Rhumbline Advisers Has $37.40 Million Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Rhumbline Advisers increased its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 14.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 298,976 shares of the basic materials company's stock after acquiring an additional 36,996 shares during the period. Rhumbline Advisers owned approximately 0.20% of Steel Dynamics worth $37,396,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BTC Capital Management Inc. grew its holdings in shares of Steel Dynamics by 2.1% during the first quarter. BTC Capital Management Inc. now owns 75,903 shares of the basic materials company's stock worth $9,495,000 after buying an additional 1,576 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Steel Dynamics by 6.3% during the 1st quarter. Parallel Advisors LLC now owns 1,734 shares of the basic materials company's stock valued at $217,000 after buying an additional 102 shares during the period. GAMMA Investing LLC increased its stake in Steel Dynamics by 18,398.4% during the first quarter. GAMMA Investing LLC now owns 447,661 shares of the basic materials company's stock worth $55,993,000 after acquiring an additional 445,241 shares during the last quarter. Versant Capital Management Inc increased its stake in Steel Dynamics by 130.1% during the first quarter. Versant Capital Management Inc now owns 504 shares of the basic materials company's stock worth $63,000 after acquiring an additional 285 shares during the last quarter. Finally, Boston Common Asset Management LLC raised its position in Steel Dynamics by 41.1% in the first quarter. Boston Common Asset Management LLC now owns 93,837 shares of the basic materials company's stock valued at $11,737,000 after purchasing an additional 27,344 shares during the period. Hedge funds and other institutional investors own 82.41% of the company's stock.

Steel Dynamics Stock Up 1.1%

Shares of STLD stock traded up $1.46 during trading hours on Friday, hitting $133.56. 1,018,732 shares of the company were exchanged, compared to its average volume of 1,539,661. The stock has a market capitalization of $19.83 billion, a price-to-earnings ratio of 13.63, a P/E/G ratio of 1.05 and a beta of 1.38. The business's 50-day simple moving average is $125.98 and its two-hundred day simple moving average is $127.25. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. 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 issued its quarterly 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. The company had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.17 billion. Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same period last year, the company earned $3.67 earnings per share. Sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Dividend Announcement

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 annualized dividend and a yield of 1.50%. The ex-dividend date is Monday, June 30th. Steel Dynamics's payout ratio is 26.42%.

Steel Dynamics announced that its Board of Directors has authorized a share repurchase plan on Monday, February 24th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the basic materials company to purchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. JPMorgan Chase & Co. increased 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. BMO Capital Markets upgraded Steel Dynamics from a "market perform" rating to an "outperform" rating and upped their price target for the stock from $135.00 to $145.00 in a research note on Monday, March 31st. Wolfe Research upgraded Steel Dynamics from an "underperform" rating to a "peer perform" rating in a report on Thursday, February 27th. Morgan Stanley set a $140.00 price target on shares of Steel Dynamics and gave the stock an "overweight" rating in a research note on Thursday, April 24th. Finally, Wall Street Zen lowered shares of Steel Dynamics from a "hold" rating to a "sell" rating in a report on Friday, April 25th. One 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 data from MarketBeat, Steel Dynamics presently has an average rating of "Moderate Buy" and a consensus target price of $147.44.

Insider Buying and Selling

In other Steel Dynamics news, SVP Miguel Alvarez sold 7,495 shares of the company's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total value of $1,013,773.70. Following the transaction, the senior vice president now owns 125,319 shares in the company, valued at approximately $16,950,647.94. This represents a 5.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 6.30% of the company's stock.

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.