BFI Infinity Ltd. Acquires New Position in Steel Dynamics, Inc. (NASDAQ:STLD)

BFI Infinity Ltd. acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 2,282 shares of the basic materials company's stock, valued at approximately $285,000.

Several other hedge funds also recently modified their holdings of STLD. IAG Wealth Partners LLC acquired a new stake in Steel Dynamics in the fourth quarter worth $39,000. Investment Management Corp VA ADV acquired a new position in shares of Steel Dynamics during the fourth quarter valued at about $40,000. Avalon Trust Co bought a new position in shares of Steel Dynamics during the 4th quarter worth about $42,000. Park Square Financial Group LLC acquired a new stake in shares of Steel Dynamics in the 4th quarter valued at about $45,000. Finally, Sunbelt Securities Inc. grew its stake in shares of Steel Dynamics by 100.0% in the 4th quarter. Sunbelt Securities Inc. now owns 400 shares of the basic materials company's stock valued at $46,000 after buying an additional 200 shares during the period. Institutional investors own 82.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on STLD shares. UBS Group upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price target on the stock in a report on Monday, March 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. Wolfe Research raised shares of Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research report on Thursday, February 27th. BMO Capital Markets upgraded shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and boosted their price target for the company from $135.00 to $145.00 in a research note on Monday, March 31st. Finally, Wall Street Zen lowered shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. 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. According to data from MarketBeat.com, Steel Dynamics currently has an average rating of "Moderate Buy" and an average price target of $147.44.

Steel Dynamics Stock Up 1.2%

Shares of NASDAQ STLD traded up $1.63 during trading on Friday, hitting $133.48. The stock had a trading volume of 1,258,551 shares, compared to its average volume of 1,541,677. The firm has a fifty day moving average of $127.95 and a two-hundred day moving average of $126.80. The company has a market capitalization of $19.82 billion, a PE ratio of 13.62, a PEG ratio of 1.05 and a beta of 1.38. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $155.56.

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

Steel Dynamics Announces Dividend

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

Steel Dynamics announced that its board has initiated a share buyback program on Monday, February 24th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the basic materials company to purchase up to 7.4% of its shares through open market purchases. Shares repurchase programs are typically a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In related news, Director Gabriel Shaheen sold 1,254 shares of the firm's stock in a transaction dated Friday, June 6th. The shares were sold at an average price of $134.11, for a total transaction of $168,173.94. Following the completion of the sale, the director now owns 81,812 shares in the company, valued at approximately $10,971,807.32. This trade represents a 1.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Miguel Alvarez sold 7,495 shares of the business's 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 completion of the transaction, 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 disclosure for this sale can be found here. 6.30% of the stock is currently owned by corporate insiders.

About Steel Dynamics

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.