Mach 1 Financial Group LLC Makes New Investment in Steel Dynamics, Inc. (NASDAQ:STLD)

Mach 1 Financial Group LLC bought a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 2,040 shares of the basic materials company’s stock, valued at approximately $241,000.

Several other institutional investors and hedge funds have also modified their holdings of STLD. Kestra Private Wealth Services LLC lifted its holdings in shares of Steel Dynamics by 30.4% during the 4th quarter. Kestra Private Wealth Services LLC now owns 3,397 shares of the basic materials company’s stock valued at $401,000 after buying an additional 792 shares during the last quarter. Paradiem LLC grew its position in shares of Steel Dynamics by 28.1% in the fourth quarter. Paradiem LLC now owns 64,039 shares of the basic materials company’s stock valued at $7,563,000 after purchasing an additional 14,048 shares during the last quarter. Headlands Technologies LLC bought a new position in shares of Steel Dynamics in the fourth quarter worth about $134,000. Spinnaker Trust boosted its stake in Steel Dynamics by 6.0% during the 4th quarter. Spinnaker Trust now owns 55,911 shares of the basic materials company’s stock valued at $6,603,000 after purchasing an additional 3,167 shares during the period. Finally, Disciplined Equity Management Inc. acquired a new stake in shares of Steel Dynamics during the 4th quarter worth approximately $354,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Steel Dynamics Price Performance

NASDAQ:STLD opened at $129.65 on Thursday. The company’s 50-day moving average price is $137.78 and its two-hundred day moving average price is $122.83. 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 12 month low of $90.55 and a 12 month high of $151.34. The firm has a market cap of $20.48 billion, a PE ratio of 8.90 and a beta of 1.47.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The firm had revenue of $4.69 billion during the quarter, compared to analyst estimates of $4.74 billion. During the same period in the prior year, the business earned $4.01 EPS. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, equities analysts anticipate that Steel Dynamics, Inc. will post 12.41 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, April 14th. Shareholders of record on Sunday, March 31st were paid a $0.46 dividend. This is a boost 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 yield of 1.42%. Steel Dynamics’s payout ratio is presently 12.64%.

Analysts Set New Price Targets

Several research analysts recently commented on the company. UBS Group reduced their target price on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a research report on Wednesday, January 24th. JPMorgan Chase & Co. upped their target price on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. BMO Capital Markets raised their price target on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research note on Monday, March 18th. Finally, Citigroup upped their price objective on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has issued a buy rating to the stock. Based on data from MarketBeat.com, Steel Dynamics has a consensus rating of “Hold” and a consensus price target of $121.17.

About Steel Dynamics

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.