Callan Family Office LLC Invests $269,000 in Steel Dynamics, Inc. (NASDAQ:STLD)

Callan Family Office LLC acquired a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) in the fourth quarter, Holdings Channel reports. The fund acquired 2,356 shares of the basic materials company’s stock, valued at approximately $269,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in STLD. Wilmington Savings Fund Society FSB bought a new position in shares of Steel Dynamics during the 3rd quarter worth about $25,000. ORG Wealth Partners LLC bought a new position in shares of Steel Dynamics during the 4th quarter worth about $28,000. Private Trust Co. NA lifted its holdings in shares of Steel Dynamics by 532.6% during the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 245 shares during the period. Golden State Wealth Management LLC bought a new position in shares of Steel Dynamics during the 4th quarter worth about $48,000. Finally, Brooklyn Investment Group bought a new position in shares of Steel Dynamics during the 3rd quarter worth about $61,000. 82.41% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on STLD shares. The Goldman Sachs Group started coverage on shares of Steel Dynamics in a research report on Monday, December 2nd. They set a “neutral” rating and a $155.00 target price for the company. Citigroup dropped their target price on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research report on Thursday, December 19th. Jefferies Financial Group upgraded shares of 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. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. Finally, StockNews.com upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Thursday, March 6th. Six analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $147.67.

Steel Dynamics Trading Down 4.5 %

STLD opened at $119.40 on Tuesday. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. The stock has a market capitalization of $17.93 billion, a PE ratio of 12.18, a PEG ratio of 1.05 and a beta of 1.34. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56. The firm has a 50-day moving average price of $126.55 and a two-hundred day moving average price of $127.80.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) 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 quarter in the prior year, the business posted $2.61 earnings per share. As a group, equities analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 1.68%. The ex-dividend date is Monday, March 31st. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.46. Steel Dynamics’s dividend payout ratio (DPR) is 20.41%.

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

Insider Activity

In other news, SVP Glenn Pushis sold 23,649 shares of the firm’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 transaction, the senior vice president now owns 122,140 shares of the company’s stock, valued at approximately $16,448,593.80. This trade represents a 16.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 6.00% of the company’s stock.

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.