3,061 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Bought by NorthRock Partners LLC

NorthRock Partners LLC purchased a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 3,061 shares of the basic materials company’s stock, valued at approximately $349,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC purchased a new position in shares of Steel Dynamics during the 4th quarter valued at about $39,000. Avalon Trust Co purchased a new position in shares of Steel Dynamics during the fourth quarter worth approximately $42,000. Golden State Wealth Management LLC bought a new stake in shares of Steel Dynamics in the 4th quarter worth approximately $48,000. Transamerica Financial Advisors Inc. boosted its stake in shares of Steel Dynamics by 1,400.0% in the 4th quarter. Transamerica Financial Advisors Inc. now owns 450 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 420 shares in the last quarter. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in shares of Steel Dynamics by 38.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 541 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 150 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

STLD has been the subject of several recent research reports. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 price target for the company in a research note on Monday, March 24th. BMO Capital Markets upgraded Steel Dynamics from a “market perform” rating to an “outperform” rating and increased their target price for the company from $135.00 to $145.00 in a report on Monday, March 31st. JPMorgan Chase & Co. lifted their price target on Steel Dynamics from $135.00 to $138.00 and gave the stock a “neutral” rating in a research note on Thursday, April 24th. KeyCorp raised Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a research note on Tuesday, February 11th. Finally, Morgan Stanley set a $140.00 target price on shares of Steel Dynamics and gave the stock an “overweight” rating in a report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $147.44.

Steel Dynamics Price Performance

STLD opened at $134.78 on Friday. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. The stock has a market capitalization of $20.01 billion, a PE ratio of 13.75, a price-to-earnings-growth ratio of 1.05 and a beta of 1.44. The stock’s 50 day moving average price is $124.71 and its 200-day moving average price is $128.20. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.04. Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. The business had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.17 billion. During the same period in the previous year, the firm earned $3.67 EPS. On average, equities research analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.48%. The ex-dividend date of this dividend is Monday, June 30th. Steel Dynamics’s payout ratio is 26.42%.

Steel Dynamics announced that its Board of Directors has authorized a share repurchase plan on Monday, February 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the basic materials company to reacquire up to 7.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

About Steel Dynamics

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.