ExodusPoint Capital Management LP Has $46.35 Million Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

ExodusPoint Capital Management LP increased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 90.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 406,343 shares of the basic materials company’s stock after purchasing an additional 192,767 shares during the period. ExodusPoint Capital Management LP owned about 0.27% of Steel Dynamics worth $46,352,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Harbour Capital Advisors LLC increased its holdings in Steel Dynamics by 133.7% in the 4th quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company’s stock valued at $1,301,000 after buying an additional 6,579 shares during the period. Oak Thistle LLC acquired a new stake in shares of Steel Dynamics during the 4th quarter valued at about $1,725,000. Foster & Motley Inc. increased its stake in Steel Dynamics by 8.0% in the fourth 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 period. Nordea Investment Management AB increased its stake in Steel Dynamics by 22.4% in the fourth 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 during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management raised its position in Steel Dynamics by 9.1% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 27,373 shares of the basic materials company’s stock worth $3,123,000 after purchasing an additional 2,287 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Steel Dynamics 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 transaction of $3,184,810.83. Following the transaction, the senior vice president now directly owns 122,140 shares in the company, valued at approximately $16,448,593.80. This represents a 16.22 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 6.30% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on STLD shares. Morgan Stanley upgraded 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 research note on Friday, March 7th. KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price target on the stock in a research report on Tuesday, February 11th. BMO Capital Markets upgraded Steel Dynamics from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $135.00 to $145.00 in a research note on Monday. StockNews.com upgraded shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday, March 6th. Finally, Wolfe Research upgraded shares of Steel Dynamics from an “underperform” rating to a “peer perform” rating in a research report on Thursday, February 27th. 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.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $149.67.

Steel Dynamics Trading Up 2.7 %

Shares of NASDAQ STLD opened at $127.36 on Thursday. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56. The company has a 50-day moving average of $128.52 and a two-hundred day moving average of $128.97. The company has a market cap of $19.09 billion, a PE ratio of 13.00, a P/E/G ratio of 1.05 and a beta of 1.34. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32.

Steel Dynamics (NASDAQ:STLD) last posted its quarterly earnings data 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 return on equity of 17.32% and a net margin of 8.76%. During the same quarter in the prior year, the firm posted $2.61 earnings per share. As a group, equities analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics declared that its Board of Directors has authorized a stock buyback 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 purchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

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 $0.50 dividend. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.46. The ex-dividend date is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 1.57%. Steel Dynamics’s dividend payout ratio (DPR) is currently 20.41%.

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.