Atlantic Union Bankshares Corp Has $3.54 Million Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Atlantic Union Bankshares Corp cut its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 8.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 31,000 shares of the basic materials company's stock after selling 3,000 shares during the quarter. Atlantic Union Bankshares Corp's holdings in Steel Dynamics were worth $3,536,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Wilmington Savings Fund Society FSB acquired a new stake in Steel Dynamics during the 3rd quarter worth about $25,000. ORG Wealth Partners LLC purchased a new stake in shares of Steel Dynamics during the 4th quarter worth about $28,000. Private Trust Co. NA raised its stake in shares of Steel Dynamics by 532.6% during the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company's stock worth $37,000 after purchasing an additional 245 shares in the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Steel Dynamics during the 4th quarter worth about $48,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Steel Dynamics during the 3rd quarter worth about $61,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Stock Performance

STLD opened at $125.03 on Friday. Steel Dynamics, Inc. has a 12-month low of $104.60 and a 12-month high of $155.56. The firm has a market capitalization of $18.78 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 1.05 and a beta of 1.34. The stock's 50 day moving average price is $126.25 and its two-hundred day moving average price is $127.60. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32.

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Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced 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 period last year, the business posted $2.61 EPS. On average, equities analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Increases Dividend

The business also recently declared 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 is a positive change from Steel Dynamics's previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 1.60%. Steel Dynamics's payout ratio is currently 20.41%.

Steel Dynamics announced that its Board of Directors has approved a stock buyback 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 reacquire up to 7.4% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group assumed coverage on Steel Dynamics in a research note on Monday, December 2nd. They set a "neutral" rating and a $155.00 price target for the company. StockNews.com raised Steel Dynamics from a "sell" rating to a "hold" rating in a research note on Thursday. JPMorgan Chase & Co. cut their price target on Steel Dynamics from $134.00 to $132.00 and set a "neutral" rating for the company in a research note on Friday, January 17th. Morgan Stanley raised Steel Dynamics from an "equal weight" rating to an "overweight" rating and raised their price objective for the company from $145.00 to $158.00 in a research note on Friday. Finally, BNP Paribas raised Steel Dynamics from a "neutral" rating to an "outperform" rating in a research note on Friday, January 3rd. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, Steel Dynamics has a consensus rating of "Moderate Buy" and an average target price of $147.67.

Insider Activity at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of the business's stock in a transaction on Tuesday, February 11th. The stock was 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 6.00% of the stock is owned by insiders.

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.

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