Steel Dynamics, Inc. (NASDAQ:STLD) Shares Bought by Adage Capital Partners GP L.L.C.

Adage Capital Partners GP L.L.C. lifted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 5.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 168,300 shares of the basic materials company's stock after purchasing an additional 9,000 shares during the quarter. Adage Capital Partners GP L.L.C. owned about 0.11% of Steel Dynamics worth $19,198,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in STLD. Harbour Capital Advisors LLC lifted its holdings in Steel Dynamics by 133.7% during the 4th 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 purchased a new stake in shares of Steel Dynamics during the fourth quarter worth $1,725,000. Foster & Motley Inc. raised its stake in shares of Steel Dynamics by 8.0% in the fourth 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 in the last quarter. Nordea Investment Management AB boosted 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 valued at $158,487,000 after purchasing an additional 253,802 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in 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 worth $3,123,000 after purchasing an additional 2,287 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company's stock.

Steel Dynamics Trading Down 0.0 %

NASDAQ:STLD opened at $127.34 on Friday. The company has a market capitalization of $19.09 billion, a PE ratio of 12.99, a P/E/G ratio of 1.05 and a beta of 1.35. Steel Dynamics, Inc. has a 52-week low of $103.17 and a 52-week high of $155.56. The stock's 50 day moving average price is $124.00 and its 200 day moving average price is $128.16. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32.

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

Steel Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Monday, March 31st were paid a dividend of $0.50 per share. This is an increase from Steel Dynamics's previous quarterly dividend of $0.46. The ex-dividend date of this dividend was Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 1.57%. Steel Dynamics's dividend payout ratio is 26.42%.

Steel Dynamics announced that its Board of Directors has authorized a stock buyback program on Monday, February 24th that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the basic materials company to repurchase up to 7.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's board of directors believes its shares are undervalued.

Analysts Set New Price Targets

STLD has been the topic of a number of analyst reports. KeyCorp raised Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 price target on the stock in a research report on Tuesday, February 11th. JPMorgan Chase & Co. boosted their price target on shares of Steel Dynamics from $135.00 to $138.00 and gave the stock a "neutral" rating in a report on Thursday. Jefferies Financial Group raised shares of Steel Dynamics from a "hold" rating to a "buy" rating and lifted their price objective for the stock from $125.00 to $145.00 in a research report on Friday, January 24th. Morgan Stanley set a $140.00 target price on Steel Dynamics and gave the company an "overweight" rating in a report on Thursday. Finally, Wolfe Research raised Steel Dynamics from an "underperform" rating to a "peer perform" rating in a report on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $147.44.

Insider Buying and Selling

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the stock in a transaction that occurred 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 completion of 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 trade represents a 16.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 6.30% of the company's stock.

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.

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