Steel Dynamics, Inc. (NASDAQ:STLD) Shares Acquired by American Century Companies Inc.

American Century Companies Inc. lifted its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 7.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 262,847 shares of the basic materials company's stock after purchasing an additional 17,715 shares during the period. American Century Companies Inc. owned about 0.17% of Steel Dynamics worth $29,983,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently bought and sold shares of the company. Harbour Capital Advisors LLC increased its stake in shares of 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 purchasing an additional 6,579 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of Steel Dynamics during the fourth quarter valued at approximately $1,725,000. Foster & Motley Inc. lifted its position 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 stake in shares of 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 acquiring an additional 253,802 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of Steel Dynamics by 9.1% during the fourth 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. Institutional investors and hedge funds own 82.41% of the company's stock.

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Steel Dynamics Trading Up 2.7 %

Shares of Steel Dynamics stock traded up $3.36 during trading hours on Wednesday, hitting $127.36. The company's stock had a trading volume of 1,261,948 shares, compared to its average volume of 1,457,384. The firm has a fifty day moving average of $128.52 and a 200-day moving average of $128.97. 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 stock has a market cap of $19.09 billion, a price-to-earnings ratio of 13.00, a P/E/G ratio of 1.05 and a beta of 1.34. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing analysts' consensus estimates of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same quarter last year, the firm posted $2.61 earnings per share. Research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

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

Steel Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.57%. This is a boost from Steel Dynamics's previous quarterly dividend of $0.46. The ex-dividend date is Monday, March 31st. Steel Dynamics's dividend payout ratio is 20.41%.

Insider Transactions at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of the 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 owns 122,140 shares of the company's stock, valued at approximately $16,448,593.80. This represents a 16.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 6.30% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on STLD shares. Jefferies Financial Group raised shares of Steel Dynamics from a "hold" rating to a "buy" rating and upped their target price for the stock from $125.00 to $145.00 in a report on Friday, January 24th. Citigroup cut their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Morgan Stanley raised shares of Steel Dynamics from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $145.00 to $158.00 in a research note on Friday, March 7th. JPMorgan Chase & Co. increased their price target on Steel Dynamics from $132.00 to $140.00 and gave the company a "neutral" rating in a report on Tuesday, March 11th. Finally, Wolfe Research raised Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research note on Thursday, February 27th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $149.67.

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.