Steel Dynamics, Inc. (NASDAQ:STLD) Holdings Decreased by PBMares Wealth Management LLC

PBMares Wealth Management LLC reduced its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 38.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 28,722 shares of the basic materials company's stock after selling 18,140 shares during the quarter. Steel Dynamics makes up 1.0% of PBMares Wealth Management LLC's portfolio, making the stock its 20th biggest holding. PBMares Wealth Management LLC's holdings in Steel Dynamics were worth $3,392,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. CVA Family Office LLC acquired a new position in Steel Dynamics in the fourth quarter valued at $28,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Steel Dynamics during the fourth quarter worth about $29,000. Wellington Shields & Co. LLC increased its stake in 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 acquiring an additional 100 shares during the last quarter. Clearstead Advisors LLC acquired a new stake in Steel Dynamics during the third quarter worth about $35,000. Finally, Clear Street Markets LLC increased its stake 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 last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Stock Down 0.8 %

Shares of NASDAQ STLD traded down $1.12 on Tuesday, hitting $146.73. The company had a trading volume of 822,988 shares, compared to its average volume of 1,184,184. Steel Dynamics, Inc. has a 12-month low of $90.55 and a 12-month high of $151.34. The business has a 50 day moving average of $133.30 and a two-hundred day moving average of $119.63. The company has a quick ratio of 1.67, a current ratio of 2.91 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $23.18 billion, a P/E ratio of 10.06 and a beta of 1.42.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued 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 net margin of 13.04% and a return on equity of 29.49%. The business had revenue of $4.23 billion for the quarter, compared to analyst estimates of $4.22 billion. During the same quarter last year, the business earned $4.37 EPS. Steel Dynamics's revenue for the quarter was down 12.3% compared to the same quarter last year. As a group, equities research analysts forecast that Steel Dynamics, Inc. will post 11.37 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st will be paid a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a yield of 1.25%. The ex-dividend date of this dividend is Wednesday, March 27th. This is a positive change from Steel Dynamics's previous quarterly dividend of $0.43. Steel Dynamics's dividend payout ratio (DPR) is 12.61%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. UBS Group dropped their price target 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. BMO Capital Markets upped their price target 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. JPMorgan Chase & Co. upped their target price 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, Citigroup upped their target price on 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 issued a hold rating and two have assigned a buy rating to the company's stock. According to MarketBeat, Steel Dynamics currently has a consensus rating of "Hold" and an average price target of $117.43.

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.