifted their price objective on shares of Steel Dynamics from $95.00 to $98.00 and gave the company an "underweight" rating in a research note on Tuesday, December 12th. Finally, UBS Group cut 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. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, Steel Dynamics currently has an average rating of "Hold" and an average target price of $118.13.

Steel Dynamics Trading Up 0.4 %

Steel Dynamics stock traded up $0.56 during trading hours on Friday, reaching $147.27. The company had a trading volume of 638,506 shares, compared to its average volume of 1,198,209. The firm has a market cap of $23.26 billion, a price-to-earnings ratio of 10.06 and a beta of 1.42. Steel Dynamics, Inc. has a 12-month low of $90.55 and a 12-month high of $151.34. 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 50-day moving average price of $131.57 and a 200 day moving average price of $118.36.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings data 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 business had revenue of $4.23 billion during the quarter, compared to analysts' expectations of $4.22 billion. During the same quarter last year, the company posted $4.37 EPS. Steel Dynamics's revenue for the quarter was down 12.3% compared to the same quarter last year. Equities analysts forecast that Steel Dynamics, Inc. will post 11.37 earnings per share 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 dividend of $0.46 per share. This represents a $1.84 annualized dividend and a yield of 1.25%. The ex-dividend date is Wednesday, March 27th. This is a positive change from Steel Dynamics's previous quarterly dividend of $0.43. Steel Dynamics's payout ratio 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.