First Citizens Financial Corp Acquires New Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

First Citizens Financial Corp acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the third quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 7,531 shares of the basic materials company’s stock, valued at approximately $216,000.

Several other hedge funds also recently modified their holdings of the stock. Victory Capital Management Inc. increased its position in Steel Dynamics by 16.3% in the 2nd quarter. Victory Capital Management Inc. now owns 8,282,386 shares of the basic materials company’s stock worth $216,087,000 after buying an additional 1,161,235 shares during the period. Hamlin Capital Management LLC increased its position in Steel Dynamics by 133.0% in the 2nd quarter. Hamlin Capital Management LLC now owns 2,013,342 shares of the basic materials company’s stock worth $52,528,000 after buying an additional 1,149,232 shares during the period. AQR Capital Management LLC increased its position in Steel Dynamics by 35.1% in the 1st quarter. AQR Capital Management LLC now owns 4,041,590 shares of the basic materials company’s stock worth $88,147,000 after buying an additional 1,049,662 shares during the period. First Trust Advisors LP increased its position in Steel Dynamics by 262.9% in the 2nd quarter. First Trust Advisors LP now owns 1,111,555 shares of the basic materials company’s stock worth $29,000,000 after buying an additional 805,253 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its position in Steel Dynamics by 37.4% in the 2nd quarter. Charles Schwab Investment Management Inc. now owns 2,949,031 shares of the basic materials company’s stock worth $76,941,000 after buying an additional 802,934 shares during the period. 81.42% of the stock is currently owned by institutional investors and hedge funds.

STLD stock remained flat at $$33.39 during trading on Friday. The company had a trading volume of 1,433,833 shares, compared to its average volume of 2,147,928. The firm’s fifty day moving average is $30.47 and its two-hundred day moving average is $27.14. The company has a current ratio of 3.60, a quick ratio of 2.20 and a debt-to-equity ratio of 0.66. The stock has a market capitalization of $7.02 billion, a P/E ratio of 13.41, a P/E/G ratio of 1.14 and a beta of 1.46. Steel Dynamics, Inc. has a twelve month low of $14.98 and a twelve month high of $35.78.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data on Monday, July 20th. The basic materials company reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.06. The company had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.06 billion. Steel Dynamics had a return on equity of 14.53% and a net margin of 5.60%. The business’s revenue was down 24.4% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.87 earnings per share. As a group, analysts expect that Steel Dynamics, Inc. will post 2.14 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 16th. Shareholders of record on Wednesday, September 30th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 2.99%. The ex-dividend date of this dividend was Tuesday, September 29th. Steel Dynamics’s dividend payout ratio is currently 32.26%.

Several analysts have recently weighed in on STLD shares. Cfra raised Steel Dynamics from a “hold” rating to a “buy” rating in a report on Wednesday, July 22nd. Deutsche Bank Aktiengesellschaft lifted their price objective on Steel Dynamics from $27.00 to $31.00 and gave the stock a “buy” rating in a report on Wednesday, July 29th. TheStreet lowered Steel Dynamics from a “b-” rating to a “c+” rating in a report on Wednesday, July 8th. Credit Suisse Group lifted their price objective on Steel Dynamics from $25.00 to $28.00 and gave the stock a “neutral” rating in a report on Wednesday, July 22nd. Finally, BMO Capital Markets lifted their price objective on Steel Dynamics from $29.00 to $32.00 and gave the stock a “market perform” rating in a report on Friday, September 18th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $31.50.

Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, operates as a steel producer and metal recycler in the United States. It operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment offers hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; and merchant-bar-quality products, including rounds, angles, flats, reinforcing bars, and channels and specialty steel sections.

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

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