Crestwood Advisors Group LLC Acquires 156 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Crestwood Advisors Group LLC grew its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 3.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,264 shares of the basic materials company’s stock after acquiring an additional 156 shares during the period. Crestwood Advisors Group LLC’s holdings in Steel Dynamics were worth $486,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in STLD. Wilmington Savings Fund Society FSB bought a new position in Steel Dynamics in the third quarter worth approximately $25,000. ORG Wealth Partners LLC purchased a new stake in shares of Steel Dynamics in the fourth quarter worth $28,000. Private Trust Co. NA increased its stake in shares of Steel Dynamics by 532.6% in the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 245 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Steel Dynamics in the fourth quarter worth $48,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Steel Dynamics in the third quarter worth $61,000. 82.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. reduced their price objective on shares of Steel Dynamics from $134.00 to $132.00 and set a “neutral” rating for the company in a research note on Friday, January 17th. Morgan Stanley increased their price objective on shares of Steel Dynamics from $131.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Citigroup reduced their price objective 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, 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. Six equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $146.22.

Steel Dynamics Stock Performance

STLD opened at $133.48 on Wednesday. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The stock has a market capitalization of $20.32 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 1.05 and a beta of 1.35. The company has a fifty day moving average of $124.31 and a 200 day moving average of $127.08. 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 issued its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 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 quarter in the previous year, the firm earned $2.61 earnings per share. As a group, sell-side analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date is Monday, March 31st. Steel Dynamics’s dividend payout ratio (DPR) is presently 18.78%.

Steel Dynamics announced that its board has initiated a stock buyback program on Monday, February 24th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the basic materials company to buy up to 7.4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s management believes its shares are undervalued.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics 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 transaction, the senior vice president now directly owns 122,140 shares of the company’s stock, valued at $16,448,593.80. This trade represents a 16.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 6.00% of the company’s stock.

Steel Dynamics Company 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.