Cerity Partners LLC Purchases New Shares in Steel Dynamics, Inc. (NASDAQ:STLD)

Cerity Partners LLC purchased a new stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 63,903 shares of the basic materials company's stock, valued at approximately $7,547,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Global Retirement Partners LLC raised its position in shares of Steel Dynamics by 25.8% during the fourth quarter. Global Retirement Partners LLC now owns 478 shares of the basic materials company's stock worth $53,000 after purchasing an additional 98 shares during the period. Wellington Shields & Co. LLC raised its position 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 purchasing an additional 100 shares during the period. Ronald Blue Trust Inc. raised its position in Steel Dynamics by 7.8% in the 3rd quarter. Ronald Blue Trust Inc. now owns 1,425 shares of the basic materials company's stock valued at $155,000 after buying an additional 103 shares during the last quarter. Allworth Financial LP raised its position in Steel Dynamics by 2.2% in the 4th 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 during the last quarter. Finally, Greenfield Savings Bank raised its position in Steel Dynamics by 0.9% in the 4th 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 during the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Performance

NASDAQ:STLD traded down $1.20 during trading on Tuesday, reaching $139.77. The company's stock had a trading volume of 1,020,165 shares, compared to its average volume of 1,177,489. The firm has a market cap of $22.08 billion, a price-to-earnings ratio of 9.58 and a beta of 1.42. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.67 and a current ratio of 2.91. The firm has a 50 day moving average of $135.46 and a 200-day moving average of $120.92. Steel Dynamics, Inc. has a 12 month low of $90.55 and a 12 month 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 (EPS) for the quarter, missing analysts' consensus estimates of $2.63 by ($0.02). The business had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.22 billion. Steel Dynamics had a net margin of 13.04% and a return on equity of 29.49%. The firm's revenue for the quarter was down 12.3% compared to the same quarter last year. During the same quarter last year, the company earned $4.37 EPS. Research analysts expect that Steel Dynamics, Inc. will post 11.6 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were paid a dividend of $0.46 per share. This is an increase from Steel Dynamics's previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 27th. This represents a $1.84 annualized dividend and a dividend yield of 1.32%. Steel Dynamics's dividend payout ratio is presently 12.61%.

Analyst Ratings Changes

STLD has been the subject of a number of analyst reports. Citigroup increased their price target on Steel Dynamics from $130.00 to $160.00 and gave the company a "buy" rating in a research report on Wednesday, March 13th. UBS Group lowered 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. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $100.00 to $118.00 and gave the company an "underweight" rating in a research report on Tuesday. Finally, BMO Capital Markets increased their price target on Steel Dynamics from $110.00 to $120.00 and gave the company a "market perform" rating in a research report on Monday, March 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $120.29.

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.