Mackay Shields LLC acquired a new position in Steel Dynamics, Inc. (NASDAQ:STLD) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 58,229 shares of the basic materials company’s stock, valued at approximately $1,750,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of STLD. Ffcm LLC increased its stake in shares of Steel Dynamics by 59.3% in the 4th quarter. Ffcm LLC now owns 924 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 344 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in shares of Steel Dynamics by 36.4% in the 4th quarter. Valeo Financial Advisors LLC now owns 1,124 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 300 shares in the last quarter. SRS Capital Advisors Inc. increased its stake in shares of Steel Dynamics by 183.6% in the 4th quarter. SRS Capital Advisors Inc. now owns 1,126 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 729 shares in the last quarter. JOYN Advisors Inc. increased its stake in shares of Steel Dynamics by 34.7% in the 4th quarter. JOYN Advisors Inc. now owns 1,164 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 300 shares in the last quarter. Finally, CoreCommodity Management LLC bought a new position in shares of Steel Dynamics in the 4th quarter worth about $62,000. Institutional investors and hedge funds own 82.09% of the company’s stock.

Shares of STLD opened at $33.97 on Monday. The firm has a market cap of $7.61 billion, a PE ratio of 6.19, a P/E/G ratio of 0.69 and a beta of 1.40. Steel Dynamics, Inc. has a 12-month low of $28.91 and a 12-month high of $52.10. The company has a quick ratio of 2.13, a current ratio of 3.96 and a debt-to-equity ratio of 0.62.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, January 22nd. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.06. The firm had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.93 billion. Steel Dynamics had a net margin of 10.65% and a return on equity of 35.44%. The business’s revenue was up 24.3% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 earnings per share. Analysts predict that Steel Dynamics, Inc. will post 4.08 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Investors of record on Sunday, March 31st will be issued a $0.24 dividend. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.19. This represents a $0.96 annualized dividend and a dividend yield of 2.83%. The ex-dividend date of this dividend is Friday, March 29th. Steel Dynamics’s payout ratio is presently 13.66%.

Several research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Wednesday, March 6th. BidaskClub upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Wednesday, January 30th. ValuEngine lowered shares of Steel Dynamics from a “sell” rating to a “strong sell” rating in a research note on Tuesday, November 27th. Cowen began coverage on shares of Steel Dynamics in a research report on Tuesday, January 8th. They set a “market perform” rating and a $32.00 price objective on the stock. Finally, Credit Suisse Group raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 8th. They noted that the move was a valuation call. Two research analysts have rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $49.30.

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About Steel Dynamics

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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