Federated Hermes Inc. Has $7.35 Million Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Federated Hermes Inc. lessened its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 44.8% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 62,215 shares of the basic materials company’s stock after selling 50,474 shares during the period. Federated Hermes Inc.’s holdings in Steel Dynamics were worth $7,348,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of STLD. CWM LLC increased its holdings in shares of Steel Dynamics by 30.4% in the 3rd quarter. CWM LLC now owns 4,069 shares of the basic materials company’s stock valued at $436,000 after purchasing an additional 948 shares during the period. HB Wealth Management LLC increased its holdings in shares of Steel Dynamics by 16.5% in the 3rd quarter. HB Wealth Management LLC now owns 2,218 shares of the basic materials company’s stock valued at $238,000 after purchasing an additional 314 shares during the period. Flagship Harbor Advisors LLC acquired a new position in shares of Steel Dynamics in the 3rd quarter valued at about $206,000. Capital Asset Advisory Services LLC increased its holdings in shares of Steel Dynamics by 13.5% in the 3rd quarter. Capital Asset Advisory Services LLC now owns 2,140 shares of the basic materials company’s stock valued at $236,000 after purchasing an additional 254 shares during the period. Finally, IQ EQ FUND MANAGEMENT IRELAND Ltd increased its holdings in shares of Steel Dynamics by 64.1% in the 3rd quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 11,436 shares of the basic materials company’s stock valued at $1,226,000 after purchasing an additional 4,465 shares during the period. Institutional investors and hedge funds own 82.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. UBS Group lowered their price target on Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating for the company in a research note on Wednesday, January 24th. BMO Capital Markets boosted their price target on Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday, March 18th. Citigroup boosted their price target on Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. Finally, JPMorgan Chase & Co. boosted their price target on Steel Dynamics from $100.00 to $118.00 and gave the company an “underweight” rating in a research note on Tuesday, April 16th. One investment 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. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $121.17.

Steel Dynamics Stock Down 3.2 %

Shares of Steel Dynamics stock opened at $129.92 on Thursday. The stock has a market capitalization of $20.52 billion, a P/E ratio of 8.92 and a beta of 1.42. The company has a quick ratio of 1.67, a current ratio of 2.91 and a debt-to-equity ratio of 0.30. The stock has a 50 day moving average price of $136.80 and a two-hundred day moving average price of $121.97. Steel Dynamics, Inc. has a 12-month low of $90.55 and a 12-month high of $151.34.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Tuesday, April 23rd. The basic materials company reported $3.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.54 by $0.13. Steel Dynamics had a return on equity of 27.83% and a net margin of 12.89%. The firm had revenue of $4.69 billion during the quarter, compared to analysts’ expectations of $4.74 billion. During the same quarter in the prior year, the business earned $4.01 earnings per share. The company’s revenue was down 4.1% on a year-over-year basis. Equities analysts expect that Steel Dynamics, Inc. will post 11.79 earnings per share for the current year.

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were issued a dividend of $0.46 per share. The ex-dividend date was Wednesday, March 27th. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.42%. Steel Dynamics’s payout ratio is 12.64%.

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.