Lindbrook Capital LLC Increases Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Lindbrook Capital LLC raised its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 117.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 248 shares of the basic materials company’s stock after purchasing an additional 134 shares during the period. Lindbrook Capital LLC’s holdings in Steel Dynamics were worth $29,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of STLD. Ameriprise Financial Inc. raised its position in Steel Dynamics by 165.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,014,956 shares of the basic materials company’s stock valued at $212,447,000 after purchasing an additional 1,255,751 shares during the last quarter. Assetmark Inc. raised its position in Steel Dynamics by 105.7% during the 3rd quarter. Assetmark Inc. now owns 789,836 shares of the basic materials company’s stock valued at $84,686,000 after purchasing an additional 405,836 shares during the last quarter. Sapient Capital LLC bought a new position in Steel Dynamics during the 4th quarter valued at approximately $38,644,000. Nordea Investment Management AB raised its position in Steel Dynamics by 29.0% during the 3rd quarter. Nordea Investment Management AB now owns 997,827 shares of the basic materials company’s stock valued at $106,139,000 after purchasing an additional 224,226 shares during the last quarter. Finally, ING Groep NV raised its position in Steel Dynamics by 832.8% during the 3rd quarter. ING Groep NV now owns 213,975 shares of the basic materials company’s stock valued at $22,942,000 after purchasing an additional 191,036 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Steel Dynamics stock opened at $134.04 on Friday. The company has a quick ratio of 1.67, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $21.17 billion, a P/E ratio of 9.21 and a beta of 1.42. The stock’s 50 day moving average is $137.39 and its 200 day moving average is $122.28. Steel Dynamics, Inc. has a twelve month low of $90.55 and a twelve month high of $151.34.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, topping the consensus estimate of $3.54 by $0.13. The company had revenue of $4.69 billion for the quarter, compared to the consensus estimate of $4.74 billion. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.01 EPS. On average, equities research analysts predict 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. Shareholders of record on Sunday, March 31st were paid a dividend of $0.46 per share. This represents a $1.84 annualized dividend 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 Analyst Weigh In

A number of research analysts have weighed in on the company. Citigroup upped their target price on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. JPMorgan Chase & Co. upped their target price on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. BMO Capital Markets upped 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, UBS Group reduced their target price on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus 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.