Steel Dynamics, Inc. (NASDAQ:STLD) Shares Purchased by Paradiem LLC

Paradiem LLC grew its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 28.1% during the fourth quarter, HoldingsChannel reports. The firm owned 64,039 shares of the basic materials company’s stock after buying an additional 14,048 shares during the period. Steel Dynamics accounts for approximately 2.1% of Paradiem LLC’s holdings, making the stock its 18th largest holding. Paradiem LLC’s holdings in Steel Dynamics were worth $7,563,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in STLD. Headlands Technologies LLC purchased a new position in Steel Dynamics in the fourth quarter valued at about $134,000. Spinnaker Trust raised its stake in shares of Steel Dynamics by 6.0% in 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 in the last quarter. Disciplined Equity Management Inc. acquired a new position in Steel Dynamics in the fourth quarter worth about $354,000. GAMMA Investing LLC bought a new stake in Steel Dynamics in the fourth quarter valued at about $177,000. Finally, Wedge Capital Management L L P NC raised its stake in Steel Dynamics by 13.5% during the fourth quarter. Wedge Capital Management L L P NC now owns 61,236 shares of the basic materials company’s stock valued at $7,232,000 after buying an additional 7,272 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Stock Performance

Shares of STLD traded up $1.01 during mid-day trading on Friday, reaching $134.04. 1,053,994 shares of the company’s stock traded hands, compared to its average volume of 1,062,030. Steel Dynamics, Inc. has a 12 month low of $90.55 and a 12 month high of $151.34. The stock has a market capitalization of $21.17 billion, a P/E ratio of 9.21 and a beta of 1.42. The business’s 50-day moving average price is $137.39 and its 200-day moving average price is $122.37. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.67 and a current ratio of 2.87.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.54 by $0.13. The company had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.74 billion. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $4.01 earnings per share. Equities analysts predict that Steel Dynamics, Inc. will post 12.31 earnings per share for the current year.

Steel Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were given a dividend of $0.46 per share. The ex-dividend date was Wednesday, March 27th. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a dividend yield of 1.37%. Steel Dynamics’s dividend payout ratio (DPR) is 12.64%.

Wall Street Analysts Forecast Growth

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