5,265 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Acquired by Fox Run Management L.L.C.

Fox Run Management L.L.C. bought a new position in Steel Dynamics, Inc. (NASDAQ:STLD) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,265 shares of the basic materials company’s stock, valued at approximately $601,000.

Several other institutional investors also recently bought and sold shares of the business. KLP Kapitalforvaltning AS acquired a new position in Steel Dynamics in the fourth quarter valued at $8,882,000. Knights of Columbus Asset Advisors LLC increased its stake in shares of Steel Dynamics by 2.2% during the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 12,547 shares of the basic materials company’s stock valued at $1,431,000 after acquiring an additional 276 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Steel Dynamics by 7.2% during the 4th quarter. American Century Companies Inc. now owns 262,847 shares of the basic materials company’s stock worth $29,983,000 after acquiring an additional 17,715 shares during the period. Mizuho Securities USA LLC boosted its position in shares of Steel Dynamics by 44.2% in the fourth quarter. Mizuho Securities USA LLC now owns 13,419 shares of the basic materials company’s stock worth $1,531,000 after acquiring an additional 4,114 shares during the last quarter. Finally, Quantbot Technologies LP purchased a new stake in Steel Dynamics in the fourth quarter valued at approximately $363,000. 82.41% of the stock is currently 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 value of $3,184,810.83. Following the completion of the sale, the senior vice president now directly owns 122,140 shares of the company’s stock, 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 through this link. Insiders own 6.00% of the company’s stock.

Analysts Set New Price Targets

STLD has been the topic of a number of research analyst reports. The Goldman Sachs Group started coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price target on the stock. JPMorgan Chase & Co. boosted their price target on Steel Dynamics from $132.00 to $140.00 and gave the company a “neutral” rating in a research report on Tuesday, March 11th. UBS Group raised Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 price objective on the stock in a research note on Monday. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. Finally, Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and lifted their price target for the company from $125.00 to $145.00 in a research report on Friday, January 24th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Steel Dynamics has an average rating of “Moderate Buy” and a consensus target price of $148.56.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $126.66 on Tuesday. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56. The stock has a market cap of $18.99 billion, a P/E ratio of 12.92, a PEG 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 firm has a 50-day moving average of $128.29 and a two-hundred day moving average of $128.31.

Steel Dynamics (NASDAQ:STLD) last issued 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 period last year, the business posted $2.61 EPS. On average, research analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics announced that its board has initiated a stock buyback plan 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 shares through open market purchases. Shares buyback plans are often 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 will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.46. This represents a $2.00 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Monday, March 31st. Steel Dynamics’s dividend payout ratio (DPR) is currently 20.41%.

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.