NEOS Investment Management LLC Purchases 1,238 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

NEOS Investment Management LLC increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 25.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,081 shares of the basic materials company’s stock after acquiring an additional 1,238 shares during the quarter. NEOS Investment Management LLC’s holdings in Steel Dynamics were worth $694,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of STLD. Wilmington Savings Fund Society FSB purchased a new position in Steel Dynamics in the third quarter worth $25,000. ORG Wealth Partners LLC purchased a new position in Steel Dynamics during the 4th quarter worth $28,000. Private Trust Co. NA increased its position in Steel Dynamics by 532.6% during the 3rd 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 in the last quarter. IAG Wealth Partners LLC purchased a new stake in Steel Dynamics in the fourth quarter valued at about $39,000. Finally, Avalon Trust Co acquired a new stake in Steel Dynamics in the fourth quarter worth about $42,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

NASDAQ STLD opened at $123.97 on Monday. The firm has a market capitalization of $18.58 billion, a P/E ratio of 12.65, a PEG ratio of 1.05 and a beta of 1.34. The stock has a 50-day simple moving average of $128.46 and a two-hundred day simple moving average of $128.80. 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 fifty-two week low of $104.60 and a fifty-two week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share 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 period in the previous year, the firm earned $2.61 EPS. On average, 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 declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be issued a dividend of $0.50 per share. 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 1.61%. Steel Dynamics’s dividend payout ratio is 20.41%.

Steel Dynamics announced that its Board of Directors has approved 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 repurchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on STLD shares. Morgan Stanley upgraded shares of Steel Dynamics from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $145.00 to $158.00 in a report on Friday, March 7th. Citigroup cut 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. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. JPMorgan Chase & Co. upped their target price 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, StockNews.com upgraded Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday, March 6th. Five equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, Steel Dynamics presently has an average rating of “Moderate Buy” and an average price target of $148.56.

Insider Activity at Steel Dynamics

In other news, SVP Glenn Pushis sold 23,649 shares of the stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. 6.30% of the stock is owned by company insiders.

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.