Denali Advisors LLC purchased a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the first quarter, according to its most recent filing with the SEC. The firm purchased 34,400 shares of the basic materials company’s stock, valued at approximately $1,213,000.

Other hedge funds also recently bought and sold shares of the company. Valeo Financial Advisors LLC increased its stake in shares of Steel Dynamics by 36.4% during the 4th quarter. Valeo Financial Advisors LLC now owns 1,124 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 300 shares in the last quarter. JOYN Advisors Inc. increased its stake in shares of Steel Dynamics by 34.7% during the 4th quarter. JOYN Advisors Inc. now owns 1,164 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 300 shares in the last quarter. Ffcm LLC increased its stake in shares of Steel Dynamics by 59.3% during the 4th quarter. Ffcm LLC now owns 924 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 344 shares in the last quarter. Penserra Capital Management LLC increased its stake in shares of Steel Dynamics by 28.2% during the 4th quarter. Penserra Capital Management LLC now owns 2,071 shares of the basic materials company’s stock worth $61,000 after purchasing an additional 455 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in shares of Steel Dynamics by 6.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 8,500 shares of the basic materials company’s stock worth $255,000 after purchasing an additional 500 shares in the last quarter. Institutional investors own 82.58% of the company’s stock.

A number of brokerages have recently weighed in on STLD. ValuEngine cut shares of Steel Dynamics from a “sell” rating to a “strong sell” rating in a research note on Monday, April 1st. BidaskClub cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Saturday, March 9th. Zacks Investment Research raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. Cowen began coverage on shares of Steel Dynamics in a research note on Tuesday, January 8th. They set a “market perform” rating and a $32.00 price objective for the company. Finally, Credit Suisse Group raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Tuesday, January 8th. They noted that the move was a valuation call. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. Steel Dynamics has an average rating of “Hold” and a consensus target price of $48.89.

STLD stock opened at $34.68 on Wednesday. The company has a market capitalization of $7.98 billion, a price-to-earnings ratio of 6.32, a PEG ratio of 0.73 and a beta of 1.39. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.96 and a quick ratio of 2.13. Steel Dynamics, Inc. has a one year low of $28.91 and a one year high of $52.10.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, January 22nd. The basic materials company reported $1.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.06. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.93 billion. Steel Dynamics had a net margin of 10.65% and a return on equity of 35.44%. Steel Dynamics’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 EPS. As a group, sell-side analysts expect that Steel Dynamics, Inc. will post 4.08 EPS for the current year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Sunday, March 31st will be paid a $0.24 dividend. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.19. This represents a $0.96 annualized dividend and a yield of 2.77%. The ex-dividend date is Friday, March 29th. Steel Dynamics’s payout ratio is presently 17.49%.

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Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. The company operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment provides hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; merchant bar products, including angles, merchant rounds, flats, channels, and reinforcing bars; beams, channels, and specialty steel sections; and threaded rod products, and cold drawn and heat treated bars.

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

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