Boston Common Asset Management LLC Increases Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Boston Common Asset Management LLC grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 41.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 93,837 shares of the basic materials company's stock after purchasing an additional 27,344 shares during the period. Boston Common Asset Management LLC owned approximately 0.06% of Steel Dynamics worth $11,737,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Activity

In other news, SVP Miguel Alvarez sold 7,495 shares of the stock in a transaction that occurred on 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 directly owns 125,319 shares of the company's stock, valued at $16,950,647.94. This represents a 5.64% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.30% of the company's stock.

Analyst Ratings Changes

STLD has been the subject of several recent research reports. Wolfe Research raised shares of Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research report on Thursday, February 27th. JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $135.00 to $138.00 and gave the stock a "neutral" rating in a research report on Thursday, April 24th. Wall Street Zen downgraded shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday, April 25th. Morgan Stanley set a $140.00 target price on shares of Steel Dynamics and gave the stock an "overweight" rating in a research report on Thursday, April 24th. Finally, UBS Group raised shares of Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 target price for the company in a research report on Monday, March 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Steel Dynamics currently has an average rating of "Moderate Buy" and an average target price of $147.44.

Steel Dynamics Stock Up 9.6%

STLD stock traded up $11.83 during trading on Monday, reaching $134.90. The stock had a trading volume of 2,013,388 shares, compared to its average volume of 1,531,007. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $155.56. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. The company's 50 day moving average is $125.29 and its two-hundred day moving average is $127.22. The company has a market capitalization of $20.03 billion, a price-to-earnings ratio of 13.72, a P/E/G ratio of 1.05 and a beta of 1.44.

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. Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. The business had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.17 billion. During the same period in the prior year, the firm posted $3.67 EPS. Equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

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

Steel Dynamics Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Stockholders 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 1.48%. The ex-dividend date is Monday, June 30th. Steel Dynamics's dividend payout ratio is currently 26.42%.

Steel Dynamics 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.