1,131 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Purchased by Headlands Technologies LLC

Headlands Technologies LLC acquired a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 1,131 shares of the basic materials company’s stock, valued at approximately $134,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. CVA Family Office LLC purchased a new stake in Steel Dynamics in the fourth quarter worth $28,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Steel Dynamics in the 4th quarter worth about $29,000. Lindbrook Capital LLC increased its stake in shares of Steel Dynamics by 117.5% in the 4th quarter. Lindbrook Capital LLC now owns 248 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 134 shares in the last quarter. Exchange Traded Concepts LLC bought a new stake in Steel Dynamics during the fourth quarter worth about $44,000. Finally, Denali Advisors LLC grew its holdings in Steel Dynamics by 99.0% in the fourth quarter. Denali Advisors LLC now owns 406 shares of the basic materials company’s stock worth $48,000 after purchasing an additional 202 shares during the period. Hedge funds and other institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Up 0.8 %

STLD opened at $135.07 on Tuesday. The company has a current ratio of 2.87, a quick ratio of 1.55 and a debt-to-equity ratio of 0.29. The company has a market capitalization of $21.33 billion, a PE ratio of 9.28 and a beta of 1.42. Steel Dynamics, Inc. has a 1-year low of $90.55 and a 1-year high of $151.34. The firm’s 50 day simple moving average is $137.63 and its two-hundred day simple moving average is $122.66.

Steel Dynamics (NASDAQ:STLD) last released its 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 analyst estimates of $4.74 billion. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The firm’s quarterly revenue was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.01 EPS. As a group, equities analysts forecast that Steel Dynamics, Inc. will post 12.31 EPS for the current year.

Steel Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were given a $0.46 dividend. This represents a $1.84 annualized dividend and a dividend yield of 1.36%. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date of this dividend was Wednesday, March 27th. Steel Dynamics’s payout ratio is presently 12.64%.

Analyst Upgrades and Downgrades

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