Nemes Rush Group LLC Purchases 220 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Nemes Rush Group LLC raised its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 1.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 14,083 shares of the basic materials company’s stock after purchasing an additional 220 shares during the quarter. Nemes Rush Group LLC’s holdings in Steel Dynamics were worth $1,606,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of the stock. Harbour Capital Advisors LLC grew its stake in shares of Steel Dynamics by 133.7% during the fourth quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company’s stock valued at $1,301,000 after purchasing an additional 6,579 shares during the last quarter. Oak Thistle LLC acquired a new stake in Steel Dynamics in the fourth quarter worth $1,725,000. Foster & Motley Inc. lifted its holdings in Steel Dynamics by 8.0% during the fourth quarter. Foster & Motley Inc. now owns 35,299 shares of the basic materials company’s stock worth $4,027,000 after acquiring an additional 2,602 shares in the last quarter. Nordea Investment Management AB grew its stake in Steel Dynamics by 22.4% in the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock valued at $158,487,000 after acquiring an additional 253,802 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Steel Dynamics by 9.1% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 27,373 shares of the basic materials company’s stock worth $3,123,000 after acquiring an additional 2,287 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics stock in a transaction that occurred on 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 sale, 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 6.30% of the company’s stock.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $125.08 on Tuesday. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. The stock has a market cap of $18.75 billion, a PE ratio of 12.76, a price-to-earnings-growth ratio of 1.05 and a beta of 1.34. The stock’s fifty day simple moving average is $128.45 and its two-hundred day simple moving average is $128.90.

Steel Dynamics (NASDAQ:STLD) last released its 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 net margin of 8.76% and a return on equity of 17.32%. During the same quarter in the prior year, the company earned $2.61 EPS. As a group, analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics declared that its board has initiated a stock repurchase plan on Monday, February 24th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the basic materials company to repurchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s management believes its stock is undervalued.

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.60%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.46. The ex-dividend date is Monday, March 31st. Steel Dynamics’s dividend payout ratio is presently 20.41%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. UBS Group upgraded Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 price objective for the company in a report on Monday, March 24th. Morgan Stanley raised Steel Dynamics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $145.00 to $158.00 in a research report on Friday, March 7th. StockNews.com upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a report on Thursday, March 6th. Finally, KeyCorp raised shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price target on the stock in a research report on Tuesday, February 11th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $149.67.

Steel Dynamics Company 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.