9,099 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Purchased by XTX Topco Ltd

XTX Topco Ltd bought a new stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm bought 9,099 shares of the basic materials company's stock, valued at approximately $1,038,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in STLD. Wilmington Savings Fund Society FSB purchased a new stake in shares of Steel Dynamics during the third quarter valued at $25,000. ORG Wealth Partners LLC purchased a new position in Steel Dynamics in the 4th quarter valued at about $28,000. IAG Wealth Partners LLC acquired a new stake in Steel Dynamics during the 4th quarter worth $39,000. Avalon Trust Co purchased a new position in shares of Steel Dynamics during the 4th quarter worth $42,000. Finally, Golden State Wealth Management LLC purchased a new stake in Steel Dynamics in the 4th quarter valued at about $48,000. Hedge funds and other institutional investors own 82.41% of the company's stock.

Steel Dynamics Price Performance

STLD traded up $1.08 during midday trading on Friday, hitting $118.29. The stock had a trading volume of 1,049,759 shares, compared to its average volume of 1,505,000. The company has a market cap of $17.73 billion, a P/E ratio of 12.07, a price-to-earnings-growth ratio of 1.05 and a beta of 1.35. The business has a fifty day moving average of $125.36 and a 200 day moving average of $128.40. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 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 prior year, the business earned $2.61 EPS. As a group, equities analysts forecast 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. Investors of record on Monday, March 31st were issued a $0.50 dividend. This is an increase from Steel Dynamics's previous quarterly dividend of $0.46. The ex-dividend date was Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.69%. Steel Dynamics's dividend payout ratio (DPR) is presently 20.41%.

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 shares. This buyback authorization permits the basic materials company to reacquire up to 7.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's leadership believes its stock is undervalued.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. BNP Paribas upgraded shares of Steel Dynamics from a "neutral" rating to an "outperform" rating in a research report on Friday, January 3rd. Jefferies Financial Group upgraded shares of Steel Dynamics from a "hold" rating to a "buy" rating and lifted their price objective for the company from $125.00 to $145.00 in a research note on Friday, January 24th. Wolfe Research raised shares of Steel Dynamics from an "underperform" rating to a "peer perform" rating in a report on Thursday, February 27th. StockNews.com raised Steel Dynamics from a "sell" rating to a "hold" rating in a research note on Thursday, March 6th. Finally, UBS Group upgraded Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 target price for the company in a research report on Monday, March 24th. Four analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $149.11.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was 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 of the company's stock, valued at $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 available at this hyperlink. 6.30% of the stock is owned by corporate insiders.

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.