O Shaughnessy Asset Management LLC Acquires 8,307 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

O Shaughnessy Asset Management LLC raised its holdings in Steel Dynamics, Inc. (NASDAQ:STLD – Get Rating) by 77.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 19,007 shares of the basic materials company’s stock after acquiring an additional 8,307 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Steel Dynamics were worth $1,857,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Nations Financial Group Inc. IA ADV grew its holdings in Steel Dynamics by 1.2% during the third quarter. Nations Financial Group Inc. IA ADV now owns 8,778 shares of the basic materials company’s stock worth $623,000 after buying an additional 103 shares in the last quarter. Belpointe Asset Management LLC grew its holdings in Steel Dynamics by 2.5% during the third quarter. Belpointe Asset Management LLC now owns 4,257 shares of the basic materials company’s stock worth $301,000 after buying an additional 103 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in Steel Dynamics by 4.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 3,007 shares of the basic materials company’s stock worth $294,000 after buying an additional 117 shares in the last quarter. Signaturefd LLC grew its holdings in Steel Dynamics by 5.0% during the fourth quarter. Signaturefd LLC now owns 2,552 shares of the basic materials company’s stock worth $249,000 after buying an additional 122 shares in the last quarter. Finally, Nisa Investment Advisors LLC grew its holdings in Steel Dynamics by 0.3% during the third quarter. Nisa Investment Advisors LLC now owns 38,025 shares of the basic materials company’s stock worth $2,734,000 after buying an additional 130 shares in the last quarter. Institutional investors own 79.54% of the company’s stock.

Steel Dynamics Trading Up 1.6 %

Shares of STLD opened at $94.73 on Friday. The business has a 50-day moving average of $103.58 and a 200 day moving average of $108.57. Steel Dynamics, Inc. has a fifty-two week low of $62.44 and a fifty-two week high of $136.46. The firm has a market cap of $16.01 billion, a P/E ratio of 5.04 and a beta of 1.48. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.51 and a current ratio of 4.15.

Steel Dynamics (NASDAQ:STLD – Get Rating) last announced its quarterly earnings data on Wednesday, April 19th. The basic materials company reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.81 by $0.20. Steel Dynamics had a return on equity of 47.68% and a net margin of 15.73%. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.95 billion. During the same quarter last year, the firm posted $6.02 EPS. The firm’s revenue for the quarter was down 12.1% on a year-over-year basis. As a group, research analysts forecast that Steel Dynamics, Inc. will post 16.34 EPS for the current year.

Steel Dynamics Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 14th. Shareholders of record on Friday, June 30th will be paid a $0.425 dividend. The ex-dividend date of this dividend is Thursday, June 29th. This represents a $1.70 annualized dividend and a yield of 1.79%. Steel Dynamics’s dividend payout ratio is currently 9.05%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. StockNews.com assumed coverage on Steel Dynamics in a report on Thursday, May 18th. They set a “hold” rating for the company. JPMorgan Chase & Co. assumed coverage on Steel Dynamics in a research note on Tuesday. They issued an “underweight” rating and a $82.00 price objective for the company. Credit Suisse Group upped their price objective on Steel Dynamics from $106.00 to $115.00 and gave the company an “outperform” rating in a research note on Friday, April 21st. The Goldman Sachs Group downgraded Steel Dynamics from a “buy” rating to a “neutral” rating and upped their price objective for the company from $114.00 to $118.00 in a research note on Friday, January 27th. Finally, BMO Capital Markets upped their price objective on Steel Dynamics from $109.00 to $120.00 and gave the company a “market perform” rating in a research note on Friday, January 27th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $107.63.

Steel Dynamics Company Profile

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Steel Dynamics, Inc engages in the manufacture of steel products and metal recycling. It operates through the following segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment consists of sheet products including hot roll, cold roll, and coated steel, long products including structural steel beams, pilings, and standard and premium grade rail, and steel finishing services such as turning, polishing, straightening, chamfering, threading, and precision saw-cutting.