Charles Schwab Investment Management Inc. Acquires 11,672 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Charles Schwab Investment Management Inc. increased its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 0.9% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 1,374,907 shares of the basic materials company's stock after acquiring an additional 11,672 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.90% of Steel Dynamics worth $156,836,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of STLD. Wilmington Savings Fund Society FSB acquired a new position in Steel Dynamics in the 3rd quarter worth about $25,000. ORG Wealth Partners LLC bought a new position in Steel Dynamics during the fourth quarter worth $28,000. Private Trust Co. NA raised its position in shares of Steel Dynamics by 532.6% during the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company's stock valued at $37,000 after buying an additional 245 shares during the last quarter. Golden State Wealth Management LLC bought a new position in Steel Dynamics during the fourth quarter valued at about $48,000. Finally, Brooklyn Investment Group acquired a new position in Steel Dynamics in the 3rd quarter valued at approximately $61,000. 82.41% of the stock is owned by hedge funds and other institutional investors.

Steel Dynamics Stock Performance

Shares of STLD stock traded up $1.36 on Tuesday, reaching $120.76. The stock had a trading volume of 2,391,931 shares, compared to its average volume of 1,358,766. 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 $18.13 billion, a price-to-earnings ratio of 12.32, a P/E/G ratio of 1.05 and a beta of 1.34. The firm's 50-day moving average is $126.55 and its two-hundred day moving average is $127.80. 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 released its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (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 period in the prior year, the business posted $2.61 earnings per share. On average, research analysts expect 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. Stockholders of record on Monday, March 31st will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Steel Dynamics's previous quarterly dividend of $0.46. This represents a $2.00 annualized dividend and a dividend yield of 1.66%. Steel Dynamics's dividend payout ratio is presently 20.41%.

Steel Dynamics declared that its board has authorized a stock repurchase program on Monday, February 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the basic materials company to reacquire up to 7.4% of its stock through open market purchases. Stock buyback programs are often a sign that the company's board of directors believes its shares are undervalued.

Wall Street Analysts Forecast Growth

STLD has been the topic of several recent analyst reports. UBS Group reaffirmed a "neutral" rating and issued a $149.00 price target (up previously from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. BNP Paribas upgraded Steel Dynamics from a "neutral" rating to an "outperform" rating in a research report on Friday, January 3rd. Wolfe Research upgraded Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research report on Thursday, February 27th. Jefferies Financial Group raised shares of Steel Dynamics from a "hold" rating to a "buy" rating and upped their target price for the company from $125.00 to $145.00 in a research note on Friday, January 24th. Finally, JPMorgan Chase & Co. boosted their price objective on Steel Dynamics from $132.00 to $140.00 and gave the company a "neutral" rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat, Steel Dynamics presently has an average rating of "Moderate Buy" and a consensus target price of $148.56.

Insider Transactions at Steel Dynamics

In other news, SVP Glenn Pushis sold 23,649 shares of the business's stock in a transaction that occurred on 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 in the company, valued at $16,448,593.80. The trade was a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 6.00% of the stock is currently owned by corporate 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.