Assetmark Inc. Has $86.66 Million Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Assetmark Inc. grew its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 5.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 759,722 shares of the basic materials company’s stock after buying an additional 38,185 shares during the quarter. Assetmark Inc. owned approximately 0.50% of Steel Dynamics worth $86,662,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Commerce Bank boosted its stake in Steel Dynamics by 1.2% in the 3rd quarter. Commerce Bank now owns 5,981 shares of the basic materials company’s stock worth $754,000 after purchasing an additional 73 shares during the period. M&T Bank Corp raised its stake in Steel Dynamics by 0.9% during the 3rd quarter. M&T Bank Corp now owns 10,055 shares of the basic materials company’s stock valued at $1,267,000 after purchasing an additional 88 shares during the period. Atomi Financial Group Inc. lifted its holdings in shares of Steel Dynamics by 5.0% in the fourth quarter. Atomi Financial Group Inc. now owns 1,929 shares of the basic materials company’s stock valued at $220,000 after purchasing an additional 91 shares in the last quarter. Covestor Ltd boosted its position in shares of Steel Dynamics by 10.8% in the third quarter. Covestor Ltd now owns 951 shares of the basic materials company’s stock worth $120,000 after buying an additional 93 shares during the period. Finally, Prime Capital Investment Advisors LLC grew its holdings in shares of Steel Dynamics by 2.0% during the third quarter. Prime Capital Investment Advisors LLC now owns 5,041 shares of the basic materials company’s stock valued at $636,000 after buying an additional 99 shares in the last quarter. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Stock Performance

STLD stock opened at $126.37 on Wednesday. The company has a market capitalization of $19.24 billion, a price-to-earnings ratio of 12.89, a P/E/G ratio of 1.05 and a beta of 1.35. The firm has a 50 day moving average of $125.87 and a two-hundred day moving average of $127.61. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (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 prior year, the firm earned $2.61 earnings per share. As a group, equities analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.58%. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.46. The ex-dividend date is Monday, March 31st. Steel Dynamics’s dividend payout ratio (DPR) is presently 20.41%.

Steel Dynamics announced that its Board of Directors has initiated 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 shares through open market purchases. Shares repurchase plans are typically an indication that the company’s board believes its stock is undervalued.

Analysts Set New Price Targets

Several brokerages recently issued reports on STLD. Wolfe Research raised Steel Dynamics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, February 27th. KeyCorp upgraded Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 target price on the stock in a report on Tuesday, February 11th. The Goldman Sachs Group assumed coverage on shares of Steel Dynamics in a research report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price target for the company. StockNews.com downgraded shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research report on Wednesday, February 26th. Finally, UBS Group reiterated a “neutral” rating and issued a $149.00 price objective (up previously from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, Steel Dynamics has a consensus rating of “Hold” and an average target price of $146.22.

Insider Buying and Selling

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

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.