WINTON GROUP Ltd Takes $495,000 Position in Steel Dynamics, Inc. (NASDAQ:STLD)

WINTON GROUP Ltd bought a new position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 4,341 shares of the basic materials company's stock, valued at approximately $495,000.

A number of other institutional investors have also bought and sold shares of the business. Harbour Capital Advisors LLC boosted its stake in shares of Steel Dynamics by 133.7% in the fourth quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company's stock worth $1,301,000 after acquiring an additional 6,579 shares during the period. Oak Thistle LLC purchased a new position in Steel Dynamics in the 4th quarter worth approximately $1,725,000. Foster & Motley Inc. boosted its stake in Steel Dynamics by 8.0% in the 4th quarter. Foster & Motley Inc. now owns 35,299 shares of the basic materials company's stock worth $4,027,000 after purchasing an additional 2,602 shares during the period. Nordea Investment Management AB grew its holdings in Steel Dynamics by 22.4% during the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company's stock valued at $158,487,000 after buying an additional 253,802 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised 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 valued at $3,123,000 after buying an additional 2,287 shares during the last quarter. Hedge funds and other institutional investors own 82.41% of the company's stock.

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Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the business's 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 transaction, the senior vice president now owns 122,140 shares in the company, valued at $16,448,593.80. The trade was a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 6.30% of the stock is currently owned by insiders.

Steel Dynamics Trading Down 8.6 %

Shares of NASDAQ:STLD traded down $10.03 during trading on Friday, hitting $106.03. The company had a trading volume of 415,208 shares, compared to its average volume of 1,857,413. The stock has a market cap of $15.89 billion, a price-to-earnings ratio of 10.79, a price-to-earnings-growth ratio of 1.05 and a beta of 1.34. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. The company has a fifty day simple moving average of $128.40 and a two-hundred day simple moving average of $128.88. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing the consensus estimate 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 period in the previous year, the business posted $2.61 EPS. As a group, equities analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics announced that its Board of Directors has initiated a share buyback 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 repurchase 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 company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be paid a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This is a boost from Steel Dynamics's previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.89%. Steel Dynamics's payout ratio is currently 20.41%.

Analyst Ratings Changes

STLD has been the subject of a number of research reports. BNP Paribas upgraded shares of Steel Dynamics from a "neutral" rating to an "outperform" rating in a research report on Friday, January 3rd. Wolfe Research raised shares of Steel Dynamics from an "underperform" rating to a "peer perform" rating in a report on Thursday, February 27th. JPMorgan Chase & Co. lifted their target price on Steel Dynamics from $132.00 to $140.00 and gave the stock a "neutral" rating in a report on Tuesday, March 11th. KeyCorp upgraded Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 target price on the stock in a research report on Tuesday, February 11th. Finally, Citigroup cut their price target on Steel Dynamics from $160.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, December 19th. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $149.67.

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.