GAMMA Investing LLC Takes $177,000 Position in Steel Dynamics, Inc. (NASDAQ:STLD)

GAMMA Investing LLC purchased a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 1,469 shares of the basic materials company’s stock, valued at approximately $177,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Royal London Asset Management Ltd. increased its stake in shares of Steel Dynamics by 0.3% in the 3rd quarter. Royal London Asset Management Ltd. now owns 3,745,326 shares of the basic materials company’s stock valued at $401,574,000 after purchasing an additional 12,208 shares in the last quarter. Morgan Stanley increased its stake in Steel Dynamics by 0.8% during the 3rd quarter. Morgan Stanley now owns 2,612,430 shares of the basic materials company’s stock worth $280,105,000 after buying an additional 19,833 shares in the last quarter. Northern Trust Corp increased its stake in Steel Dynamics by 6.4% during the 3rd quarter. Northern Trust Corp now owns 2,024,978 shares of the basic materials company’s stock worth $217,118,000 after buying an additional 122,507 shares in the last quarter. Ameriprise Financial Inc. increased its stake in Steel Dynamics by 165.4% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,014,956 shares of the basic materials company’s stock worth $212,447,000 after buying an additional 1,255,751 shares in the last quarter. Finally, Nordea Investment Management AB increased its stake in Steel Dynamics by 1.1% during the 4th quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company’s stock worth $118,787,000 after buying an additional 11,026 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Up 0.8 %

STLD opened at $134.04 on Friday. Steel Dynamics, Inc. has a one year low of $90.55 and a one year high of $151.34. The stock has a market capitalization of $21.17 billion, a PE 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 $122.28. 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 data on Tuesday, April 23rd. The basic materials company reported $3.67 EPS for the quarter, beating analysts’ consensus estimates of $3.54 by $0.13. Steel Dynamics had a return on equity of 27.62% and a net margin of 12.89%. The firm had revenue of $4.69 billion for the quarter, compared to analysts’ expectations of $4.74 billion. During the same period in the prior year, the firm posted $4.01 earnings per share. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. As a group, equities research analysts expect that Steel Dynamics, Inc. will post 11.79 EPS for the current year.

Steel Dynamics Increases Dividend

The business also recently disclosed 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 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 a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Wall Street Analysts Forecast Growth

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