Callan Family Office LLC Buys Shares of 2,356 Steel Dynamics, Inc. (NASDAQ:STLD)

Callan Family Office LLC bought a new stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 2,356 shares of the basic materials company's stock, valued at approximately $269,000.

Several other hedge funds have also recently added to or reduced their stakes in STLD. Harbour Capital Advisors LLC increased its holdings in Steel Dynamics by 133.7% in the fourth quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company's stock worth $1,301,000 after purchasing an additional 6,579 shares in the last quarter. Oak Thistle LLC bought a new stake in shares of Steel Dynamics in the 4th quarter valued at $1,725,000. Foster & Motley Inc. lifted its position in shares of Steel Dynamics by 8.0% during the 4th quarter. Foster & Motley Inc. now owns 35,299 shares of the basic materials company's stock valued at $4,027,000 after acquiring an additional 2,602 shares during the period. Larson Financial Group LLC boosted its stake in Steel Dynamics by 9,465.5% during the third quarter. Larson Financial Group LLC now owns 18,844 shares of the basic materials company's stock worth $2,376,000 after acquiring an additional 18,647 shares in the last quarter. Finally, Nordea Investment Management AB grew its holdings in Steel Dynamics by 22.4% in the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company's stock worth $158,487,000 after purchasing an additional 253,802 shares during the period. Institutional investors own 82.41% of the company's stock.

Insiders Place Their Bets

In other news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics 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 sale, the senior vice president now directly owns 122,140 shares in the company, valued at $16,448,593.80. The trade was a 16.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 6.10% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on STLD shares. Morgan Stanley upgraded shares of Steel Dynamics from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $145.00 to $158.00 in a report on Friday, March 7th. Wolfe Research raised Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research note on Thursday, February 27th. StockNews.com raised Steel Dynamics from a "sell" rating to a "hold" rating in a research note on Thursday, March 6th. BNP Paribas raised Steel Dynamics from a "neutral" rating to an "outperform" rating in a research report on Friday, January 3rd. Finally, The Goldman Sachs Group initiated coverage on Steel Dynamics in a report on Monday, December 2nd. They issued a "neutral" rating and a $155.00 target price on the stock. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $148.56.

Steel Dynamics Stock Up 3.1 %

STLD traded up $3.72 during mid-day trading on Wednesday, reaching $124.48. 995,162 shares of the stock were exchanged, compared to its average volume of 1,359,442. The company has a 50 day moving average price of $126.68 and a two-hundred day moving average price of $127.80. The stock has a market capitalization of $18.69 billion, a PE ratio of 12.69, a price-to-earnings-growth 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 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 data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) 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 quarter in the prior year, the company earned $2.61 earnings per share. As a group, research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

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

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be issued a dividend of $0.50 per share. This is a positive change from Steel Dynamics's previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Monday, March 31st. Steel Dynamics's dividend payout ratio (DPR) is 20.41%.

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.