Advisory Services Network LLC Acquires 2,799 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Advisory Services Network LLC increased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 8.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 37,620 shares of the basic materials company's stock after acquiring an additional 2,799 shares during the period. Advisory Services Network LLC's holdings in Steel Dynamics were worth $4,291,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of STLD. Wilmington Savings Fund Society FSB acquired a new stake in Steel Dynamics during the third quarter valued at $25,000. ORG Wealth Partners LLC acquired a new stake in shares of Steel Dynamics during the 4th quarter valued at about $28,000. IAG Wealth Partners LLC bought a new stake in shares of Steel Dynamics in the 4th quarter valued at approximately $39,000. Avalon Trust Co acquired a new position in Steel Dynamics in the fourth quarter worth approximately $42,000. Finally, Golden State Wealth Management LLC bought a new position in Steel Dynamics during the fourth quarter valued at approximately $48,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently weighed in on STLD. Jefferies Financial Group upgraded shares of Steel Dynamics from a "hold" rating to a "buy" rating and raised their price target for the company from $125.00 to $145.00 in a report on Friday, January 24th. Morgan Stanley raised 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, March 7th. StockNews.com raised Steel Dynamics from a "sell" rating to a "hold" rating in a research report on Thursday, March 6th. Citigroup lowered their price target on Steel Dynamics from $160.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. Finally, KeyCorp upgraded 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 note on Tuesday, February 11th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $149.67.

Steel Dynamics Stock Performance

STLD traded down $0.07 on Tuesday, hitting $118.68. 329,257 shares of the stock traded hands, compared to its average volume of 1,498,798. The business has a fifty day moving average price of $126.39 and a two-hundred day moving average price of $128.68. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $155.56. The firm has a market capitalization of $17.79 billion, a PE ratio of 12.11, a P/E/G ratio of 1.05 and a beta of 1.35.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing the consensus estimate 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 firm earned $2.61 earnings per share. On average, research analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Monday, March 31st were paid a dividend of $0.50 per share. This is a boost from Steel Dynamics's previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 1.69%. Steel Dynamics's dividend payout ratio (DPR) is currently 20.41%.

Steel Dynamics announced that its Board of Directors has authorized a stock buyback program 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 programs are usually a sign that the company's management believes its shares are undervalued.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics 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 transaction of $3,184,810.83. Following the completion of the transaction, the senior vice president now directly owns 122,140 shares in the company, valued at $16,448,593.80. This represents a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 6.30% of the company's stock.

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.