Savvy Advisors Inc. Acquires Shares of 2,848 Steel Dynamics, Inc. (NASDAQ:STLD)

Savvy Advisors Inc. purchased a new stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 2,848 shares of the basic materials company's stock, valued at approximately $325,000.

Other large investors also recently made changes to their positions in the company. Harbour Capital Advisors LLC boosted its holdings in Steel Dynamics by 133.7% during the fourth quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company's stock worth $1,301,000 after buying an additional 6,579 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of Steel Dynamics in the 4th quarter valued at about $1,725,000. Foster & Motley Inc. lifted its position in Steel Dynamics by 8.0% in the 4th quarter. Foster & Motley Inc. now owns 35,299 shares of the basic materials company's stock worth $4,027,000 after buying an additional 2,602 shares in the last quarter. Nordea Investment Management AB boosted its stake in shares of Steel Dynamics by 22.4% during the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company's stock valued at $158,487,000 after buying an additional 253,802 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its holdings in shares of Steel Dynamics by 9.1% during the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 27,373 shares of the basic materials company's stock valued at $3,123,000 after acquiring an additional 2,287 shares in the last quarter. Institutional investors own 82.41% of the company's stock.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the company's stock in a transaction dated 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 sale, the senior vice president now directly owns 122,140 shares of the company's stock, valued at approximately $16,448,593.80. This represents a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.30% of the stock is currently owned by insiders.

Steel Dynamics Stock Performance

Shares of NASDAQ:STLD traded up $1.08 on Friday, hitting $118.29. 1,049,759 shares of the company were exchanged, compared to its average volume of 1,504,314. The company's 50 day moving average price is $125.69 and its two-hundred day moving average price is $128.47. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. The firm has a market capitalization of $17.73 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.05 and a beta of 1.35. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $155.56.

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. Research analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics declared that its Board of Directors has initiated a stock buyback program on Monday, February 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the basic materials company to reacquire up to 7.4% of its stock through open market purchases. Stock buyback programs are generally an indication that the company's leadership believes its shares are undervalued.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Monday, March 31st were paid a $0.50 dividend. This is a positive change from Steel Dynamics's previous quarterly dividend of $0.46. This represents a $2.00 annualized dividend and a dividend yield of 1.69%. The ex-dividend date of this dividend was Monday, March 31st. Steel Dynamics's dividend payout ratio is currently 20.41%.

Analyst Ratings Changes

STLD has been the subject of a number of research reports. UBS Group raised 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. JPMorgan Chase & Co. reduced their price target on Steel Dynamics from $140.00 to $135.00 and set a "neutral" rating for the company in a report on Wednesday. Wolfe Research raised shares of Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research report on Thursday, February 27th. StockNews.com upgraded shares of Steel Dynamics from a "sell" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, BNP Paribas raised shares of Steel Dynamics from a "neutral" rating to an "outperform" rating in a research note on Friday, January 3rd. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $149.11.

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.