Crestline Management LP Buys 81,008 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Crestline Management LP grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 728.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 92,125 shares of the basic materials company's stock after acquiring an additional 81,008 shares during the quarter. Crestline Management LP owned about 0.06% of Steel Dynamics worth $10,509,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. 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 buying an additional 91 shares in the last quarter. Resonant Capital Advisors LLC boosted its position in shares of Steel Dynamics by 3.3% during the 4th quarter. Resonant Capital Advisors LLC now owns 3,200 shares of the basic materials company's stock valued at $366,000 after acquiring an additional 101 shares during the last quarter. OneAscent Financial Services LLC grew 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 valued at $527,000 after purchasing an additional 101 shares in the last quarter. Center For Asset Management LLC increased its position in Steel Dynamics by 3.6% in the fourth quarter. Center For Asset Management LLC now owns 3,252 shares of the basic materials company's stock worth $371,000 after purchasing an additional 113 shares during the last quarter. Finally, Cidel Asset Management Inc. raised its stake in Steel Dynamics by 6.2% during the fourth quarter. Cidel Asset Management Inc. now owns 2,036 shares of the basic materials company's stock valued at $232,000 after purchasing an additional 118 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Steel Dynamics

In related 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 completion of the sale, the senior vice president now directly 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 legal filing with the SEC, which is available through the SEC website. 6.30% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

STLD has been the topic of a number of research reports. Jefferies Financial Group upgraded shares of Steel Dynamics from a "hold" rating to a "buy" rating and boosted their target price for the stock from $125.00 to $145.00 in a report on Friday, January 24th. 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. 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 report on Thursday, April 24th. Wolfe Research raised Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research report on Thursday, February 27th. Finally, BMO Capital Markets upgraded Steel Dynamics from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $135.00 to $145.00 in a research report on Monday, March 31st. 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $147.44.

Steel Dynamics Trading Up 0.7 %

Shares of NASDAQ:STLD traded up $0.89 on Friday, hitting $130.52. 753,895 shares of the company's stock were exchanged, compared to its average volume of 1,500,208. The stock has a market capitalization of $19.56 billion, a price-to-earnings ratio of 13.32, a price-to-earnings-growth 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 company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. The business's 50 day simple moving average is $123.59 and its two-hundred day simple moving average is $128.13.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share for the quarter, beating analysts' consensus estimates of $1.40 by $0.04. The company had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.17 billion. Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same quarter last year, the business posted $3.67 EPS. Analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics announced that its board has approved a stock repurchase plan 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 stock through open market purchases. Stock repurchase plans are generally an indication that the company's board believes its stock is undervalued.

Steel Dynamics Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.50 per share. The ex-dividend date is Monday, June 30th. This represents a $2.00 annualized dividend and a yield of 1.53%. Steel Dynamics's payout ratio is currently 26.42%.

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.