3,204 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Acquired by City National Bank of Florida MSD

City National Bank of Florida MSD purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,204 shares of the basic materials company's stock, valued at approximately $365,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of STLD. Foster & Motley Inc. increased its holdings in shares of Steel Dynamics by 8.0% during the 4th quarter. Foster & Motley Inc. now owns 35,299 shares of the basic materials company's stock worth $4,027,000 after buying an additional 2,602 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its holdings in shares of Steel Dynamics by 9.1% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 27,373 shares of the basic materials company's stock worth $3,123,000 after purchasing an additional 2,287 shares during the period. Jones Financial Companies Lllp lifted its stake in shares of Steel Dynamics by 41.8% in the 4th quarter. Jones Financial Companies Lllp now owns 3,794 shares of the basic materials company's stock valued at $433,000 after purchasing an additional 1,119 shares in the last quarter. Swedbank AB grew its holdings in shares of Steel Dynamics by 4.5% during the 4th quarter. Swedbank AB now owns 219,076 shares of the basic materials company's stock worth $24,990,000 after purchasing an additional 9,462 shares during the period. Finally, MFG Wealth Management Inc. acquired a new stake in Steel Dynamics during the 4th quarter worth approximately $1,337,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on STLD shares. Wolfe Research raised shares of Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research report on Thursday, February 27th. StockNews.com lowered shares of Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. Jefferies Financial Group raised shares of Steel Dynamics from a "hold" rating to a "buy" rating and upped their price target for the stock from $125.00 to $145.00 in a research report on Friday, January 24th. Morgan Stanley set a $140.00 price target on Steel Dynamics and gave the company an "overweight" rating in a report on Thursday, April 24th. Finally, UBS Group upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price objective on the stock in a research note on Monday, March 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $147.44.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $132.21 on Thursday. The firm has a 50-day moving average of $125.31 and a two-hundred day moving average of $128.28. 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 stock has a market cap of $19.63 billion, a P/E ratio of 13.49, a PEG ratio of 1.05 and a beta of 1.44. Steel Dynamics, Inc. has a 1-year low of $103.17 and a 1-year high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly 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. The business had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.17 billion. 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 firm posted $3.67 earnings per share. On average, research analysts expect 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. Investors 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 dividend on an annualized basis and a dividend yield of 1.51%. Steel Dynamics's dividend payout ratio (DPR) is presently 26.42%.

Steel Dynamics declared that its board has approved a share repurchase program on Monday, February 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the basic materials company to buy up to 7.4% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling

In other news, SVP Miguel Alvarez sold 7,495 shares of the stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the transaction, the senior vice president now owns 125,319 shares of the company's stock, valued at approximately $16,950,647.94. This trade represents a 5.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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.

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