Entropy Technologies LP Buys 32,876 Shares of Steel Dynamics, Inc. $STLD

Entropy Technologies LP grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1,979.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,537 shares of the basic materials company’s stock after purchasing an additional 32,876 shares during the period. Entropy Technologies LP’s holdings in Steel Dynamics were worth $4,815,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cornerstone Planning Group LLC lifted its holdings in Steel Dynamics by 1,636.4% in the third quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock worth $27,000 after buying an additional 180 shares during the period. Toth Financial Advisory Corp grew its holdings in shares of Steel Dynamics by 50.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 100 shares during the period. Covestor Ltd raised its position in shares of Steel Dynamics by 44.3% in the 3rd quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock worth $42,000 after acquiring an additional 93 shares in the last quarter. CNB Bank bought a new position in shares of Steel Dynamics in the 3rd quarter worth approximately $43,000. Finally, Root Financial Partners LLC purchased a new position in shares of Steel Dynamics in the 3rd quarter valued at approximately $48,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Down 5.0%

STLD stock opened at $175.10 on Friday. The business has a 50 day moving average of $184.92 and a 200 day moving average of $163.56. The firm has a market cap of $25.37 billion, a PE ratio of 21.86, a price-to-earnings-growth ratio of 0.50 and a beta of 1.43. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $208.47. The company has a quick ratio of 1.29, a current ratio of 3.06 and a debt-to-equity ratio of 0.48.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, January 27th. The basic materials company reported $1.82 EPS for the quarter, topping the consensus estimate of $1.72 by $0.10. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.The business had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.62 billion. During the same period in the previous year, the company posted $1.36 earnings per share. The company’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Tuesday, March 31st will be given a dividend of $0.53 per share. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $2.12 annualized dividend and a yield of 1.2%. Steel Dynamics’s payout ratio is currently 24.97%.

Analysts Set New Price Targets

STLD has been the topic of several research reports. Jefferies Financial Group lifted their price target on Steel Dynamics from $180.00 to $190.00 and gave the company a “buy” rating in a research report on Wednesday, December 10th. Wells Fargo & Company raised their price objective on Steel Dynamics from $190.00 to $210.00 and gave the company an “overweight” rating in a research report on Monday, March 2nd. Morgan Stanley restated an “equal weight” rating and set a $194.00 target price (up from $173.00) on shares of Steel Dynamics in a report on Friday, January 9th. Wall Street Zen downgraded shares of Steel Dynamics from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 7th. Finally, JPMorgan Chase & Co. increased their price target on shares of Steel Dynamics from $165.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, December 5th. Five investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Steel Dynamics presently has a consensus rating of “Moderate Buy” and an average target price of $184.22.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.