Steel Dynamics, Inc. (NASDAQ:STLD) Shares Purchased by Johnson Financial Group Inc.

Johnson Financial Group Inc. raised its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 258.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,836 shares of the basic materials company's stock after acquiring an additional 2,045 shares during the quarter. Johnson Financial Group Inc.'s holdings in Steel Dynamics were worth $324,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Barclays PLC raised its stake in Steel Dynamics by 21.8% during the 3rd quarter. Barclays PLC now owns 448,942 shares of the basic materials company's stock valued at $56,603,000 after acquiring an additional 80,262 shares during the last quarter. World Investment Advisors LLC purchased a new stake in shares of Steel Dynamics in the 3rd quarter worth about $15,880,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Steel Dynamics in the 3rd quarter worth about $25,000. Tidal Investments LLC boosted its position in shares of Steel Dynamics by 6.4% in the 3rd quarter. Tidal Investments LLC now owns 26,413 shares of the basic materials company's stock worth $3,330,000 after buying an additional 1,585 shares in the last quarter. Finally, Oddo BHF Asset Management Sas purchased a new stake in shares of Steel Dynamics in the 3rd quarter worth about $650,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of the business's 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 completion of the transaction, the senior vice president now owns 122,140 shares of the company's stock, valued at approximately $16,448,593.80. The trade was a 16.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.30% of the stock is currently owned by corporate insiders.

Steel Dynamics Stock Down 0.0 %

Shares of NASDAQ:STLD opened at $127.34 on Monday. 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 company has a market cap of $19.09 billion, a PE ratio of 12.99, a price-to-earnings-growth 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 firm has a 50 day simple moving average of $124.00 and a 200 day simple moving average of $128.16.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.17 billion. During the same quarter in the prior year, the firm earned $3.67 EPS. As a group, research analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics declared that its board has authorized a stock repurchase program on Monday, February 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the basic materials company to reacquire up to 7.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board believes its shares are undervalued.

Steel Dynamics Increases Dividend

The business also recently declared 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 represents a $2.00 annualized dividend and a dividend yield of 1.57%. The ex-dividend date was Monday, March 31st. This is an increase from Steel Dynamics's previous quarterly dividend of $0.46. Steel Dynamics's dividend payout ratio is 26.42%.

Analysts Set New Price Targets

A number of research analysts have issued reports on STLD shares. Wolfe Research upgraded shares of 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 objective on the stock in a report on Tuesday, February 11th. Morgan Stanley set a $140.00 price objective on shares of Steel Dynamics and gave the stock an "overweight" rating in a report on Thursday. StockNews.com downgraded shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday. Finally, BMO Capital Markets raised shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and increased their target price for the stock from $135.00 to $145.00 in a research report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $147.44.

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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