Steel Dynamics, Inc. (NASDAQ:STLD) Stock Position Raised by Westover Capital Advisors LLC

Westover Capital Advisors LLC lifted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 121.8% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 11,857 shares of the basic materials company’s stock after purchasing an additional 6,510 shares during the quarter. Westover Capital Advisors LLC’s holdings in Steel Dynamics were worth $1,400,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. CVA Family Office LLC bought a new stake in shares of Steel Dynamics during the 4th quarter valued at about $28,000. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Steel Dynamics during the 4th quarter valued at about $29,000. Lindbrook Capital LLC grew its position in shares of Steel Dynamics by 117.5% during the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock valued at $29,000 after buying an additional 134 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in shares of Steel Dynamics during the 4th quarter valued at about $44,000. Finally, Denali Advisors LLC grew its position in shares of Steel Dynamics by 99.0% during the 4th quarter. Denali Advisors LLC now owns 406 shares of the basic materials company’s stock valued at $48,000 after buying an additional 202 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on STLD shares. Citigroup upped their target price on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. UBS Group decreased their target price on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a research report on Wednesday, January 24th. BMO Capital Markets upped their target price on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, March 18th. Finally, JPMorgan Chase & Co. upped their target price on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research report on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and a consensus target price of $121.17.

Steel Dynamics Price Performance

Shares of Steel Dynamics stock traded up $0.79 on Thursday, hitting $130.44. The company had a trading volume of 696,171 shares, compared to its average volume of 1,190,868. The business has a 50-day simple moving average of $137.93 and a 200-day simple moving average of $122.88. The company has a debt-to-equity ratio of 0.29, a current ratio of 2.87 and a quick ratio of 1.55. The company has a market cap of $20.60 billion, a PE ratio of 8.90 and a beta of 1.47. Steel Dynamics, Inc. has a 52 week low of $90.55 and a 52 week high of $151.34.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.54 by $0.13. The business had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The business’s revenue was down 4.1% on a year-over-year basis. During the same period last year, the firm posted $4.01 earnings per share. Research analysts expect that Steel Dynamics, Inc. will post 12.41 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were issued a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a dividend yield of 1.41%. Steel Dynamics’s dividend payout ratio (DPR) is 12.64%.

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.