TriaGen Wealth Management LLC Purchases New Shares in Steel Dynamics, Inc. $STLD
by Jessica Moore · The Cerbat GemTriaGen Wealth Management LLC acquired a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD – Free Report) during the fourth quarter, HoldingsChannel reports. The fund acquired 12,017 shares of the basic materials company’s stock, valued at approximately $2,036,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Cornerstone Planning Group LLC increased its position in shares of Steel Dynamics by 1,636.4% during the third quarter. Cornerstone Planning Group LLC now owns 191 shares of the basic materials company’s stock valued at $27,000 after buying an additional 180 shares during the period. Sound Income Strategies LLC lifted its holdings in Steel Dynamics by 1,500.0% in the fourth quarter. Sound Income Strategies LLC now owns 160 shares of the basic materials company’s stock worth $28,000 after buying an additional 150 shares during the period. Toth Financial Advisory Corp boosted its position in Steel Dynamics by 50.0% during the 3rd quarter. Toth Financial Advisory Corp now owns 300 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 100 shares in the last quarter. Covestor Ltd boosted its position in Steel Dynamics by 44.3% during the 3rd quarter. Covestor Ltd now owns 303 shares of the basic materials company’s stock valued at $42,000 after acquiring an additional 93 shares in the last quarter. Finally, CNB Bank purchased a new position in shares of Steel Dynamics during the 3rd quarter worth approximately $43,000. 82.41% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
STLD has been the subject of several research reports. Jefferies Financial Group reissued a “buy” rating on shares of Steel Dynamics in a research report on Tuesday, March 17th. Wells Fargo & Company increased their price objective on Steel Dynamics from $196.00 to $207.00 and gave the stock an “overweight” rating in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $192.00 to $205.00 and gave the company a “neutral” rating in a research report on Tuesday, April 14th. Wall Street Zen upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating in a report on Saturday. Finally, KeyCorp initiated coverage on shares of Steel Dynamics in a research report on Wednesday, March 25th. They issued an “overweight” rating and a $190.00 target price on the stock. Five equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $185.11.
Read Our Latest Research Report on STLD
Steel Dynamics Stock Performance
Steel Dynamics stock opened at $200.32 on Monday. The company has a quick ratio of 1.29, a current ratio of 3.06 and a debt-to-equity ratio of 0.48. The company has a market capitalization of $28.99 billion, a P/E ratio of 25.01, a PEG ratio of 0.53 and a beta of 1.39. The stock’s 50 day moving average is $185.69 and its 200 day moving average is $172.19. Steel Dynamics, Inc. has a twelve month low of $112.72 and a twelve month high of $208.47.
Steel Dynamics (NASDAQ:STLD – Get Free Report) last posted its quarterly earnings data on Tuesday, January 27th. The basic materials company reported $1.82 earnings per share for the quarter, beating analysts’ consensus estimates of $1.72 by $0.10. Steel Dynamics had a return on equity of 13.56% and a net margin of 6.52%.The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.62 billion. During the same quarter last year, the company earned $1.36 EPS. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. On average, equities research analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.
Steel Dynamics Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, April 10th. Stockholders of record on Tuesday, March 31st were issued a dividend of $0.53 per share. The ex-dividend date was Tuesday, March 31st. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.50. This represents a $2.12 annualized dividend and a dividend yield of 1.1%. Steel Dynamics’s dividend payout ratio is 26.47%.
Steel Dynamics Company 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.
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