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

VCI Wealth Management LLC boosted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 39.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,540 shares of the basic materials company’s stock after purchasing an additional 2,677 shares during the period. 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.

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on STLD. Weiss Ratings reiterated a “hold (c+)” rating on shares of Steel Dynamics in a research note on Monday, December 29th. Jefferies Financial Group restated a “buy” rating on shares of Steel Dynamics in a report on Tuesday, March 17th. Wall Street Zen upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Saturday. Wells Fargo & Company boosted their price objective on shares of Steel Dynamics from $196.00 to $207.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, Morgan Stanley reaffirmed an “underperform” rating and issued a $190.00 target price on shares of Steel Dynamics in a report on Tuesday, March 17th. Five equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $185.11.

Steel Dynamics Stock Performance

Shares of STLD traded up $4.57 during trading hours 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 business has a fifty day moving average of $185.69 and a 200-day moving average of $171.97. The company has a quick ratio of 1.29, a current ratio of 3.06 and a debt-to-equity ratio of 0.48. The firm has a market cap of $28.99 billion, a price-to-earnings ratio of 25.01, a PEG ratio of 0.52 and a beta of 1.39. Steel Dynamics, Inc. has a 12 month low of $112.72 and a 12 month high of $208.47.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, January 27th. The basic materials company reported $1.82 EPS for the quarter, beating 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%. Steel Dynamics’s quarterly revenue was up 14.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.36 EPS. Equities analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st were given a $0.53 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a dividend yield of 1.1%. Steel Dynamics’s dividend payout ratio (DPR) is currently 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.