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

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

Other hedge funds and other institutional investors have also made changes to their positions in the company. CVA Family Office LLC acquired a new position in shares of Steel Dynamics during the 4th quarter valued at $28,000. Turtle Creek Wealth Advisors LLC acquired a new position in Steel Dynamics in the 4th quarter worth $29,000. Lindbrook Capital LLC lifted its holdings in 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 buying an additional 134 shares in the last quarter. Exchange Traded Concepts LLC acquired a new position in Steel Dynamics in the 4th quarter worth $44,000. Finally, Denali Advisors LLC lifted 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 worth $48,000 after buying an additional 202 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $134.04 on Friday. The company has a quick ratio of 1.67, a current ratio of 2.87 and a debt-to-equity ratio of 0.29. Steel Dynamics, Inc. has a fifty-two week low of $90.55 and a fifty-two week high of $151.34. The firm has a 50-day simple moving average of $137.39 and a 200 day simple moving average of $122.28. The company has a market cap of $21.17 billion, a PE ratio of 9.21 and a beta of 1.42.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share for the quarter, beating analysts’ consensus estimates of $3.54 by $0.13. Steel Dynamics had a net margin of 12.89% and a return on equity of 27.62%. The business had revenue of $4.69 billion during the quarter, compared to the consensus estimate of $4.74 billion. During the same quarter in the prior year, the firm earned $4.01 EPS. The company’s revenue for the quarter was down 4.1% compared to the same quarter last year. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 11.79 EPS for the current year.

Steel Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Sunday, April 14th. Investors of record on Sunday, March 31st were given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date of this dividend was Wednesday, March 27th. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.43. Steel Dynamics’s dividend payout ratio is currently 12.64%.

Wall Street Analyst Weigh In

A number of brokerages have commented on STLD. BMO Capital Markets boosted their price objective on shares of Steel Dynamics from $110.00 to $120.00 and gave the stock a “market perform” rating in a report on Monday, March 18th. Citigroup boosted their price objective on shares of Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a report on Tuesday, April 16th. Finally, UBS Group cut their price objective on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a report on Wednesday, January 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $121.17.

Steel Dynamics Company Profile

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.