Steel Dynamics, Inc. (NASDAQ:STLD) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. grew its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 222,356 shares of the basic materials company's stock after buying an additional 9,822 shares during the period. Envestnet Asset Management Inc. owned approximately 0.15% of Steel Dynamics worth $25,364,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. M&T Bank Corp increased its stake 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 buying an additional 88 shares during the period. Atomi Financial Group Inc. raised its position in shares of Steel Dynamics by 5.0% in the 4th 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 during the last quarter. Resonant Capital Advisors LLC increased its position in shares of Steel Dynamics by 3.3% during the fourth quarter. Resonant Capital Advisors LLC now owns 3,200 shares of the basic materials company's stock valued at $366,000 after acquiring an additional 101 shares in the last quarter. OneAscent Financial Services LLC increased its holdings in Steel Dynamics by 2.2% in the 4th quarter. OneAscent Financial Services LLC now owns 4,605 shares of the basic materials company's stock worth $527,000 after buying an additional 101 shares in the last quarter. Finally, Center For Asset Management LLC raised its holdings in shares of Steel Dynamics by 3.6% during the fourth quarter. Center For Asset Management LLC now owns 3,252 shares of the basic materials company's stock valued at $371,000 after purchasing an additional 113 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company's stock.

Steel Dynamics Trading Up 0.9 %

NASDAQ STLD traded up $1.08 on Friday, reaching $118.29. The stock had a trading volume of 1,049,759 shares, compared to its average volume of 1,505,000. The firm has a market capitalization of $17.73 billion, a price-to-earnings ratio of 12.07, a P/E/G ratio of 1.05 and a beta of 1.35. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. The stock has a fifty day moving average price of $125.36 and a two-hundred day moving average price of $128.40. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month 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 (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 previous year, the company posted $2.61 earnings per share. As a group, sell-side analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

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 repurchase up to 7.4% of its stock through open market purchases. Stock buyback plans are generally a sign that the company's management believes its stock is undervalued.

Steel Dynamics Increases Dividend

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

Insider Activity

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the firm's stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $134.67, for a total value 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. This trade represents a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.30% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently commented on STLD shares. UBS Group raised Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price objective on the stock in a research note on Monday, March 24th. BNP Paribas upgraded Steel Dynamics from a "neutral" rating to an "outperform" rating in a report on Friday, January 3rd. Wolfe Research upgraded Steel Dynamics from an "underperform" rating to a "peer perform" rating in a report on Thursday, February 27th. KeyCorp upgraded shares of Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 price target for the company in a report on Tuesday, February 11th. Finally, Morgan Stanley raised shares of Steel Dynamics from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $145.00 to $158.00 in a research note on Friday, March 7th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $149.11.

About Steel Dynamics

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.