GSA Capital Partners LLP Invests $233,000 in Steel Dynamics, Inc. (STLD)

GSA Capital Partners LLP bought a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 6,751 shares of the basic materials company’s stock, valued at approximately $233,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. IHT Wealth Management LLC raised its stake in shares of Steel Dynamics by 0.7% in the second quarter. IHT Wealth Management LLC now owns 407 shares of the basic materials company’s stock valued at $198,000 after purchasing an additional 3 shares in the last quarter. Advisory Services Network LLC grew its position in Steel Dynamics by 2.3% in the second quarter. Advisory Services Network LLC now owns 4,414 shares of the basic materials company’s stock valued at $158,000 after acquiring an additional 101 shares during the period. First Allied Advisory Services Inc. grew its position in Steel Dynamics by 2.8% in the second quarter. First Allied Advisory Services Inc. now owns 8,296 shares of the basic materials company’s stock valued at $297,000 after acquiring an additional 223 shares during the period. M&T Bank Corp grew its position in Steel Dynamics by 2.7% in the second quarter. M&T Bank Corp now owns 19,829 shares of the basic materials company’s stock valued at $709,000 after acquiring an additional 515 shares during the period. Finally, CIBC World Markets Inc. grew its position in Steel Dynamics by 2.9% in the second quarter. CIBC World Markets Inc. now owns 30,787 shares of the basic materials company’s stock valued at $1,102,000 after acquiring an additional 857 shares during the period. Institutional investors and hedge funds own 83.38% of the company’s stock.

Shares of Steel Dynamics, Inc. (NASDAQ:STLD) opened at $47.12 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 1.95 and a current ratio of 3.35. The company has a market capitalization of $11,170.00, a price-to-earnings ratio of 21.71, a PEG ratio of 1.26 and a beta of 1.40. Steel Dynamics, Inc. has a 1-year low of $32.15 and a 1-year high of $47.18.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, October 18th. The basic materials company reported $0.66 EPS for the quarter, hitting the consensus estimate of $0.66. The company had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Steel Dynamics had a return on equity of 21.45% and a net margin of 5.79%. The business’s revenue for the quarter was up 16.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.64 earnings per share. research analysts expect that Steel Dynamics, Inc. will post 2.64 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 10th. Stockholders of record on Sunday, December 31st were issued a dividend of $0.155 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.32%. The ex-dividend date of this dividend was Thursday, December 28th. Steel Dynamics’s payout ratio is presently 28.57%.

A number of analysts have weighed in on STLD shares. Morgan Stanley set a $36.00 price target on Steel Dynamics and gave the company a “hold” rating in a research report on Tuesday, October 24th. KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $44.00 price target on the stock in a research report on Friday, October 20th. Jefferies Group reiterated a “buy” rating and issued a $43.00 price target on shares of Steel Dynamics in a research report on Friday, October 6th. Citigroup upped their price target on Steel Dynamics from $41.00 to $42.00 and gave the company a “buy” rating in a research report on Friday, October 20th. Finally, BidaskClub upgraded Steel Dynamics from a “hold” rating to a “buy” rating in a research report on Tuesday, December 12th. Five analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $43.71.

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About Steel Dynamics

Steel Dynamics, Inc is a steel producing and a metal recycling company. The Company is engaged in the manufacture and sale of steel products, processing and sale of recycled ferrous and nonferrous metals, and fabrication and sale of steel joists and deck products. Its segments include steel operations, metals recycling operations, steel fabrication operations and Other Operations.

Institutional Ownership by Quarter for Steel Dynamics (NASDAQ:STLD)

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