Stablepoint Partners LLC Buys 288 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Stablepoint Partners LLC increased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 3.1% during the 3rd quarter, Holdings Channel.com reports. The firm owned 9,644 shares of the basic materials company’s stock after acquiring an additional 288 shares during the quarter. Stablepoint Partners LLC’s holdings in Steel Dynamics were worth $1,216,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of STLD. Quarry LP grew its stake in shares of Steel Dynamics by 583.9% during the fourth quarter. Quarry LP now owns 383 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 327 shares during the last quarter. V Square Quantitative Management LLC boosted its stake in Steel Dynamics by 23.6% in the fourth quarter. V Square Quantitative Management LLC now owns 3,677 shares of the basic materials company’s stock valued at $434,000 after acquiring an additional 702 shares during the last quarter. Sierra Summit Advisors LLC bought a new position in Steel Dynamics in the fourth quarter valued at approximately $227,000. Integrated Advisors Network LLC bought a new position in Steel Dynamics in the fourth quarter valued at approximately $447,000. Finally, Fisher Asset Management LLC boosted its stake in Steel Dynamics by 6.1% in the fourth quarter. Fisher Asset Management LLC now owns 60,833 shares of the basic materials company’s stock valued at $7,184,000 after acquiring an additional 3,494 shares during the last quarter. 82.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on STLD. Morgan Stanley reduced 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 research note on Wednesday, September 18th. BMO Capital Markets raised their price objective on shares of Steel Dynamics from $127.00 to $130.00 and gave the company a “market perform” rating in a research note on Thursday. 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 research report on Tuesday, September 3rd. JPMorgan Chase & Co. reduced their price target on shares of Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Finally, Bank of America raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $140.00 to $155.00 in a research report on Tuesday, October 1st. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and a consensus target price of $142.86.

Steel Dynamics Stock Down 0.4 %

STLD traded down $0.55 during trading on Monday, hitting $129.31. The company had a trading volume of 37,528 shares, compared to its average volume of 1,256,077. The company has a market capitalization of $19.95 billion, a PE ratio of 10.41 and a beta of 1.31. Steel Dynamics, Inc. has a one year low of $98.25 and a one year high of $151.34. The firm’s 50-day moving average price is $119.64 and its 200 day moving average price is $127.80. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 EPS 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 firm had revenue of $4.63 billion for the quarter, compared to analysts’ expectations of $4.43 billion. During the same period in the previous year, the firm posted $4.81 EPS. The company’s revenue for the quarter was down 8.8% on a year-over-year basis. As a group, equities analysts expect that Steel Dynamics, Inc. will post 10.15 earnings per share for the current year.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 11th. Stockholders of record on Monday, September 30th were paid a dividend of $0.46 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $1.84 annualized dividend and a dividend yield of 1.42%. Steel Dynamics’s dividend payout ratio is presently 14.76%.

Steel Dynamics Profile

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.