1,975 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Acquired by DRW Securities LLC

DRW Securities LLC purchased a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,975 shares of the basic materials company’s stock, valued at approximately $225,000.

Other hedge funds have also recently bought and sold shares of the company. Quantinno Capital Management LP increased its position in shares of Steel Dynamics by 92.5% during the 3rd quarter. Quantinno Capital Management LP now owns 8,047 shares of the basic materials company’s stock worth $1,015,000 after purchasing an additional 3,866 shares in the last quarter. Wellington Management Group LLP boosted its holdings in shares of Steel Dynamics by 99.9% in the 3rd quarter. Wellington Management Group LLP now owns 150,738 shares of the basic materials company’s stock worth $19,005,000 after acquiring an additional 75,343 shares in the last quarter. Barclays PLC boosted its holdings in shares of Steel Dynamics by 21.8% in the 3rd quarter. Barclays PLC now owns 448,942 shares of the basic materials company’s stock worth $56,603,000 after acquiring an additional 80,262 shares in the last quarter. M&T Bank Corp grew its position in Steel Dynamics by 0.9% during the 3rd quarter. M&T Bank Corp now owns 10,055 shares of the basic materials company’s stock worth $1,267,000 after acquiring an additional 88 shares during the last quarter. Finally, Coldstream Capital Management Inc. increased its holdings in Steel Dynamics by 7.3% during the 3rd quarter. Coldstream Capital Management Inc. now owns 4,917 shares of the basic materials company’s stock valued at $625,000 after purchasing an additional 336 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on STLD. JPMorgan Chase & Co. boosted their price objective on Steel Dynamics from $132.00 to $140.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 11th. Jefferies Financial Group upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating and raised their price objective for the company from $125.00 to $145.00 in a research report on Friday, January 24th. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. StockNews.com raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, KeyCorp upgraded shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a research report on Tuesday, February 11th. Four equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Steel Dynamics has a consensus rating of “Moderate Buy” and an average price target of $149.67.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total value of $3,184,810.83. Following the completion of the transaction, the senior vice president now directly owns 122,140 shares of the company’s stock, valued at approximately $16,448,593.80. The trade was a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.30% of the company’s stock.

Steel Dynamics Price Performance

STLD opened at $120.41 on Friday. The company has a fifty day moving average price of $126.60 and a two-hundred day moving average price of $128.70. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. The firm has a market capitalization of $18.05 billion, a PE ratio of 12.29, a P/E/G ratio of 1.05 and a beta of 1.35. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same period last year, the firm earned $2.61 EPS. As a group, analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Monday, March 31st were issued a dividend of $0.50 per share. The ex-dividend date was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 1.66%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.46. Steel Dynamics’s payout ratio is currently 20.41%.

Steel Dynamics declared that its Board of Directors has authorized a share buyback plan on Monday, February 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to buy up to 7.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its stock is undervalued.

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.