16,191 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Acquired by DoubleLine ETF Adviser LP

DoubleLine ETF Adviser LP acquired a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 16,191 shares of the basic materials company's stock, valued at approximately $1,847,000.

Other hedge funds have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB purchased a new stake in shares of Steel Dynamics during the 3rd quarter valued at $25,000. ORG Wealth Partners LLC purchased a new stake in Steel Dynamics during the fourth quarter valued at about $28,000. IAG Wealth Partners LLC acquired a new stake in Steel Dynamics during the fourth quarter worth about $39,000. Avalon Trust Co purchased a new position in shares of Steel Dynamics in the 4th quarter worth about $42,000. Finally, Golden State Wealth Management LLC acquired a new position in shares of Steel Dynamics in the 4th quarter valued at about $48,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Steel Dynamics Stock Performance

STLD stock traded down $1.82 during mid-day trading on Monday, reaching $133.12. The company had a trading volume of 814,730 shares, compared to its average volume of 1,501,774. The stock's 50-day simple moving average is $123.66 and its two-hundred day simple moving average is $128.15. The stock has a market capitalization of $19.95 billion, a P/E ratio of 13.58, a P/E/G ratio of 1.05 and a beta of 1.35. 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 one year low of $103.17 and a one year high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.40 by $0.04. Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. The firm had revenue of $4.37 billion during the quarter, compared to analysts' expectations of $4.17 billion. During the same quarter in the prior year, the firm earned $3.67 EPS. Research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 annualized dividend and a dividend yield of 1.50%. Steel Dynamics's payout ratio is 26.42%.

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

Analyst Ratings Changes

A number of equities analysts have weighed in on STLD shares. JPMorgan Chase & Co. upped their price target 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 shares of Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research report on Thursday, February 27th. Jefferies Financial Group upgraded Steel Dynamics from a "hold" rating to a "buy" rating and upped their price objective for the company from $125.00 to $145.00 in a research note on Friday, January 24th. Morgan Stanley set a $140.00 target price on Steel Dynamics and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Finally, StockNews.com lowered Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $147.44.

Insider Activity

In other news, SVP Glenn Pushis sold 23,649 shares of the business's stock in a transaction on 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 sale, the senior vice president now 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 filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 6.30% of the company's stock.

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.