Squarepoint Ops LLC Acquires 471,558 Shares of Steel Dynamics, Inc. (STLD)

Squarepoint Ops LLC increased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 273.6% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 643,916 shares of the basic materials company’s stock after buying an additional 471,558 shares during the period. Squarepoint Ops LLC owned about 0.28% of Steel Dynamics worth $19,343,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Russell Investments Group Ltd. boosted its position in Steel Dynamics by 8.5% during the third quarter. Russell Investments Group Ltd. now owns 167,521 shares of the basic materials company’s stock valued at $7,585,000 after buying an additional 13,090 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in Steel Dynamics by 43.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 177,090 shares of the basic materials company’s stock valued at $8,004,000 after buying an additional 53,972 shares during the period. American Century Companies Inc. purchased a new stake in Steel Dynamics during the third quarter valued at about $7,214,000. Commonwealth Equity Services LLC boosted its position in Steel Dynamics by 63.9% during the third quarter. Commonwealth Equity Services LLC now owns 44,206 shares of the basic materials company’s stock valued at $1,997,000 after buying an additional 17,238 shares during the period. Finally, LSV Asset Management boosted its position in Steel Dynamics by 22.0% during the third quarter. LSV Asset Management now owns 257,200 shares of the basic materials company’s stock valued at $11,622,000 after buying an additional 46,300 shares during the period. Institutional investors own 79.39% of the company’s stock.

Shares of Steel Dynamics stock traded down $0.70 during trading on Wednesday, reaching $34.76. 340,068 shares of the stock were exchanged, compared to its average volume of 2,154,139. The company has a current ratio of 3.96, a quick ratio of 2.13 and a debt-to-equity ratio of 0.62. The firm has a market cap of $7.95 billion, a P/E ratio of 6.33, a P/E/G ratio of 0.70 and a beta of 1.40. Steel Dynamics, Inc. has a 1 year low of $28.91 and a 1 year high of $52.10.

Steel Dynamics (NASDAQ:STLD) last posted its earnings results on Tuesday, January 22nd. The basic materials company reported $1.31 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.06. The company had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.93 billion. Steel Dynamics had a net margin of 10.65% and a return on equity of 35.44%. Steel Dynamics’s revenue for the quarter was up 24.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 earnings per share. Research analysts forecast that Steel Dynamics, Inc. will post 4.18 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 12th. Shareholders of record on Sunday, March 31st will be issued a $0.24 dividend. The ex-dividend date of this dividend is Friday, March 29th. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.19. This represents a $0.96 annualized dividend and a yield of 2.76%. Steel Dynamics’s dividend payout ratio (DPR) is 13.66%.

STLD has been the subject of a number of analyst reports. BidaskClub upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a report on Wednesday, January 30th. Credit Suisse Group upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Tuesday, January 8th. They noted that the move was a valuation call. ValuEngine upgraded shares of Steel Dynamics from a “strong sell” rating to a “sell” rating in a report on Thursday, January 10th. UBS Group set a $36.00 target price on shares of Steel Dynamics and gave the stock a “hold” rating in a report on Monday, December 10th. Finally, Cowen initiated coverage on shares of Steel Dynamics in a report on Tuesday, January 8th. They set a “market perform” rating and a $32.00 target price for the company. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $50.18.

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Steel Dynamics Company Profile

Steel Dynamics, Inc, together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the United States and internationally. The company operates through three segments: Steel Operations, Metals Recycling Operations, and Steel Fabrication Operations. The Steel Operations segment provides hot roll, cold roll, and coated steel products; structural steel beams, pilings, and standard and premium grade rail products; engineered special-bar-quality products; merchant bar products, including angles, merchant rounds, flats, channels, and reinforcing bars; beams, channels, and specialty steel sections; and threaded rod products, and cold drawn and heat treated bars.

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

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