Duality Advisers LP Makes New $1.03 Million Investment in Steel Dynamics, Inc. (NASDAQ:STLD)

Duality Advisers LP purchased a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 8,757 shares of the basic materials company’s stock, valued at approximately $1,034,000.

Several other institutional investors have also made changes to their positions in the stock. CWM LLC lifted its position in shares of Steel Dynamics by 5.0% during the 4th quarter. CWM LLC now owns 4,274 shares of the basic materials company’s stock valued at $505,000 after acquiring an additional 205 shares during the period. Signaturefd LLC lifted its position in Steel Dynamics by 0.9% during the fourth quarter. Signaturefd LLC now owns 10,698 shares of the basic materials company’s stock worth $1,263,000 after purchasing an additional 93 shares during the period. Verdence Capital Advisors LLC grew its stake in Steel Dynamics by 23.2% during the fourth quarter. Verdence Capital Advisors LLC now owns 10,078 shares of the basic materials company’s stock worth $1,190,000 after buying an additional 1,900 shares in the last quarter. Lindbrook Capital LLC increased 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 valued at $29,000 after buying an additional 134 shares during the period. Finally, abrdn plc raised its position in shares of Steel Dynamics by 21.3% in the 4th quarter. abrdn plc now owns 152,827 shares of the basic materials company’s stock valued at $18,049,000 after buying an additional 26,879 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Stock Performance

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

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

Steel Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, April 14th. Shareholders 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 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 12.61%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on STLD. UBS Group reduced their price target on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 24th. Citigroup boosted their price target on Steel Dynamics from $130.00 to $160.00 and gave the stock a “buy” rating in a report on Wednesday, March 13th. BMO Capital Markets upped 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. boosted their target price on Steel Dynamics from $100.00 to $118.00 and gave the stock an “underweight” rating in a research note 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 stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus 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.