25,961 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Bought by Cary Street Partners Financial LLC

Cary Street Partners Financial LLC acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 25,961 shares of the basic materials company's stock, valued at approximately $2,961,000.

A number of other hedge funds have also bought and sold shares of STLD. Atomi Financial Group Inc. grew its holdings in Steel Dynamics by 5.0% during the 4th quarter. Atomi Financial Group Inc. now owns 1,929 shares of the basic materials company's stock valued at $220,000 after purchasing an additional 91 shares during the last quarter. Resonant Capital Advisors LLC grew its stake in shares of Steel Dynamics by 3.3% during the fourth quarter. Resonant Capital Advisors LLC now owns 3,200 shares of the basic materials company's stock valued at $366,000 after buying an additional 101 shares during the last quarter. OneAscent Financial Services LLC raised its holdings in shares of Steel Dynamics by 2.2% in the fourth quarter. OneAscent Financial Services LLC now owns 4,605 shares of the basic materials company's stock worth $527,000 after buying an additional 101 shares during the period. Center For Asset Management LLC lifted its stake in shares of Steel Dynamics by 3.6% during the 4th quarter. Center For Asset Management LLC now owns 3,252 shares of the basic materials company's stock worth $371,000 after acquiring an additional 113 shares during the last quarter. Finally, Cidel Asset Management Inc. boosted its holdings in Steel Dynamics by 6.2% during the 4th quarter. Cidel Asset Management Inc. now owns 2,036 shares of the basic materials company's stock valued at $232,000 after acquiring an additional 118 shares during the period. Institutional investors own 82.41% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the company. StockNews.com downgraded Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. JPMorgan Chase & Co. boosted their price objective on shares of Steel Dynamics from $135.00 to $138.00 and gave the company a "neutral" rating in a research report on Thursday, April 24th. Wolfe Research upgraded 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 shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and lifted their price target for the company from $135.00 to $145.00 in a research note on Monday, March 31st. Finally, Jefferies Financial Group raised Steel Dynamics from a "hold" rating to a "buy" rating and increased their price objective for the stock from $125.00 to $145.00 in a research note on Friday, January 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $147.44.

Steel Dynamics Stock Performance

Shares of STLD opened at $131.17 on Wednesday. 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 firm has a market cap of $19.66 billion, a PE ratio of 13.38, a P/E/G ratio of 1.05 and a beta of 1.44. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $155.56. The stock has a fifty day moving average price of $123.61 and a 200-day moving average price of $128.15.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued 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 return on equity of 17.32% and a net margin of 8.76%. The business had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.17 billion. During the same quarter last year, the company earned $3.67 earnings per share. Equities research analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.52%. Steel Dynamics's payout ratio is 26.42%.

Steel Dynamics announced that its Board of Directors has approved a stock repurchase plan on Monday, February 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the basic materials company to purchase up to 7.4% of its stock through open market purchases. Stock buyback plans are generally an indication that the company's management believes its stock is undervalued.

Insiders Place Their Bets

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 value of $3,184,810.83. Following the completion of the transaction, the senior vice president now directly owns 122,140 shares in the company, valued at $16,448,593.80. This trade represents a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 6.30% of the company's stock.

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.

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