Deane Retirement Strategies Inc. Invests $2.30 Million in Steel Dynamics, Inc. (STLD) Stock

Deane Retirement Strategies Inc. bought a new position 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 fund bought 53,212 shares of the basic materials company’s stock, valued at approximately $2,295,000. Steel Dynamics comprises 2.1% of Deane Retirement Strategies Inc.’s portfolio, making the stock its 10th largest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. IHT Wealth Management LLC raised its position in shares of Steel Dynamics by 0.7% during the second quarter. IHT Wealth Management LLC now owns 407 shares of the basic materials company’s stock valued at $198,000 after buying an additional 3 shares during the last quarter. Toronto Dominion Bank acquired a new position in shares of Steel Dynamics during the second quarter valued at about $107,000. Steward Partners Investment Advisory LLC acquired a new position in shares of Steel Dynamics during the third quarter valued at about $112,000. Hefty Wealth Partners raised its position in shares of Steel Dynamics by 76.1% during the third quarter. Hefty Wealth Partners now owns 3,417 shares of the basic materials company’s stock valued at $118,000 after buying an additional 1,477 shares during the last quarter. Finally, Cubist Systematic Strategies LLC raised its position in shares of Steel Dynamics by 80.8% during the third quarter. Cubist Systematic Strategies LLC now owns 3,555 shares of the basic materials company’s stock valued at $123,000 after buying an additional 1,589 shares during the last quarter. 83.38% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics, Inc. (NASDAQ:STLD) opened at $45.11 on Wednesday. Steel Dynamics, Inc. has a twelve month low of $32.15 and a twelve month high of $46.32. The firm has a market cap of $10,690.00, a P/E ratio of 20.79, a P/E/G ratio of 1.26 and a beta of 1.40. The company has a quick ratio of 1.95, a current ratio of 3.35 and a debt-to-equity ratio of 0.80.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, October 18th. The basic materials company reported $0.66 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.66. Steel Dynamics had a net margin of 5.79% and a return on equity of 21.45%. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.41 billion. During the same period in the prior year, the business posted $0.64 earnings per share. Steel Dynamics’s revenue was up 16.3% compared to the same quarter last year. equities analysts predict that Steel Dynamics, Inc. will post 2.64 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 10th. Shareholders of record on Sunday, December 31st will be issued a $0.155 dividend. The ex-dividend date is Thursday, December 28th. This represents a $0.62 annualized dividend and a yield of 1.37%. Steel Dynamics’s dividend payout ratio (DPR) is presently 28.57%.

A number of analysts recently weighed in on STLD shares. KeyCorp reissued a “buy” rating and issued a $44.00 target price on shares of Steel Dynamics in a research note on Friday, November 24th. BidaskClub raised shares of Steel Dynamics from a “hold” rating to a “buy” rating in a research note on Tuesday, December 12th. Bank of America upped their target price on shares of Steel Dynamics from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Friday, October 20th. Cowen set a $43.00 target price on shares of Steel Dynamics and gave the company a “buy” rating in a research note on Friday, October 20th. Finally, Citigroup upped their price objective on shares of Steel Dynamics from $41.00 to $42.00 and gave the stock a “buy” rating in a research note on Friday, October 20th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Steel Dynamics currently has a consensus rating of “Buy” and an average price target of $42.64.

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Steel Dynamics Company Profile

Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.

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Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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