Captrust Financial Advisors Raises Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Captrust Financial Advisors grew its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 3.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 56,447 shares of the basic materials company’s stock after acquiring an additional 1,648 shares during the quarter. Captrust Financial Advisors’ holdings in Steel Dynamics were worth $6,439,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Norges Bank purchased a new stake in Steel Dynamics during the fourth quarter valued at approximately $336,426,000. Capital Research Global Investors raised its holdings in Steel Dynamics by 29.4% during the 4th quarter. Capital Research Global Investors now owns 3,592,670 shares of the basic materials company’s stock valued at $409,816,000 after buying an additional 815,629 shares during the period. Price T Rowe Associates Inc. MD lifted its position in Steel Dynamics by 8.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 5,628,403 shares of the basic materials company’s stock worth $642,033,000 after buying an additional 451,630 shares during the last quarter. First Trust Advisors LP boosted its stake in Steel Dynamics by 14.1% during the fourth quarter. First Trust Advisors LP now owns 3,179,062 shares of the basic materials company’s stock worth $362,636,000 after buying an additional 393,516 shares during the period. Finally, Northern Trust Corp increased its position in Steel Dynamics by 17.1% during the fourth quarter. Northern Trust Corp now owns 1,775,286 shares of the basic materials company’s stock valued at $202,507,000 after acquiring an additional 259,361 shares during the last quarter. Institutional investors own 82.41% of the company’s stock.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics 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 transaction, the senior vice president now owns 122,140 shares in the company, valued at $16,448,593.80. The trade was a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 6.30% of the company’s stock.

Steel Dynamics Stock Performance

STLD stock opened at $129.55 on Friday. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $155.56. The business has a 50-day moving average price of $123.51 and a 200 day moving average price of $128.14. The company has a market capitalization of $19.42 billion, a P/E ratio of 13.22, a PEG ratio of 1.05 and a beta of 1.44. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share for the quarter, topping the consensus estimate of $1.40 by $0.04. Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. The firm had revenue of $4.37 billion during the quarter, compared to analysts’ expectations of $4.17 billion. During the same quarter in the prior year, the company earned $3.67 EPS. As a group, equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics declared that its board has approved a stock repurchase program on Monday, February 24th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the basic materials company to reacquire up to 7.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s leadership believes its stock is undervalued.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.54%. Steel Dynamics’s dividend payout ratio is presently 26.42%.

Analyst Ratings Changes

STLD has been the subject of a number of recent analyst reports. Wolfe Research raised shares of Steel Dynamics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, February 27th. BMO Capital Markets raised Steel Dynamics from a “market perform” rating to an “outperform” rating and upped their target price for the company from $135.00 to $145.00 in a research note on Monday, March 31st. KeyCorp raised Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price target for the company in a research note on Tuesday, February 11th. Morgan Stanley set a $140.00 price objective on Steel Dynamics and gave the company an “overweight” rating in a research report on Thursday, April 24th. Finally, JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $135.00 to $138.00 and gave the stock a “neutral” rating in a research report on Thursday, April 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $147.44.

Steel Dynamics Profile

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.