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

First National Trust Co lessened its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 17.2% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of STLD. Signaturefd LLC boosted its position in shares of Steel Dynamics by 0.9% during the fourth quarter. Signaturefd LLC now owns 10,698 shares of the basic materials company’s stock worth $1,263,000 after buying an additional 93 shares during the period. Global Retirement Partners LLC boosted its position in Steel Dynamics by 25.8% during the 4th quarter. Global Retirement Partners LLC now owns 478 shares of the basic materials company’s stock worth $53,000 after acquiring an additional 98 shares during the last quarter. Allworth Financial LP grew its stake in shares of Steel Dynamics by 2.2% during the 4th quarter. Allworth Financial LP now owns 4,853 shares of the basic materials company’s stock worth $573,000 after acquiring an additional 103 shares in the last quarter. Greenfield Savings Bank grew its position in shares of Steel Dynamics by 0.9% in the 4th quarter. Greenfield Savings Bank now owns 11,591 shares of the basic materials company’s stock valued at $1,369,000 after acquiring an additional 108 shares during the period. Finally, Knights of Columbus Asset Advisors LLC increased its position in Steel Dynamics by 0.3% during the third quarter. Knights of Columbus Asset Advisors LLC now owns 44,547 shares of the basic materials company’s stock worth $4,776,000 after buying an additional 113 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Stock Performance

Shares of NASDAQ:STLD traded up $4.68 on Friday, reaching $135.47. 1,220,665 shares of the company’s stock were exchanged, compared to its average volume of 1,163,849. Steel Dynamics, Inc. has a twelve month low of $90.55 and a twelve month high of $151.34. The company has a fifty day moving average of $138.22 and a 200-day moving average of $123.26. The company has a market capitalization of $21.40 billion, a price-to-earnings ratio of 9.30 and a beta of 1.47. The company has a current ratio of 2.87, a quick ratio of 1.55 and a debt-to-equity ratio of 0.29.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 EPS 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 the consensus estimate of $4.74 billion. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. Steel Dynamics’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $4.01 earnings per share. On average, research analysts predict that Steel Dynamics, Inc. will post 12.76 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were given a dividend of $0.46 per share. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date was Wednesday, March 27th. This represents a $1.84 annualized dividend and a dividend yield of 1.36%. Steel Dynamics’s dividend payout ratio (DPR) is currently 12.64%.

Wall Street Analysts Forecast Growth

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

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.