8,757 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Acquired by Duality Advisers LP

Duality Advisers LP purchased a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 8,757 shares of the basic materials company’s stock, valued at approximately $1,034,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. CVA Family Office LLC bought a new position in Steel Dynamics in the 4th quarter worth $28,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Steel Dynamics in the fourth quarter worth about $29,000. Lindbrook Capital LLC lifted its position in shares of Steel Dynamics by 117.5% during the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 134 shares during the last quarter. Exchange Traded Concepts LLC bought a new stake in Steel Dynamics during the 4th quarter valued at approximately $44,000. Finally, Denali Advisors LLC grew its holdings in Steel Dynamics by 99.0% in the 4th quarter. Denali Advisors LLC now owns 406 shares of the basic materials company’s stock valued at $48,000 after buying an additional 202 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Trading Down 2.3 %

Shares of Steel Dynamics stock opened at $134.16 on Wednesday. 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 $21.19 billion, a P/E ratio of 9.20 and a beta of 1.42. The company has a 50-day simple moving average of $136.80 and a 200 day simple moving average of $121.97. The company has a quick ratio of 1.67, a current ratio of 2.91 and a debt-to-equity ratio of 0.30.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Tuesday, January 23rd. The basic materials company reported $2.61 EPS for the quarter, missing the consensus estimate of $2.63 by ($0.02). The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.22 billion. Steel Dynamics had a net margin of 13.04% and a return on equity of 29.49%. The firm’s quarterly revenue was down 12.3% on a year-over-year basis. During the same period last year, the business posted $4.37 earnings per share. Research analysts expect that Steel Dynamics, Inc. will post 11.79 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were paid a $0.46 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.37%. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.43. Steel Dynamics’s dividend payout ratio is 12.61%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on STLD shares. UBS Group cut their target price on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a research note on Wednesday, January 24th. Citigroup lifted their target price on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Wednesday, March 13th. BMO Capital Markets raised their price objective on Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a research report on Monday, March 18th. Finally, JPMorgan Chase & Co. lifted their price objective on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. One equities 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, Steel Dynamics currently has a consensus rating of “Hold” and an average price target 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.