Wright Investors Service Inc. Sells 447 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Wright Investors Service Inc. trimmed its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 6.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 6,540 shares of the basic materials company’s stock after selling 447 shares during the period. Wright Investors Service Inc.’s holdings in Steel Dynamics were worth $772,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. CVA Family Office LLC purchased a new position in Steel Dynamics in the fourth quarter valued at about $28,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Steel Dynamics during the 4th quarter valued at approximately $29,000. Wellington Shields & Co. LLC lifted its stake in shares of Steel Dynamics by 50.0% during the 4th quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock valued at $29,000 after buying an additional 100 shares in the last quarter. Clearstead Advisors LLC purchased a new stake in shares of Steel Dynamics during the 3rd quarter valued at approximately $35,000. Finally, Clear Street Markets LLC lifted its stake in shares of Steel Dynamics by 94.0% during the 1st quarter. Clear Street Markets LLC now owns 326 shares of the basic materials company’s stock valued at $37,000 after buying an additional 158 shares in the last quarter. 82.41% of the stock is owned by institutional investors.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $136.07 on Friday. The company’s fifty day moving average price is $135.97 and its 200-day moving average price is $121.15. The firm has a market capitalization of $21.49 billion, a price-to-earnings ratio of 9.33 and a beta of 1.42. Steel Dynamics, Inc. has a one year low of $90.55 and a one year high of $151.34. The company has a debt-to-equity ratio of 0.30, a current ratio of 2.91 and a quick ratio of 1.67.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Tuesday, January 23rd. The basic materials company reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.02). The company had revenue of $4.23 billion during the quarter, compared to the consensus estimate of $4.22 billion. Steel Dynamics had a return on equity of 29.49% and a net margin of 13.04%. Steel Dynamics’s quarterly revenue was down 12.3% on a year-over-year basis. During the same period in the previous year, the company earned $4.37 EPS. On average, equities research analysts anticipate that Steel Dynamics, Inc. will post 11.79 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were issued a dividend of $0.46 per share. The ex-dividend date was Wednesday, March 27th. This represents a $1.84 annualized dividend and a dividend yield of 1.35%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. Steel Dynamics’s dividend payout ratio (DPR) is currently 12.61%.

Wall Street Analysts Forecast Growth

STLD has been the topic of several recent analyst reports. Citigroup increased their target price on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research note on Wednesday, March 13th. JPMorgan Chase & Co. increased their target price on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research note on Tuesday. BMO Capital Markets increased 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 note on Monday, March 18th. Finally, UBS Group lowered their target price on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and a consensus price target 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.