Steel Dynamics, Inc. (NASDAQ:STLD) Stock Holdings Lifted by Boothbay Fund Management LLC

Boothbay Fund Management LLC grew its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 59.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 83,459 shares of the basic materials company's stock after acquiring an additional 31,249 shares during the period. Boothbay Fund Management LLC owned about 0.05% of Steel Dynamics worth $9,520,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Coldstream Capital Management Inc. increased its holdings in Steel Dynamics by 2.9% in the fourth quarter. Coldstream Capital Management Inc. now owns 5,061 shares of the basic materials company's stock valued at $577,000 after buying an additional 144 shares during the last quarter. Two Sigma Securities LLC grew its position in shares of Steel Dynamics by 499.9% in the 4th quarter. Two Sigma Securities LLC now owns 4,799 shares of the basic materials company's stock worth $547,000 after acquiring an additional 5,999 shares in the last quarter. Lord Abbett & CO. LLC increased its holdings in shares of Steel Dynamics by 17.1% in the 4th quarter. Lord Abbett & CO. LLC now owns 1,192,552 shares of the basic materials company's stock valued at $136,034,000 after acquiring an additional 173,884 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new stake in shares of Steel Dynamics during the 4th quarter valued at approximately $258,000. Finally, Cartenna Capital LP lifted its stake in Steel Dynamics by 45.0% during the fourth quarter. Cartenna Capital LP now owns 413,272 shares of the basic materials company's stock worth $47,142,000 after purchasing an additional 128,272 shares during the last quarter. Institutional investors own 82.41% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. KeyCorp raised shares of Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 target price on the stock in a report on Tuesday, February 11th. BMO Capital Markets raised shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and raised their target price for the stock from $135.00 to $145.00 in a report on Monday, March 31st. BNP Paribas raised Steel Dynamics from a "neutral" rating to an "outperform" rating in a report on Friday, January 3rd. UBS Group upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price objective for the company in a research report on Monday, March 24th. Finally, StockNews.com lowered Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $147.44.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD traded up $0.60 during midday trading on Monday, reaching $127.94. 884,691 shares of the company traded hands, compared to its average volume of 1,500,722. The company has a market cap of $19.18 billion, a price-to-earnings ratio of 13.06, a PEG ratio of 1.05 and a beta of 1.35. The stock has a 50-day moving average price of $123.83 and a 200 day moving average price of $128.14. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $155.56. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share for the quarter, topping analysts' consensus estimates of $1.40 by $0.04. The company had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.17 billion. Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same period in the prior year, the business posted $3.67 EPS. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Announces Dividend

The company also recently declared 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 annualized dividend and a dividend yield of 1.56%. Steel Dynamics's dividend payout ratio (DPR) is presently 26.42%.

Steel Dynamics declared that its board has authorized a stock buyback plan on Monday, February 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the basic materials company to buy up to 7.4% of its stock through open market purchases. Stock buyback plans are often an indication that the company's management believes its stock is undervalued.

Insider Transactions at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics stock in a transaction dated 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 transaction, the senior vice president now directly owns 122,140 shares of the company's stock, valued at $16,448,593.80. The trade was a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 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.