Affinity Wealth Management Buys Shares of 7,626 Steel Dynamics, Inc. (STLD)
Affinity Wealth Management bought a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 7,626 shares of the basic materials company’s stock, valued at approximately $265,000.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC boosted its position in Steel Dynamics by 3,458.0% in the fourth quarter. Genovese Burford & Brothers Wealth & Retirement Plan Management LLC now owns 99,624 shares of the basic materials company’s stock worth $100,000 after buying an additional 96,824 shares in the last quarter. DekaBank Deutsche Girozentrale boosted its position in Steel Dynamics by 181.0% in the third quarter. DekaBank Deutsche Girozentrale now owns 4,496 shares of the basic materials company’s stock worth $113,000 after buying an additional 2,896 shares in the last quarter. Seven Eight Capital LP acquired a new position in Steel Dynamics during the fourth quarter worth about $141,000. Ancora Advisors LLC acquired a new position in Steel Dynamics during the fourth quarter worth about $146,000. Finally, Acrospire Investment Management LLC boosted its position in Steel Dynamics by 33.3% in the third quarter. Acrospire Investment Management LLC now owns 7,599 shares of the basic materials company’s stock worth $190,000 after buying an additional 1,900 shares in the last quarter. Hedge funds and other institutional investors own 79.46% of the company’s stock.
Shares of Steel Dynamics, Inc. (NASDAQ:STLD) traded down 0.27% during mid-day trading on Tuesday, reaching $32.65. The company had a trading volume of 1,519,669 shares. Steel Dynamics, Inc. has a 12-month low of $22.62 and a 12-month high of $40.17. The firm has a market capitalization of $7.91 billion, a PE ratio of 20.93 and a beta of 1.35. The stock has a 50 day moving average price of $34.89 and a 200 day moving average price of $33.53.
Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, January 24th. The basic materials company reported $0.43 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.43. Steel Dynamics had a net margin of 4.91% and a return on equity of 17.30%. The business had revenue of $1.91 billion for the quarter, compared to the consensus estimate of $1.88 billion. During the same quarter last year, the firm posted $0.09 EPS. The business’s revenue for the quarter was up 20.1% compared to the same quarter last year. On average, equities analysts forecast that Steel Dynamics, Inc. will post $2.75 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 10th. Stockholders of record on Friday, March 31st were paid a $0.155 dividend. This represents a $0.62 dividend on an annualized basis and a dividend yield of 1.89%. The ex-dividend date of this dividend was Wednesday, March 29th. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.14. Steel Dynamics’s dividend payout ratio (DPR) is currently 35.90%.
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A number of research analysts have issued reports on STLD shares. BMO Capital Markets reiterated a “buy” rating and issued a $48.00 target price on shares of Steel Dynamics in a research report on Wednesday, March 22nd. Deutsche Bank AG lifted their target price on Steel Dynamics from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, March 21st. Barclays PLC set a $40.00 target price on Steel Dynamics and gave the company a “buy” rating in a research report on Sunday, January 29th. Citigroup Inc reiterated a “buy” rating and issued a $43.00 target price (up previously from $30.00) on shares of Steel Dynamics in a research report on Friday, January 20th. Finally, Zacks Investment Research upgraded Steel Dynamics from a “hold” rating to a “buy” rating and set a $41.00 target price on the stock in a research report on Tuesday, December 27th. Six equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus price target of $36.74.
In related news, Director Richard P. Teets, Jr. sold 140,295 shares of Steel Dynamics stock in a transaction on Thursday, March 16th. The shares were sold at an average price of $35.64, for a total transaction of $5,000,113.80. Following the sale, the director now owns 5,042,939 shares of the company’s stock, valued at approximately $179,730,345.96. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 4.10% of the company’s stock.
About Steel Dynamics
Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.
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