1,790 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Purchased by denkapparat Operations GmbH

denkapparat Operations GmbH acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,790 shares of the basic materials company’s stock, valued at approximately $204,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Quest Partners LLC acquired a new position in Steel Dynamics during the third quarter worth approximately $62,000. Raymond James Trust N.A. purchased a new position in Steel Dynamics in the third quarter valued at approximately $201,000. Private Trust Co. NA boosted its position in Steel Dynamics by 532.6% during the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 245 shares during the period. Brooklyn Investment Group purchased a new stake in shares of Steel Dynamics in the third quarter worth about $61,000. Finally, BNP Paribas Financial Markets boosted its holdings in Steel Dynamics by 4.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 221,376 shares of the basic materials company’s stock worth $27,911,000 after acquiring an additional 8,756 shares during the period. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, SVP Glenn Pushis sold 23,649 shares of the firm’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the completion of the sale, the senior vice president now directly owns 122,140 shares of the company’s stock, valued at $16,448,593.80. This trade represents a 16.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 6.30% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

STLD has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on Steel Dynamics from $132.00 to $140.00 and gave the company a “neutral” rating in a research note on Tuesday, March 11th. Morgan Stanley upgraded shares of Steel Dynamics from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $145.00 to $158.00 in a research report on Friday, March 7th. The Goldman Sachs Group assumed coverage on Steel Dynamics in a research note on Monday, December 2nd. They set a “neutral” rating and a $155.00 price objective for the company. StockNews.com upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Citigroup cut their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $148.56.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $123.97 on Friday. The stock’s fifty day simple moving average is $128.46 and its 200 day simple moving average is $128.52. The stock has a market capitalization of $18.58 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 1.05 and a beta of 1.34. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share 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 in the previous year, the firm posted $2.61 earnings per share. As a group, sell-side analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics announced that its board has approved a stock buyback program on Monday, February 24th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the basic materials company to purchase up to 7.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company’s leadership believes its stock is undervalued.

Steel Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be given a $0.50 dividend. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 1.61%. Steel Dynamics’s dividend payout ratio is presently 20.41%.

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.