Alpine Woods Capital Investors LLC Invests $593,000 in Steel Dynamics, Inc. (NASDAQ:STLD)

Alpine Woods Capital Investors LLC acquired a new position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 5,200 shares of the basic materials company's stock, valued at approximately $593,000.

A number of other large investors have also modified their holdings of STLD. Commerce Bank lifted its stake in Steel Dynamics by 1.2% during the third quarter. Commerce Bank now owns 5,981 shares of the basic materials company's stock valued at $754,000 after buying an additional 73 shares in the last quarter. M&T Bank Corp lifted its position in shares of Steel Dynamics by 0.9% in the third quarter. M&T Bank Corp now owns 10,055 shares of the basic materials company's stock worth $1,267,000 after purchasing an additional 88 shares in the last quarter. Atomi Financial Group Inc. lifted 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 worth $220,000 after purchasing an additional 91 shares in the last quarter. Prime Capital Investment Advisors LLC lifted its position in shares of Steel Dynamics by 2.0% in the third quarter. Prime Capital Investment Advisors LLC now owns 5,041 shares of the basic materials company's stock worth $636,000 after purchasing an additional 99 shares in the last quarter. Finally, Resonant Capital Advisors LLC lifted its position in shares of Steel Dynamics by 3.3% in the fourth 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. Institutional investors and hedge funds own 82.41% of the company's stock.

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Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. BNP Paribas raised shares of Steel Dynamics from a "neutral" rating to an "outperform" rating in a research report on Friday, January 3rd. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $132.00 to $140.00 and gave the company a "neutral" rating in a report on Tuesday, March 11th. StockNews.com upgraded shares of Steel Dynamics from a "sell" rating to a "hold" rating in a research note on Thursday, March 6th. Citigroup decreased their price target on shares of Steel Dynamics from $160.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. Finally, Jefferies Financial Group raised Steel Dynamics from a "hold" rating to a "buy" rating and lifted their price objective for the company from $125.00 to $145.00 in a report on Friday, January 24th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $148.56.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics 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 completion of the sale, the senior vice president now owns 122,140 shares of the company's stock, valued at approximately $16,448,593.80. The trade was a 16.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 6.00% of the company's stock.

Steel Dynamics Price Performance

Shares of Steel Dynamics stock traded up $2.15 during midday trading on Tuesday, reaching $127.09. The company had a trading volume of 1,911,179 shares, compared to its average volume of 1,364,181. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. The company has a market capitalization of $19.08 billion, a price-to-earnings ratio of 12.97, a price-to-earnings-growth ratio of 1.05 and a beta of 1.34. The stock has a fifty day simple moving average of $127.50 and a 200 day simple moving average of $127.93. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings results 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 net margin of 8.76% and a return on equity of 17.32%. During the same quarter last year, the business posted $2.61 earnings per share. As a group, equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Steel Dynamics's previous quarterly dividend of $0.46. Steel Dynamics's payout ratio is currently 20.41%.

Steel Dynamics declared that its Board of Directors has authorized a share repurchase 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 repurchase up to 7.4% of its shares through open market purchases. Shares buyback programs are usually an indication that the company's leadership 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.