Gateway Investment Advisers LLC Has $6.44 Million Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Gateway Investment Advisers LLC boosted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLDFree Report) by 2.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 54,502 shares of the basic materials company’s stock after acquiring an additional 1,413 shares during the period. Gateway Investment Advisers LLC’s holdings in Steel Dynamics were worth $6,437,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Wellington Shields & Co. LLC lifted its position in Steel Dynamics by 50.0% during the 4th quarter. Wellington Shields & Co. LLC now owns 300 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 100 shares during the last quarter. Ronald Blue Trust Inc. increased its holdings in shares of Steel Dynamics by 7.8% during the 3rd quarter. Ronald Blue Trust Inc. now owns 1,425 shares of the basic materials company’s stock worth $155,000 after purchasing an additional 103 shares during the period. Greenfield Savings Bank increased its holdings in shares of Steel Dynamics by 0.9% during the 4th quarter. Greenfield Savings Bank now owns 11,591 shares of the basic materials company’s stock worth $1,369,000 after purchasing an additional 108 shares during the period. Knights of Columbus Asset Advisors LLC increased its holdings in shares of Steel Dynamics by 0.3% during the 3rd quarter. Knights of Columbus Asset Advisors LLC now owns 44,547 shares of the basic materials company’s stock worth $4,776,000 after purchasing an additional 113 shares during the period. Finally, Oppenheimer & Co. Inc. increased its holdings in shares of Steel Dynamics by 1.4% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 8,196 shares of the basic materials company’s stock worth $879,000 after purchasing an additional 115 shares during the period. Institutional investors and hedge funds own 81.32% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently issued reports on STLD. JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $95.00 to $98.00 and gave the stock an “underweight” rating in a report on Tuesday, December 12th. UBS Group lowered their target price on shares of Steel Dynamics from $120.00 to $119.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 24th. BMO Capital Markets upped their target price on shares of Steel Dynamics from $110.00 to $120.00 and gave the company a “market perform” rating in a research note on Monday. Finally, Citigroup upped their target price on shares of Steel Dynamics from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Wednesday, March 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, Steel Dynamics currently has an average rating of “Hold” and an average target price of $118.13.

Check Out Our Latest Report on Steel Dynamics

Steel Dynamics Price Performance

NASDAQ:STLD opened at $139.97 on Tuesday. The firm has a market cap of $22.14 billion, a PE ratio of 9.59 and a beta of 1.41. Steel Dynamics, Inc. has a 12 month low of $90.55 and a 12 month high of $140.35. 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 company’s 50-day moving average price is $122.78 and its two-hundred day moving average price is $114.42.

Steel Dynamics (NASDAQ:STLDGet Free Report) last released its quarterly earnings results on Tuesday, January 23rd. The basic materials company reported $2.61 EPS for the quarter, missing analysts’ consensus estimates of $2.63 by ($0.02). The firm had revenue of $4.23 billion during the quarter, compared to analyst estimates of $4.22 billion. Steel Dynamics had a net margin of 13.04% and a return on equity of 29.49%. Steel Dynamics’s quarterly revenue was down 12.3% on a year-over-year basis. During the same quarter last year, the firm earned $4.37 earnings per share. On average, equities analysts anticipate that Steel Dynamics, Inc. will post 11.46 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Sunday, April 14th. Stockholders of record on Sunday, March 31st will be given a dividend of $0.46 per share. This represents a $1.84 dividend on an annualized basis and a dividend yield of 1.31%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.43. The ex-dividend date is Wednesday, March 27th. Steel Dynamics’s dividend payout ratio is presently 11.65%.

Steel Dynamics Profile

(Free Report)

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.

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

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