Raymond James Financial Services Advisors Inc. Grows Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Raymond James Financial Services Advisors Inc. grew its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 57.6% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,771 shares of the basic materials company's stock after acquiring an additional 14,533 shares during the quarter. Raymond James Financial Services Advisors Inc.'s holdings in Steel Dynamics were worth $4,697,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. CVA Family Office LLC acquired a new position in Steel Dynamics during the 4th quarter valued at approximately $28,000. Wellington Shields & Co. LLC boosted its position in Steel Dynamics by 50.0% during the 4th 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 acquired a new position in Steel Dynamics during the 3rd quarter valued at approximately $35,000. Clear Street Markets LLC boosted its position in Steel Dynamics by 94.0% during the 1st quarter. Clear Street Markets LLC now owns 326 shares of the basic materials company's stock valued at $37,000 after purchasing an additional 158 shares during the period. Finally, Coppell Advisory Solutions LLC acquired a new position in Steel Dynamics during the 2nd quarter valued at approximately $40,000. 82.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on STLD. Citigroup boosted their price target on Steel Dynamics from $130.00 to $160.00 and gave the stock a "buy" rating in a research report on Wednesday, March 13th. BMO Capital Markets boosted their price target on Steel Dynamics from $110.00 to $120.00 and gave the stock a "market perform" rating in a research report on Monday, March 18th. JPMorgan Chase & Co. boosted their price target on Steel Dynamics from $95.00 to $98.00 and gave the stock an "underweight" rating in a research report on Tuesday, December 12th. Finally, UBS Group reduced their price target on Steel Dynamics from $120.00 to $119.00 and set a "neutral" rating for the company in a research report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Steel Dynamics presently has a consensus rating of "Hold" and a consensus target price of $117.43.

Steel Dynamics Price Performance

Shares of Steel Dynamics stock traded up $0.56 during trading on Friday, hitting $147.27. The stock had a trading volume of 638,497 shares, compared to its average volume of 1,064,162. 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 firm has a market cap of $23.26 billion, a P/E ratio of 10.09 and a beta of 1.42. The business has a fifty day moving average of $132.20 and a two-hundred day moving average of $118.84. Steel Dynamics, Inc. has a fifty-two week low of $90.55 and a fifty-two week high of $151.34.

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 the consensus estimate of $2.63 by ($0.02). The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.22 billion. Steel Dynamics had a net margin of 13.04% and a return on equity of 29.49%. The company's quarterly revenue was down 12.3% compared to the same quarter last year. During the same quarter last year, the company earned $4.37 EPS. On average, sell-side analysts expect that Steel Dynamics, Inc. will post 11.37 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st will be given a dividend of $0.46 per share. The ex-dividend date is Wednesday, March 27th. This is a positive change from Steel Dynamics's previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.25%. Steel Dynamics's payout ratio is 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.