Fidelis Capital Partners LLC Raises Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Fidelis Capital Partners LLC increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 13.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,976 shares of the basic materials company’s stock after buying an additional 348 shares during the period. Fidelis Capital Partners LLC’s holdings in Steel Dynamics were worth $355,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Jump Financial LLC bought a new position in Steel Dynamics in the fourth quarter worth approximately $271,000. PNC Financial Services Group Inc. lifted its stake in shares of Steel Dynamics by 12.8% during the 4th quarter. PNC Financial Services Group Inc. now owns 16,872 shares of the basic materials company’s stock worth $1,993,000 after purchasing an additional 1,917 shares during the last quarter. UBS Group AG boosted its position in Steel Dynamics by 1.1% during the fourth quarter. UBS Group AG now owns 288,318 shares of the basic materials company’s stock valued at $34,050,000 after purchasing an additional 3,182 shares in the last quarter. D.A. Davidson & CO. grew its stake in Steel Dynamics by 19.1% in the fourth quarter. D.A. Davidson & CO. now owns 9,422 shares of the basic materials company’s stock valued at $1,113,000 after purchasing an additional 1,513 shares during the last quarter. Finally, US Bancorp DE raised its holdings in Steel Dynamics by 9.0% in the fourth quarter. US Bancorp DE now owns 20,879 shares of the basic materials company’s stock worth $2,466,000 after purchasing an additional 1,730 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Stock Up 0.9 %

Shares of STLD stock opened at $120.96 on Tuesday. Steel Dynamics, Inc. has a fifty-two week low of $98.25 and a fifty-two week high of $151.34. The firm has a market capitalization of $19.01 billion, a PE ratio of 8.31 and a beta of 1.32. The company has a debt-to-equity ratio of 0.25, a quick ratio of 1.19 and a current ratio of 2.35. The stock’s 50-day simple moving average is $119.89 and its 200-day simple moving average is $128.93.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, topping the consensus estimate of $2.67 by $0.05. Steel Dynamics had a net margin of 11.10% and a return on equity of 22.89%. The company had revenue of $4.63 billion for the quarter, compared to the consensus estimate of $4.43 billion. During the same quarter in the prior year, the company earned $4.81 EPS. Steel Dynamics’s quarterly revenue was down 8.8% on a year-over-year basis. Equities analysts expect that Steel Dynamics, Inc. will post 10.57 earnings per share for the current year.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 11th. Investors of record on Monday, September 30th will be issued a dividend of $0.46 per share. The ex-dividend date is Monday, September 30th. This represents a $1.84 annualized dividend and a dividend yield of 1.52%. Steel Dynamics’s dividend payout ratio (DPR) is presently 12.64%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. BMO Capital Markets lowered their price target on shares of Steel Dynamics from $135.00 to $127.00 and set a “market perform” rating on the stock in a report on Tuesday, September 17th. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $129.00 to $145.00 in a report on Tuesday, September 3rd. Bank of America reduced their price target on Steel Dynamics from $150.00 to $145.00 and set a “neutral” rating on the stock in a research report on Wednesday, June 26th. JPMorgan Chase & Co. raised Steel Dynamics from an “underweight” rating to a “neutral” rating and raised their price target for the stock from $120.00 to $131.00 in a report on Monday, September 9th. Finally, Morgan Stanley cut their price objective on shares of Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 18th. Six research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $141.29.

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.