6,908 Shares in Steel Dynamics, Inc. $STLD Acquired by Econ Financial Services Corp

Econ Financial Services Corp bought a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,908 shares of the basic materials company’s stock, valued at approximately $1,171,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Cornerstone Planning Group LLC increased its position in shares of Steel Dynamics by 1,636.4% during the third quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 180 shares in the last quarter. Toth Financial Advisory Corp lifted its holdings in shares of Steel Dynamics by 50.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock valued at $42,000 after purchasing an additional 100 shares during the last quarter. Covestor Ltd boosted its position in shares of Steel Dynamics by 44.3% in the 3rd quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock worth $42,000 after purchasing an additional 93 shares in the last quarter. CNB Bank acquired a new stake in shares of Steel Dynamics in the 3rd quarter worth $43,000. Finally, Measured Wealth Private Client Group LLC purchased a new position in Steel Dynamics during the 3rd quarter worth $46,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the company. Jefferies Financial Group reaffirmed a “buy” rating on shares of Steel Dynamics in a research report on Tuesday, March 17th. Wells Fargo & Company dropped their price target on Steel Dynamics from $210.00 to $196.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 18th. JPMorgan Chase & Co. cut their price objective on shares of Steel Dynamics from $194.00 to $192.00 and set a “neutral” rating on the stock in a report on Wednesday, March 18th. Morgan Stanley reaffirmed an “underperform” rating and issued a $190.00 price objective on shares of Steel Dynamics in a research report on Tuesday, March 17th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a research note on Monday, December 29th. Five investment analysts have rated the stock with a Buy rating, four have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $182.44.

Steel Dynamics Stock Performance

STLD opened at $180.00 on Wednesday. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $208.47. The company has a current ratio of 3.06, a quick ratio of 1.29 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $26.05 billion, a PE ratio of 22.47, a P/E/G ratio of 0.47 and a beta of 1.43. The firm has a 50 day moving average of $184.74 and a two-hundred day moving average of $167.60.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, January 27th. The basic materials company reported $1.82 EPS for the quarter, beating the consensus estimate of $1.72 by $0.10. The business had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.62 billion. Steel Dynamics had a net margin of 6.52% and a return on equity of 13.56%. The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same period in the previous year, the business posted $1.36 EPS. On average, analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 10th. Investors of record on Tuesday, March 31st will be given a dividend of $0.53 per share. 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 yield of 1.2%. The ex-dividend date is Tuesday, March 31st. Steel Dynamics’s payout ratio is presently 24.97%.

Steel Dynamics 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.