Sterling Capital Management LLC Boosts Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Sterling Capital Management LLC lifted its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 52.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,627 shares of the basic materials company's stock after buying an additional 2,961 shares during the period. Sterling Capital Management LLC's holdings in Steel Dynamics were worth $984,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in STLD. Barclays PLC grew its position in Steel Dynamics by 21.8% during the third quarter. Barclays PLC now owns 448,942 shares of the basic materials company's stock valued at $56,603,000 after buying an additional 80,262 shares during the period. Sanctuary Advisors LLC grew its position in shares of Steel Dynamics by 10.4% during the 3rd quarter. Sanctuary Advisors LLC now owns 16,881 shares of the basic materials company's stock valued at $2,128,000 after acquiring an additional 1,596 shares during the period. World Investment Advisors LLC purchased a new stake in shares of Steel Dynamics in the 3rd quarter worth $15,880,000. Wilmington Savings Fund Society FSB bought a new position in Steel Dynamics in the 3rd quarter worth $25,000. Finally, Tidal Investments LLC grew its holdings in Steel Dynamics by 6.4% during the third quarter. Tidal Investments LLC now owns 26,413 shares of the basic materials company's stock valued at $3,330,000 after purchasing an additional 1,585 shares during the period. Institutional investors own 82.41% of the company's stock.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the business'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 completion of the transaction, the senior vice president now directly owns 122,140 shares in the company, valued at approximately $16,448,593.80. The trade was a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.30% of the company's stock.

Steel Dynamics Trading Up 0.9 %

NASDAQ STLD traded up $1.08 during trading hours on Friday, hitting $118.29. 1,049,759 shares of the company were exchanged, compared to its average volume of 1,505,000. The stock has a market cap of $17.73 billion, a PE ratio of 12.07, 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 stock has a 50-day moving average price of $125.36 and a 200 day moving average price of $128.40. 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 posted its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share 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 in the prior year, the firm posted $2.61 EPS. Analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics declared that its board has initiated a share buyback program on Monday, February 24th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the basic materials company to buy up to 7.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Monday, March 31st were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.69%. This is a boost from Steel Dynamics's previous quarterly dividend of $0.46. The ex-dividend date was Monday, March 31st. Steel Dynamics's payout ratio is 20.41%.

Wall Street Analyst Weigh In

STLD has been the subject of a number of recent research reports. BMO Capital Markets upgraded Steel Dynamics from a "market perform" rating to an "outperform" rating and boosted their price objective for the company from $135.00 to $145.00 in a research note on Monday, March 31st. BNP Paribas upgraded shares of Steel Dynamics from a "neutral" rating to an "outperform" rating in a research report on Friday, January 3rd. UBS Group upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price target for the company in a research note on Monday, March 24th. Wolfe Research upgraded Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research report on Thursday, February 27th. Finally, Jefferies Financial Group upgraded Steel Dynamics from a "hold" rating to a "buy" rating and increased their target price for the stock from $125.00 to $145.00 in a research report on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, Steel Dynamics has an average rating of "Moderate Buy" and an average price target 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.