VCI Wealth Management LLC Purchases 2,677 Shares of Steel Dynamics, Inc. $STLD

VCI Wealth Management LLC boosted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 39.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 9,540 shares of the basic materials company’s stock after purchasing an additional 2,677 shares during the quarter. VCI Wealth Management LLC’s holdings in Steel Dynamics were worth $1,617,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Security Financial Services INC. boosted its stake in Steel Dynamics by 10.5% in the fourth quarter. Security Financial Services INC. now owns 5,165 shares of the basic materials company’s stock valued at $875,000 after acquiring an additional 490 shares during the last quarter. Asset Management One Co. Ltd. boosted its position in shares of Steel Dynamics by 0.7% in the 4th quarter. Asset Management One Co. Ltd. now owns 57,641 shares of the basic materials company’s stock worth $9,962,000 after purchasing an additional 393 shares during the last quarter. Ninety One UK Ltd grew its stake in shares of Steel Dynamics by 11.9% during the fourth quarter. Ninety One UK Ltd now owns 134,186 shares of the basic materials company’s stock worth $22,738,000 after purchasing an additional 14,323 shares during the period. Merit Financial Group LLC increased its holdings in Steel Dynamics by 3.5% in the fourth quarter. Merit Financial Group LLC now owns 8,462 shares of the basic materials company’s stock valued at $1,434,000 after purchasing an additional 290 shares during the last quarter. Finally, Wright Investors Service Inc. lifted its stake in Steel Dynamics by 1.2% in the fourth quarter. Wright Investors Service Inc. now owns 5,555 shares of the basic materials company’s stock valued at $941,000 after buying an additional 64 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on Steel Dynamics from $192.00 to $205.00 and gave the stock a “neutral” rating in a research report on Tuesday, April 14th. Wall Street Zen raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday. KeyCorp started coverage on shares of Steel Dynamics in a research report on Wednesday, March 25th. They set an “overweight” rating and a $190.00 price target on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. Finally, Morgan Stanley reissued an “underperform” rating and issued a $190.00 target price on shares of Steel Dynamics in a research note on Tuesday, March 17th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $185.11.

Steel Dynamics Stock Up 2.3%

Shares of Steel Dynamics stock traded up $4.57 on Friday, hitting $200.32. The company had a trading volume of 1,206,534 shares, compared to its average volume of 1,052,950. The stock has a 50-day moving average of $185.69 and a 200-day moving average of $171.97. The company has a debt-to-equity ratio of 0.48, a current ratio of 3.06 and a quick ratio of 1.29. Steel Dynamics, Inc. has a twelve month low of $112.72 and a twelve month high of $208.47. The firm has a market capitalization of $28.99 billion, a P/E ratio of 25.01, a P/E/G ratio of 0.52 and a beta of 1.39.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, January 27th. The basic materials company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.72 by $0.10. The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.62 billion. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The firm’s quarterly revenue was up 14.0% on a year-over-year basis. During the same period last year, the business posted $1.36 earnings per share. Research analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 10th. Investors of record on Tuesday, March 31st were issued a dividend of $0.53 per share. The ex-dividend date was Tuesday, March 31st. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.50. This represents a $2.12 dividend on an annualized basis and a dividend yield of 1.1%. Steel Dynamics’s dividend payout ratio is 26.47%.

Steel Dynamics Company Profile

Steel Dynamics, Inc is a U.S.-based, diversified steel producer and metals recycler that operates an integrated network of mini-mills, finishing lines and fabrication facilities. Founded in 1993 and headquartered in Fort Wayne, Indiana, the company manufactures a broad range of steel products and provides downstream processing, coating and fabrication services to industrial customers. Its operations combine steelmaking using electric-arc furnaces with extensive metals recycling capabilities, allowing Steel Dynamics to convert scrap ferrous and nonferrous materials into finished steel products.

The company’s product portfolio includes flat-rolled steel (coiled and sheet products), structural steel and fabricated components, along with coated and painted steel used in consumer, industrial and construction applications.