Price T Rowe Associates Inc. MD Raises Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Price T Rowe Associates Inc. MD lifted its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 8.7% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 5,628,403 shares of the basic materials company's stock after purchasing an additional 451,630 shares during the period. Price T Rowe Associates Inc. MD owned 3.70% of Steel Dynamics worth $642,033,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Atomi Financial Group Inc. boosted its position in shares of Steel Dynamics by 5.0% in the fourth quarter. Atomi Financial Group Inc. now owns 1,929 shares of the basic materials company's stock valued at $220,000 after acquiring an additional 91 shares during the period. Resonant Capital Advisors LLC grew its position in shares of Steel Dynamics by 3.3% during the 4th 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 in the last quarter. OneAscent Financial Services LLC increased its holdings 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 during the period. 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 buying an additional 113 shares during the period. Finally, Cidel Asset Management Inc. increased its stake in Steel Dynamics by 6.2% during the 4th quarter. Cidel Asset Management Inc. now owns 2,036 shares of the basic materials company's stock worth $232,000 after acquiring an additional 118 shares during the period. 82.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total value of $3,184,810.83. Following the completion of the sale, the senior vice president now directly owns 122,140 shares of the company's stock, valued at approximately $16,448,593.80. This represents a 16.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 6.30% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on STLD. BMO Capital Markets upgraded Steel Dynamics from a "market perform" rating to an "outperform" rating and raised their price target for the stock from $135.00 to $145.00 in a research report on Monday, March 31st. KeyCorp raised shares of Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 price objective on the stock in a research note on Tuesday, February 11th. UBS Group upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 target price for the company in a research note on Monday, March 24th. StockNews.com lowered Steel Dynamics from a "hold" rating to a "sell" rating in a research note on Friday, April 25th. Finally, Wolfe Research upgraded Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research report on Thursday, February 27th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, Steel Dynamics currently has a consensus rating of "Moderate Buy" and a consensus target price of $147.44.

Steel Dynamics Trading Down 0.0 %

Shares of NASDAQ STLD traded down $0.02 during midday trading on Wednesday, reaching $129.27. The stock had a trading volume of 338,842 shares, compared to its average volume of 1,497,691. Steel Dynamics, Inc. has a twelve month low of $103.17 and a twelve month high of $155.56. The company's 50 day moving average price is $123.71 and its 200 day moving average price is $128.15. The firm has a market cap of $19.38 billion, a price-to-earnings ratio of 13.18, a price-to-earnings-growth ratio of 1.05 and a beta of 1.35. 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 (NASDAQ:STLD - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share for the quarter, beating the consensus estimate of $1.40 by $0.04. Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. The company had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.17 billion. During the same quarter in the previous year, the business posted $3.67 EPS. As a group, sell-side analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics declared that its board has authorized a share repurchase plan 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 purchase up to 7.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company's board of directors believes its shares are undervalued.

Steel Dynamics Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be issued 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 1.55%. Steel Dynamics's dividend payout ratio is presently 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.