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

Axxcess Wealth Management LLC lifted its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 7.0% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,967 shares of the basic materials company’s stock after buying an additional 128 shares during the quarter. Axxcess Wealth Management LLC’s holdings in Steel Dynamics were worth $224,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in STLD. Quest Partners LLC acquired a new position in shares of Steel Dynamics during the 3rd quarter worth $62,000. PNC Financial Services Group Inc. raised its stake in shares of Steel Dynamics by 3.1% during the 3rd quarter. PNC Financial Services Group Inc. now owns 20,177 shares of the basic materials company’s stock worth $2,544,000 after buying an additional 604 shares during the last quarter. Commerce Bank raised its stake in Steel Dynamics by 1.2% in the 3rd quarter. Commerce Bank now owns 5,981 shares of the basic materials company’s stock valued at $754,000 after purchasing an additional 73 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Steel Dynamics by 4.8% in the 3rd quarter. Advisors Asset Management Inc. now owns 14,549 shares of the basic materials company’s stock valued at $1,834,000 after purchasing an additional 661 shares during the last quarter. Finally, Citizens Financial Group Inc. RI acquired a new position in Steel Dynamics in the 3rd quarter valued at about $200,000. Institutional investors and hedge funds own 82.41% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently weighed in on STLD. KeyCorp raised 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 note on Tuesday, February 11th. Wolfe Research raised shares of Steel Dynamics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, February 27th. Citigroup cut 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 note on Thursday, December 19th. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. Finally, StockNews.com raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday, March 6th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $148.56.

Steel Dynamics Stock Down 3.1 %

Shares of NASDAQ:STLD opened at $122.67 on Friday. 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, Inc. has a 1 year low of $104.60 and a 1 year high of $155.56. The stock has a market capitalization of $18.39 billion, a P/E ratio of 12.52, a PEG ratio of 1.05 and a beta of 1.34. The stock has a 50-day simple moving average of $128.22 and a 200-day simple moving average of $128.10.

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 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 in the previous year, the firm posted $2.61 EPS. Equities analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current 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 issued a dividend of $0.50 per share. The ex-dividend date is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.63%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.46. Steel Dynamics’s payout ratio is presently 20.41%.

Steel Dynamics declared that its board has approved a stock repurchase program on Monday, February 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the basic materials company to purchase up to 7.4% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of the business’s stock in a transaction that occurred on 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 transaction, the senior vice president now directly owns 122,140 shares of the company’s stock, valued at approximately $16,448,593.80. The trade was a 16.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 6.00% of the company’s stock.

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.