Spinnaker Trust Purchases 3,167 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Spinnaker Trust lifted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 6.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 55,911 shares of the basic materials company’s stock after buying an additional 3,167 shares during the quarter. Spinnaker Trust’s holdings in Steel Dynamics were worth $6,603,000 as of its most recent filing with the Securities and Exchange Commission.

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

Steel Dynamics Stock Up 0.8 %

Steel Dynamics stock traded up $1.01 during midday trading on Friday, reaching $134.04. The stock had a trading volume of 1,053,963 shares, compared to its average volume of 1,200,926. The stock has a market capitalization of $21.17 billion, a P/E ratio of 9.21 and a beta of 1.42. The firm’s fifty day simple moving average is $137.39 and its 200-day simple moving average is $122.28. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.67 and a current ratio of 2.87. Steel Dynamics, Inc. has a 1-year low of $90.55 and a 1-year high of $151.34.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $3.54 by $0.13. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter last year, the firm earned $4.01 earnings per share. The firm’s revenue for the quarter was down 4.1% compared to the same quarter last year. As a group, analysts expect that Steel Dynamics, Inc. will post 11.79 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st were paid a $0.46 dividend. This represents a $1.84 dividend on an annualized basis and a yield of 1.37%. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio (DPR) is currently 12.64%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on STLD shares. UBS Group cut 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 note on Wednesday, January 24th. JPMorgan Chase & Co. boosted their price objective on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. BMO Capital Markets increased their target price on Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Monday, March 18th. Finally, Citigroup lifted their price target on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company’s stock. Based on data from MarketBeat.com, Steel Dynamics has an average rating of “Hold” and an average price target of $121.17.

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.