Steel Dynamics, Inc. (NASDAQ:STLD) Position Increased by Empirical Financial Services LLC d.b.a. Empirical Wealth Management

Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 12.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,289 shares of the basic materials company’s stock after buying an additional 2,085 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management’s holdings in Steel Dynamics were worth $2,160,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Royal London Asset Management Ltd. grew its holdings in shares of Steel Dynamics by 0.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 3,745,326 shares of the basic materials company’s stock worth $401,574,000 after acquiring an additional 12,208 shares during the last quarter. Morgan Stanley increased its stake in Steel Dynamics by 0.8% in the 3rd quarter. Morgan Stanley now owns 2,612,430 shares of the basic materials company’s stock worth $280,105,000 after purchasing an additional 19,833 shares in the last quarter. Northern Trust Corp raised its holdings in Steel Dynamics by 6.4% during the 3rd quarter. Northern Trust Corp now owns 2,024,978 shares of the basic materials company’s stock worth $217,118,000 after buying an additional 122,507 shares during the period. Ameriprise Financial Inc. lifted its stake in Steel Dynamics by 165.4% during the third quarter. Ameriprise Financial Inc. now owns 2,014,956 shares of the basic materials company’s stock valued at $212,447,000 after buying an additional 1,255,751 shares in the last quarter. Finally, Nordea Investment Management AB boosted its holdings in shares of Steel Dynamics by 1.1% in the fourth quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company’s stock worth $118,787,000 after buying an additional 11,026 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on STLD. Citigroup boosted their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, March 13th. BMO Capital Markets increased their target price on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a report on Monday, March 18th. UBS Group lowered their price target on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. Finally, JPMorgan Chase & Co. increased their price objective on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research note on Tuesday, April 16th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $121.17.

Steel Dynamics Stock Up 0.1 %

Shares of NASDAQ:STLD traded up $0.11 during trading on Tuesday, reaching $132.71. 1,054,204 shares of the company traded hands, compared to its average volume of 1,202,411. The firm has a fifty day simple moving average of $138.25 and a 200 day simple moving average of $123.64. The company has a quick ratio of 1.55, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. Steel Dynamics, Inc. has a 1-year low of $90.55 and a 1-year high of $151.34. The firm has a market cap of $20.96 billion, a P/E ratio of 9.11 and a beta of 1.47.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.54 by $0.13. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter last year, the firm earned $4.01 earnings per share. The business’s revenue for the quarter was down 4.1% on a year-over-year basis. Analysts anticipate that Steel Dynamics, Inc. will post 12.76 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were issued a dividend of $0.46 per share. This represents a $1.84 annualized dividend and a dividend yield of 1.39%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 27th. Steel Dynamics’s payout ratio is currently 12.64%.

Steel Dynamics Company 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.