Laffer Tengler Investments Inc. Has $6.71 Million Stake in Steel Dynamics, Inc. $STLD

Laffer Tengler Investments Inc. raised its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 19.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 48,138 shares of the basic materials company’s stock after acquiring an additional 7,907 shares during the quarter. Laffer Tengler Investments Inc.’s holdings in Steel Dynamics were worth $6,712,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. NewEdge Advisors LLC lifted its stake in Steel Dynamics by 307.5% in the 1st quarter. NewEdge Advisors LLC now owns 819 shares of the basic materials company’s stock valued at $102,000 after purchasing an additional 618 shares during the last quarter. Acadian Asset Management LLC increased its position in Steel Dynamics by 82.7% during the first quarter. Acadian Asset Management LLC now owns 3,485 shares of the basic materials company’s stock worth $435,000 after buying an additional 1,578 shares during the last quarter. Bessemer Group Inc. raised its stake in Steel Dynamics by 10.4% in the second quarter. Bessemer Group Inc. now owns 1,258 shares of the basic materials company’s stock valued at $161,000 after buying an additional 119 shares during the period. Arkadios Wealth Advisors acquired a new stake in shares of Steel Dynamics in the second quarter valued at approximately $283,000. Finally, Resona Asset Management Co. Ltd. lifted its position in shares of Steel Dynamics by 6.2% in the second quarter. Resona Asset Management Co. Ltd. now owns 48,964 shares of the basic materials company’s stock valued at $6,293,000 after buying an additional 2,860 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on STLD. Wells Fargo & Company increased their price target on Steel Dynamics from $190.00 to $210.00 and gave the company an “overweight” rating in a research note on Monday. JPMorgan Chase & Co. upped their price objective on shares of Steel Dynamics from $165.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, December 5th. Weiss Ratings reissued a “hold (c+)” rating on shares of Steel Dynamics in a research report on Monday, December 29th. UBS Group set a $165.00 target price on shares of Steel Dynamics in a research note on Tuesday, November 4th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $190.00 target price on shares of Steel Dynamics in a report on Wednesday, January 7th. Five equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Steel Dynamics has a consensus rating of “Moderate Buy” and a consensus price target of $184.22.

Steel Dynamics Trading Down 2.0%

STLD stock opened at $197.45 on Wednesday. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $208.47. The company has a market capitalization of $28.61 billion, a PE ratio of 24.65, a price-to-earnings-growth ratio of 0.54 and a beta of 1.43. The company’s 50-day simple moving average is $183.30 and its 200 day simple moving average is $161.27. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.29 and a current ratio of 3.06.

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

Steel Dynamics Increases Dividend

The business also recently declared 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 an increase from Steel Dynamics’s previous quarterly dividend of $0.50. This represents a $2.12 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Tuesday, March 31st. Steel Dynamics’s dividend payout ratio (DPR) is currently 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.