Callan Family Office LLC Acquires Shares of 2,356 Steel Dynamics, Inc. (NASDAQ:STLD)

Callan Family Office LLC acquired a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 2,356 shares of the basic materials company’s stock, valued at approximately $269,000.

Several other large investors have also recently added to or reduced their stakes in STLD. Concurrent Investment Advisors LLC acquired a new position in Steel Dynamics in the 3rd quarter valued at approximately $227,000. Atria Investments Inc increased its stake in Steel Dynamics by 30.8% in the 3rd quarter. Atria Investments Inc now owns 18,335 shares of the basic materials company’s stock valued at $2,312,000 after buying an additional 4,319 shares during the period. Covestor Ltd increased its stake in Steel Dynamics by 10.8% in the 3rd quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock valued at $120,000 after buying an additional 93 shares during the period. Addison Advisors LLC acquired a new position in shares of Steel Dynamics during the 3rd quarter worth $82,000. Finally, Laffer Tengler Investments Inc. increased its stake in shares of Steel Dynamics by 2.0% during the 3rd quarter. Laffer Tengler Investments Inc. now owns 52,657 shares of the basic materials company’s stock worth $6,639,000 after purchasing an additional 1,050 shares during the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analyst Ratings Changes

STLD has been the topic of several analyst reports. Citigroup dropped their price target 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. KeyCorp upgraded shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price target on the stock in a research note on Tuesday, February 11th. Morgan Stanley upgraded shares of Steel Dynamics from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $145.00 to $158.00 in a research note on Friday. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They set a “neutral” rating and a $155.00 price target on the stock. Finally, Jefferies Financial Group upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating and increased their price target for the stock from $125.00 to $145.00 in a research note on Friday, January 24th. Six research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.67.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the stock in a transaction on 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 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. This represents a 16.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 6.00% of the company’s stock.

Steel Dynamics Price Performance

NASDAQ 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 company has a fifty day simple moving average of $126.55 and a 200 day simple moving average of $127.80. The company has a market cap of $17.93 billion, a P/E ratio of 12.18, a P/E/G 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.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings results 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 quarter in the prior year, the company earned $2.61 earnings per share. On average, sell-side analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be issued a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a yield of 1.68%. Steel Dynamics’s dividend payout ratio is 20.41%.

Steel Dynamics announced that its Board of Directors has authorized a share repurchase plan on Monday, February 24th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the basic materials company to purchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company’s board of directors believes its shares are undervalued.

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.