Steel Dynamics, Inc. (NASDAQ:STLD) Stock Holdings Increased by Jones Financial Companies Lllp

Jones Financial Companies Lllp lifted its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 41.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,794 shares of the basic materials company’s stock after acquiring an additional 1,119 shares during the period. Jones Financial Companies Lllp’s holdings in Steel Dynamics were worth $433,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Concurrent Investment Advisors LLC acquired a new stake in shares of Steel Dynamics during the 3rd quarter valued at about $227,000. Atria Investments Inc boosted its stake in Steel Dynamics by 30.8% in the 3rd quarter. Atria Investments Inc now owns 18,335 shares of the basic materials company’s stock valued at $2,312,000 after buying an additional 4,319 shares in the last quarter. Covestor Ltd lifted its holdings in Steel Dynamics by 10.8% during the 3rd quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock valued at $120,000 after purchasing an additional 93 shares during the last quarter. Addison Advisors LLC bought a new stake in shares of Steel Dynamics during the third quarter worth $82,000. Finally, Laffer Tengler Investments Inc. grew its stake in shares of Steel Dynamics by 2.0% during the third quarter. Laffer Tengler Investments Inc. now owns 52,657 shares of the basic materials company’s stock valued at $6,639,000 after purchasing an additional 1,050 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on STLD. Morgan Stanley raised shares of Steel Dynamics from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $145.00 to $158.00 in a research note on Friday. StockNews.com upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday, March 6th. UBS Group reiterated a “neutral” rating and issued a $149.00 price target (up previously from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. KeyCorp raised shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a research report on Tuesday, February 11th. Finally, The Goldman Sachs Group started coverage on Steel Dynamics in a research note on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price target for the company. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Steel Dynamics currently has a consensus rating of “Moderate Buy” and an average target price of $147.67.

Insider Transactions at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the transaction, the senior vice president now directly owns 122,140 shares of the company’s stock, valued at $16,448,593.80. This represents a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.00% of the company’s stock.

Steel Dynamics Trading Down 4.5 %

Shares of STLD opened at $119.40 on Tuesday. The firm has a market cap of $17.93 billion, a price-to-earnings ratio of 12.18, a PEG ratio of 1.05 and a beta of 1.34. 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 52-week low of $104.60 and a 52-week high of $155.56. The business’s fifty day moving average is $126.55 and its 200-day moving average is $127.80.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same period in the prior year, the business posted $2.61 EPS. Equities analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be paid a $0.50 dividend. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 1.68%. Steel Dynamics’s dividend payout ratio is presently 20.41%.

Steel Dynamics announced that its Board of Directors has approved a share buyback plan on Monday, February 24th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the basic materials company to buy up to 7.4% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s board believes its stock is undervalued.

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.