NorthRock Partners LLC Invests $349,000 in Steel Dynamics, Inc. (NASDAQ:STLD)

NorthRock Partners LLC acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 3,061 shares of the basic materials company's stock, valued at approximately $349,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Atomi Financial Group Inc. lifted its stake 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 worth $220,000 after acquiring an additional 91 shares in the last quarter. Resonant Capital Advisors LLC increased its stake in 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 worth $366,000 after purchasing an additional 101 shares during the period. OneAscent Financial Services LLC lifted its position in shares of Steel Dynamics by 2.2% during the fourth quarter. OneAscent Financial Services LLC now owns 4,605 shares of the basic materials company's stock worth $527,000 after purchasing an additional 101 shares in the last quarter. Center For Asset Management LLC boosted its stake in shares of 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 valued at $371,000 after purchasing an additional 113 shares during the period. Finally, Cidel Asset Management Inc. boosted its stake in shares of Steel Dynamics by 6.2% in 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 during the period. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Miguel Alvarez sold 7,495 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $135.26, for a total value of $1,013,773.70. Following the completion of the sale, the senior vice president now owns 125,319 shares in the company, valued at approximately $16,950,647.94. The trade was a 5.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 6.30% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on STLD shares. Wolfe Research upgraded shares of Steel Dynamics from an "underperform" rating to a "peer perform" rating in a report on Thursday, February 27th. BMO Capital Markets upgraded Steel Dynamics from a "market perform" rating to an "outperform" rating and lifted their target price for the company from $135.00 to $145.00 in a report on Monday, March 31st. Jefferies Financial Group raised Steel Dynamics from a "hold" rating to a "buy" rating and increased their price target for the company from $125.00 to $145.00 in a research report on Friday, January 24th. 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 research note on Monday, March 24th. Finally, KeyCorp upgraded shares of Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 target price on the stock in a research note on Tuesday, February 11th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $147.44.

Steel Dynamics Stock Down 0.5%

Steel Dynamics stock traded down $0.68 during mid-day trading on Tuesday, hitting $135.38. The company had a trading volume of 913,655 shares, compared to its average volume of 1,507,776. 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 1 year low of $103.17 and a 1 year high of $155.56. The business has a fifty day moving average of $125.20 and a 200 day moving average of $128.25. The stock has a market cap of $20.10 billion, a price-to-earnings ratio of 13.81, a PEG ratio of 1.05 and a beta of 1.44.

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, beating analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $4.17 billion. During the same period last year, the firm posted $3.67 EPS. On average, sell-side analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics declared that its Board of Directors has approved a share 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 purchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are often a sign that the company's board of directors believes its stock is undervalued.

Steel Dynamics Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders of record on Monday, June 30th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.48%. The ex-dividend date is Monday, June 30th. Steel Dynamics's payout ratio is currently 26.42%.

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.