Creative Financial Designs Inc. ADV Sells 237 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Creative Financial Designs Inc. ADV reduced its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 12.9% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 1,603 shares of the basic materials company’s stock after selling 237 shares during the period. Creative Financial Designs Inc. ADV’s holdings in Steel Dynamics were worth $183,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Holocene Advisors LP increased its holdings in Steel Dynamics by 85.8% during the 3rd quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock worth $289,400,000 after purchasing an additional 1,060,007 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Steel Dynamics by 6.6% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company’s stock worth $194,933,000 after purchasing an additional 96,122 shares during the period. Nordea Investment Management AB increased its holdings in Steel Dynamics by 22.4% during the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after purchasing an additional 253,802 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Steel Dynamics by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,374,907 shares of the basic materials company’s stock worth $156,836,000 after purchasing an additional 11,672 shares during the period. Finally, Bank of New York Mellon Corp increased its holdings in Steel Dynamics by 12.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,027,341 shares of the basic materials company’s stock worth $117,189,000 after purchasing an additional 114,485 shares during the period. 82.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics stock in a transaction dated 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 completion of the sale, the senior vice president now 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 6.00% of the stock is currently owned by insiders.

Steel Dynamics Stock Up 1.1 %

Shares of STLD stock opened at $128.52 on Thursday. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56. The stock’s fifty day moving average price is $127.89 and its 200 day moving average price is $127.99. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. The company has a market cap of $19.30 billion, a price-to-earnings ratio of 13.11, a price-to-earnings-growth ratio of 1.05 and a beta of 1.34.

Steel Dynamics (NASDAQ:STLD) last announced its 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 return on equity of 17.32% and a net margin of 8.76%. During the same period in the previous year, the company earned $2.61 EPS. On average, research analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics announced that its Board of Directors has approved a share buyback program on Monday, February 24th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the basic materials company to reacquire up to 7.4% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board 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. Shareholders of record on Monday, March 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 1.56%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.46. Steel Dynamics’s payout ratio is currently 20.41%.

Analyst Ratings Changes

STLD has been the topic of several research reports. Citigroup reduced their price objective on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. UBS Group restated a “neutral” rating and set a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Wolfe Research upgraded Steel Dynamics from an “underperform” rating to a “peer perform” rating in a report on Thursday, February 27th. The Goldman Sachs Group began coverage on Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price target on the stock. Finally, Morgan Stanley upgraded Steel Dynamics from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $145.00 to $158.00 in a report on Friday, March 7th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Steel Dynamics has an average rating of “Moderate Buy” and an average price target of $148.56.

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.