4,341 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Purchased by WINTON GROUP Ltd

WINTON GROUP Ltd purchased a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 4,341 shares of the basic materials company’s stock, valued at approximately $495,000.

A number of other large investors have also added to or reduced their stakes in STLD. Wilmington Savings Fund Society FSB bought a new position in shares of Steel Dynamics during the 3rd quarter valued at approximately $25,000. ORG Wealth Partners LLC purchased a new stake in Steel Dynamics during the fourth quarter valued at $28,000. Private Trust Co. NA lifted its position in Steel Dynamics by 532.6% during the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 245 shares during the last quarter. IAG Wealth Partners LLC purchased a new position in shares of Steel Dynamics in the 4th quarter worth $39,000. Finally, Avalon Trust Co bought a new stake in shares of Steel Dynamics in the 4th quarter worth about $42,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Trading Down 3.1 %

STLD stock opened at $123.97 on Monday. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The firm’s 50-day moving average is $128.46 and its 200 day moving average is $128.80. The company has a market capitalization of $18.58 billion, a PE ratio of 12.65, a P/E/G ratio of 1.05 and a beta of 1.34. 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 issued its earnings results 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 quarter in the previous year, the business earned $2.61 EPS. On average, research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics announced that its Board of Directors has authorized a stock repurchase 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 buy up to 7.4% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its shares are undervalued.

Steel Dynamics Increases Dividend

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

Insider Transactions at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of the company’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total value 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 represents 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 available through the SEC website. Corporate insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on STLD. Morgan Stanley upgraded Steel Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $145.00 to $158.00 in a research report on Friday, March 7th. JPMorgan Chase & Co. boosted their target price on Steel Dynamics from $132.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, March 11th. The Goldman Sachs Group initiated coverage on Steel Dynamics in a report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price target on the stock. KeyCorp raised 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 note on Tuesday, February 11th. Finally, BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Steel Dynamics has a consensus rating of “Moderate Buy” and an average price target of $148.56.

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.