Inspire Investing LLC Increases Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Inspire Investing LLC lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 40.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 22,638 shares of the basic materials company’s stock after buying an additional 6,562 shares during the period. Inspire Investing LLC’s holdings in Steel Dynamics were worth $2,854,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Atomi Financial Group Inc. raised its holdings in shares of Steel Dynamics by 3.1% during the 1st quarter. Atomi Financial Group Inc. now owns 2,667 shares of the basic materials company’s stock valued at $395,000 after buying an additional 79 shares in the last quarter. Csenge Advisory Group increased its stake in Steel Dynamics by 2.8% in the 2nd quarter. Csenge Advisory Group now owns 2,939 shares of the basic materials company’s stock worth $381,000 after purchasing an additional 81 shares during the period. Greenfield Savings Bank increased its stake in Steel Dynamics by 0.7% in the 1st quarter. Greenfield Savings Bank now owns 11,676 shares of the basic materials company’s stock worth $1,731,000 after purchasing an additional 85 shares during the period. Dorsey Wright & Associates increased its stake in Steel Dynamics by 0.4% in the 2nd quarter. Dorsey Wright & Associates now owns 23,551 shares of the basic materials company’s stock worth $3,050,000 after purchasing an additional 96 shares during the period. Finally, Stiles Financial Services Inc increased its stake in Steel Dynamics by 0.5% in the 2nd quarter. Stiles Financial Services Inc now owns 18,753 shares of the basic materials company’s stock worth $2,429,000 after purchasing an additional 99 shares during the period. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Trading Up 1.1 %

NASDAQ STLD opened at $129.86 on Friday. The company has a quick ratio of 1.19, a current ratio of 2.35 and a debt-to-equity ratio of 0.25. Steel Dynamics, Inc. has a twelve month low of $98.25 and a twelve month high of $151.34. The firm has a market capitalization of $20.04 billion, a PE ratio of 10.41 and a beta of 1.31. The stock’s 50 day moving average is $119.64 and its 200 day moving average is $127.93.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Wednesday, July 17th. The basic materials company reported $2.72 earnings per share for the quarter, beating the consensus estimate of $2.67 by $0.05. Steel Dynamics had a return on equity of 22.89% and a net margin of 11.10%. The company had revenue of $4.63 billion for the quarter, compared to analyst estimates of $4.43 billion. During the same period in the previous year, the company posted $4.81 earnings per share. The firm’s revenue was down 8.8% on a year-over-year basis. Research analysts forecast that Steel Dynamics, Inc. will post 10.15 earnings per share for the current fiscal year.

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 11th. Shareholders of record on Monday, September 30th were issued a $0.46 dividend. This represents a $1.84 annualized dividend and a yield of 1.42%. The ex-dividend date was Monday, September 30th. Steel Dynamics’s dividend payout ratio (DPR) is 14.76%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Morgan Stanley decreased their price target on Steel Dynamics from $138.00 to $131.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 18th. BMO Capital Markets lifted their price target on Steel Dynamics from $127.00 to $130.00 and gave the stock a “market perform” rating in a research note on Thursday. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $129.00 to $145.00 in a research note on Tuesday, September 3rd. JPMorgan Chase & Co. reduced their target price on Steel Dynamics from $131.00 to $129.00 and set a “neutral” rating on the stock in a research note on Wednesday. Finally, Bank of America raised Steel Dynamics from a “neutral” rating to a “buy” rating and boosted their target price for the company from $140.00 to $155.00 in a research note on Tuesday, October 1st. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $142.86.

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.