Jump Financial LLC Sells 9,417 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Jump Financial LLC reduced its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 63.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,365 shares of the basic materials company's stock after selling 9,417 shares during the quarter. Jump Financial LLC's holdings in Steel Dynamics were worth $612,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new position in Steel Dynamics in the 4th quarter worth $336,426,000. Lord Abbett & CO. LLC raised its holdings in Steel Dynamics by 116.5% during the third quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company's stock valued at $128,434,000 after acquiring an additional 548,086 shares during the period. Nordea Investment Management AB lifted its position 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 valued at $158,487,000 after acquiring an additional 253,802 shares in the last quarter. Aware Super Pty Ltd as trustee of Aware Super bought a new position in shares of Steel Dynamics in the fourth quarter worth about $23,252,000. Finally, ExodusPoint Capital Management LP grew its position in shares of Steel Dynamics by 90.3% during the fourth quarter. ExodusPoint Capital Management LP now owns 406,343 shares of the basic materials company's stock worth $46,352,000 after purchasing an additional 192,767 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Trading Down 0.0 %

Shares of NASDAQ STLD traded down $0.04 during trading hours on Friday, hitting $127.34. 774,474 shares of the company traded hands, compared to its average volume of 1,503,196. The stock has a market capitalization of $19.09 billion, a price-to-earnings ratio of 12.99, a price-to-earnings-growth ratio of 1.05 and a beta of 1.35. The company's 50 day moving average price is $124.00 and its 200 day moving average price is $128.16. Steel Dynamics, Inc. has a 12 month low of $103.17 and a 12 month high of $155.56. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32.

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

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Monday, March 31st were issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.57%. 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. Steel Dynamics's dividend payout ratio is presently 26.42%.

Steel Dynamics declared that its board has approved a stock repurchase program on Monday, February 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the basic materials company to purchase up to 7.4% of its stock through open market purchases. Stock buyback programs are generally a sign that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

Several research firms have weighed in on STLD. StockNews.com downgraded Steel Dynamics from a "hold" rating to a "sell" rating in a research note on Friday. BMO Capital Markets upgraded shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and upped their target price for the stock from $135.00 to $145.00 in a research report on Monday, March 31st. BNP Paribas upgraded shares of Steel Dynamics from a "neutral" rating to an "outperform" rating in a report on Friday, January 3rd. JPMorgan Chase & Co. increased their price objective on shares of Steel Dynamics from $135.00 to $138.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Jefferies Financial Group upgraded Steel Dynamics from a "hold" rating to a "buy" rating and raised their price objective for the company from $125.00 to $145.00 in a research report on Friday, January 24th. One 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 company's stock. Based on data from MarketBeat.com, the stock presently 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 company's stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total value of $3,184,810.83. Following the transaction, the senior vice president now directly owns 122,140 shares in the company, valued at $16,448,593.80. This represents a 16.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.30% of the stock is owned by corporate insiders.

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.