Fox Run Management L.L.C. Acquires New Position in Steel Dynamics, Inc. (NASDAQ:STLD)

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

A number of other large investors have also recently bought and sold shares of the business. Wilmington Savings Fund Society FSB bought a new stake in shares of Steel Dynamics in the 3rd quarter worth approximately $25,000. ORG Wealth Partners LLC acquired a new stake in Steel Dynamics in the fourth quarter worth $28,000. Private Trust Co. NA lifted its stake in Steel Dynamics by 532.6% in the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after buying an additional 245 shares during the last quarter. IAG Wealth Partners LLC acquired a new position in shares of Steel Dynamics during the fourth quarter valued at $39,000. Finally, Avalon Trust Co bought a new position in shares of Steel Dynamics during the fourth quarter worth about $42,000. Institutional investors own 82.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price target on the stock. Wolfe Research upgraded Steel Dynamics from an “underperform” rating to a “peer perform” rating in a research report on Thursday, February 27th. StockNews.com upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Thursday, March 6th. Citigroup cut their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. Finally, KeyCorp upgraded shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 target price for the company in a research report on Tuesday, February 11th. Five research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $148.56.

Steel Dynamics Trading Up 3.3 %

Steel Dynamics stock 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 firm’s 50 day moving average price is $128.29 and its two-hundred day moving average price is $128.31. The firm has a market cap of $18.99 billion, a price-to-earnings ratio of 12.92, 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 quick ratio of 1.08 and a current ratio of 2.53.

Steel Dynamics (NASDAQ:STLD) last announced its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same period last year, the business earned $2.61 EPS. On average, research analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be given a $0.50 dividend. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.46. This represents a $2.00 annualized dividend and a dividend yield of 1.58%. The ex-dividend date is Monday, March 31st. Steel Dynamics’s dividend payout ratio (DPR) is 20.41%.

Steel Dynamics declared that its board has authorized a stock repurchase plan on Monday, February 24th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the basic materials company to purchase up to 7.4% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its shares are undervalued.

Insider Activity

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.00% of the stock is owned by company 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.