Paradiem LLC Has $7.56 Million Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Paradiem LLC increased its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 28.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 64,039 shares of the basic materials company's stock after buying an additional 14,048 shares during the period. Steel Dynamics comprises 2.1% of Paradiem LLC's portfolio, making the stock its 18th largest holding. Paradiem LLC's holdings in Steel Dynamics were worth $7,563,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. Royal London Asset Management Ltd. lifted its holdings in shares of Steel Dynamics by 0.3% in the third quarter. Royal London Asset Management Ltd. now owns 3,745,326 shares of the basic materials company's stock valued at $401,574,000 after purchasing an additional 12,208 shares in the last quarter. Morgan Stanley lifted its holdings in shares of Steel Dynamics by 0.8% in the third quarter. Morgan Stanley now owns 2,612,430 shares of the basic materials company's stock valued at $280,105,000 after purchasing an additional 19,833 shares in the last quarter. Northern Trust Corp lifted its holdings in shares of Steel Dynamics by 6.4% in the third quarter. Northern Trust Corp now owns 2,024,978 shares of the basic materials company's stock valued at $217,118,000 after purchasing an additional 122,507 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of Steel Dynamics by 165.4% in the third quarter. Ameriprise Financial Inc. now owns 2,014,956 shares of the basic materials company's stock valued at $212,447,000 after purchasing an additional 1,255,751 shares in the last quarter. Finally, Nordea Investment Management AB lifted its holdings in shares of Steel Dynamics by 1.1% in the fourth quarter. Nordea Investment Management AB now owns 1,008,853 shares of the basic materials company's stock valued at $118,787,000 after purchasing an additional 11,026 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Citigroup upped their price target on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a "buy" rating in a report on Wednesday, March 13th. BMO Capital Markets upped 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. JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $100.00 to $118.00 and gave the company an "underweight" rating in a research 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 for the company in a research report on Wednesday, January 24th. One analyst has rated the stock with a sell rating, five have given a hold rating and one has given a buy rating to the company's stock. According to data from MarketBeat.com, Steel Dynamics has a consensus rating of "Hold" and an average price target of $121.17.

Steel Dynamics Trading Up 0.8 %

Shares of Steel Dynamics stock traded up $1.01 during trading hours on Friday, hitting $134.04. The company's stock had a trading volume of 1,053,994 shares, compared to its average volume of 1,062,030. Steel Dynamics, Inc. has a 1-year low of $90.55 and a 1-year high of $151.34. The business has a fifty day moving average of $137.39 and a 200 day moving average of $122.45. The company has a market capitalization of $21.17 billion, a PE ratio of 9.21 and a beta of 1.42. 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 (NASDAQ:STLD - Get Free Report) last released its quarterly earnings data 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 business's quarterly revenue was down 4.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.01 earnings per share. As a group, equities analysts forecast that Steel Dynamics, Inc. will post 12.31 EPS for the current year.

Steel Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st were paid a $0.46 dividend. The ex-dividend date was Wednesday, March 27th. This is an increase from Steel Dynamics's previous quarterly dividend of $0.43. This represents a $1.84 annualized dividend and a dividend yield of 1.37%. Steel Dynamics's dividend 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.