United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund Acquires New Position in Steel Dynamics, Inc. (NASDAQ:STLD)

United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the 4th quarter, according to its most recent filing with the SEC. The fund acquired 5,200 shares of the basic materials company's stock, valued at approximately $593,000.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB acquired a new position in Steel Dynamics in the 3rd quarter valued at about $25,000. ORG Wealth Partners LLC purchased a new stake in Steel Dynamics in the 4th quarter worth approximately $28,000. Private Trust Co. NA raised its holdings in Steel Dynamics by 532.6% in the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company's stock valued at $37,000 after acquiring an additional 245 shares during the last quarter. IAG Wealth Partners LLC purchased a new position in shares of Steel Dynamics during the 4th quarter worth $39,000. Finally, Avalon Trust Co acquired a new stake in shares of Steel Dynamics during the fourth quarter worth $42,000. 82.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the business's 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 sale, the senior vice president now owns 122,140 shares in the company, valued at approximately $16,448,593.80. The trade was a 16.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.30% of the stock is currently owned by company insiders.

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Steel Dynamics Price Performance

Steel Dynamics stock traded down $4.02 during midday trading on Friday, hitting $123.97. The company's stock had a trading volume of 2,337,322 shares, compared to its average volume of 1,453,366. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. The stock's 50-day moving average price is $128.46 and its 200-day moving average price is $128.66. The company has a market capitalization of $18.58 billion, a PE ratio of 12.65, a price-to-earnings-growth ratio of 1.05 and a beta of 1.34.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 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 quarter last year, the business earned $2.61 EPS. Analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics declared that its board has approved a share repurchase 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 reacquire up to 7.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board believes its stock is undervalued.

Steel Dynamics Increases Dividend

The business also recently announced 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 represents a $2.00 dividend on an annualized basis and a dividend yield of 1.61%. This is a boost from Steel Dynamics's previous quarterly dividend of $0.46. The ex-dividend date is Monday, March 31st. Steel Dynamics's payout ratio is presently 20.41%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. lifted their price target on shares of Steel Dynamics from $132.00 to $140.00 and gave the company a "neutral" rating in a report on Tuesday, March 11th. Jefferies Financial Group upgraded Steel Dynamics from a "hold" rating to a "buy" rating and raised their price objective for the stock from $125.00 to $145.00 in a report on Friday, January 24th. The Goldman Sachs Group began coverage on Steel Dynamics in a report on Monday, December 2nd. They set a "neutral" rating and a $155.00 target price for the company. Wolfe Research upgraded shares of Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research note on Thursday, February 27th. Finally, StockNews.com upgraded shares of Steel Dynamics from a "sell" rating to a "hold" rating in a report on Thursday, March 6th. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $148.56.

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.