Steel Dynamics, Inc. (NASDAQ:STLD) Shares Bought by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC raised its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 7.0% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,967 shares of the basic materials company’s stock after purchasing an additional 128 shares during the period. Axxcess Wealth Management LLC’s holdings in Steel Dynamics were worth $224,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Harbour Capital Advisors LLC raised its position in shares of Steel Dynamics by 133.7% in the 4th quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company’s stock valued at $1,301,000 after purchasing an additional 6,579 shares in the last quarter. Oak Thistle LLC acquired a new position in shares of Steel Dynamics in the 4th quarter valued at approximately $1,725,000. Foster & Motley Inc. raised its position in shares of Steel Dynamics by 8.0% in the 4th quarter. Foster & Motley Inc. now owns 35,299 shares of the basic materials company’s stock valued at $4,027,000 after purchasing an additional 2,602 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Steel Dynamics by 9,465.5% in the 3rd quarter. Larson Financial Group LLC now owns 18,844 shares of the basic materials company’s stock valued at $2,376,000 after purchasing an additional 18,647 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in shares of Steel Dynamics by 22.4% in 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 purchasing an additional 253,802 shares in the last quarter. 82.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $16,448,593.80. This trade represents a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on STLD. StockNews.com raised Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Thursday, March 6th. Morgan Stanley raised Steel Dynamics from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $145.00 to $158.00 in a research report on Friday, March 7th. The Goldman Sachs Group began coverage on Steel Dynamics in a research report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price target on the stock. JPMorgan Chase & Co. upped 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. Finally, KeyCorp raised Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price target on the stock in a research report on Tuesday, February 11th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, Steel Dynamics has an average rating of “Moderate Buy” and an average price target of $148.56.

Steel Dynamics Trading Down 3.1 %

NASDAQ:STLD opened at $122.67 on Friday. 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 $18.39 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.05 and a beta of 1.34. The business has a fifty day moving average of $128.22 and a 200-day moving average of $128.10. 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 released its quarterly 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 return on equity of 17.32% and a net margin of 8.76%. During the same period in the prior year, the firm posted $2.61 earnings per share. Equities analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics declared that its Board of Directors has authorized a stock buyback plan 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 shares through open market purchases. Shares buyback plans are typically a sign that the company’s leadership believes its stock is undervalued.

Steel Dynamics Increases Dividend

The firm also recently declared 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 is a boost from Steel Dynamics’s previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 1.63%. Steel Dynamics’s dividend payout ratio is presently 20.41%.

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.