First National Trust Co Sells 1,792 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

First National Trust Co cut its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 17.2% in the 4th quarter, HoldingsChannel.com reports. The firm owned 8,652 shares of the basic materials company’s stock after selling 1,792 shares during the period. First National Trust Co’s holdings in Steel Dynamics were worth $1,022,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Sapient Capital LLC bought a new stake in shares of Steel Dynamics in the 4th quarter valued at about $38,750,000. Merit Financial Group LLC lifted its position in Steel Dynamics by 35.0% in the fourth quarter. Merit Financial Group LLC now owns 12,243 shares of the basic materials company’s stock valued at $1,446,000 after purchasing an additional 3,177 shares during the last quarter. Westover Capital Advisors LLC boosted its stake in shares of Steel Dynamics by 121.8% during the fourth quarter. Westover Capital Advisors LLC now owns 11,857 shares of the basic materials company’s stock valued at $1,400,000 after purchasing an additional 6,510 shares during the period. Los Angeles Capital Management LLC bought a new position in shares of Steel Dynamics in the fourth quarter worth approximately $497,000. Finally, Natixis Advisors L.P. increased its stake in shares of Steel Dynamics by 33.9% in the fourth quarter. Natixis Advisors L.P. now owns 36,999 shares of the basic materials company’s stock worth $4,369,000 after buying an additional 9,367 shares during the period. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on STLD. BMO Capital Markets increased their target price on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Monday, March 18th. 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 report on Tuesday, April 16th. Citigroup boosted their target price on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Finally, UBS Group decreased their price target on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a research note on Wednesday, January 24th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat, Steel Dynamics presently has an average rating of “Hold” and a consensus target price of $121.17.

Steel Dynamics Stock Up 3.6 %

Shares of NASDAQ:STLD traded up $4.68 during midday trading on Friday, reaching $135.47. The company’s stock had a trading volume of 1,220,665 shares, compared to its average volume of 1,163,849. The firm has a 50 day moving average of $138.22 and a 200-day moving average of $123.26. Steel Dynamics, Inc. has a 12-month low of $90.55 and a 12-month high of $151.34. The firm has a market capitalization of $21.40 billion, a P/E ratio of 9.30 and a beta of 1.47. 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 (NASDAQ:STLD) last released its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $3.54 by $0.13. The business had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.74 billion. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. Steel Dynamics’s revenue was down 4.1% compared to the same quarter last year. During the same period last year, the business earned $4.01 EPS. On average, research analysts anticipate that Steel Dynamics, Inc. will post 12.76 earnings per share for the current year.

Steel Dynamics Increases Dividend

The firm 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 is an increase from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Wednesday, March 27th. Steel Dynamics’s dividend payout ratio is presently 12.64%.

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.