XTX Topco Ltd Makes New $1.04 Million Investment in Steel Dynamics, Inc. (NASDAQ:STLD)

XTX Topco Ltd purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 9,099 shares of the basic materials company’s stock, valued at approximately $1,038,000.

A number of other hedge funds and other institutional investors have also modified their holdings of STLD. Harbour Capital Advisors LLC increased its position in Steel Dynamics by 133.7% during the fourth quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company’s stock worth $1,301,000 after buying an additional 6,579 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of Steel Dynamics during the 4th quarter worth about $1,725,000. Foster & Motley Inc. increased its holdings in shares of Steel Dynamics by 8.0% during the 4th quarter. Foster & Motley Inc. now owns 35,299 shares of the basic materials company’s stock valued at $4,027,000 after acquiring an additional 2,602 shares during the last quarter. Nordea Investment Management AB raised its stake 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 acquiring an additional 253,802 shares in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its stake in shares of Steel Dynamics by 9.1% in the 4th quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 27,373 shares of the basic materials company’s stock valued at $3,123,000 after acquiring an additional 2,287 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Insider Buying and Selling

In related news, SVP Glenn Pushis sold 23,649 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 122,140 shares of the company’s stock, valued at $16,448,593.80. The trade was a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 6.30% of the stock is owned by company insiders.

Steel Dynamics Stock Performance

NASDAQ:STLD opened at $118.24 on Wednesday. The firm’s 50-day moving average is $126.17 and its 200-day moving average is $128.60. The company has a market cap of $17.72 billion, a price-to-earnings ratio of 12.07, a PEG ratio of 1.05 and a beta of 1.35. 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 52-week low of $103.17 and a 52-week 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 (EPS) 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 prior year, the business earned $2.61 EPS. Equities research analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

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

Steel Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Monday, March 31st were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.69%. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.46. The ex-dividend date was Monday, March 31st. Steel Dynamics’s dividend payout ratio is presently 20.41%.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on STLD shares. BNP Paribas raised Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. Jefferies Financial Group raised shares of Steel Dynamics from a “hold” rating to a “buy” rating and upped their price objective for the stock from $125.00 to $145.00 in a report on Friday, January 24th. Wolfe Research upgraded shares of Steel Dynamics from an “underperform” rating to a “peer perform” rating in a report on Thursday, February 27th. Morgan Stanley raised shares of Steel Dynamics from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $145.00 to $158.00 in a research report on Friday, March 7th. Finally, StockNews.com raised Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Thursday, March 6th. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $149.67.

Steel Dynamics 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.