Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 10.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,988 shares of the basic materials company's stock after selling 4,145 shares during the quarter. Corient Private Wealth LLC's holdings in Steel Dynamics were worth $3,991,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of STLD. Wilmington Savings Fund Society FSB purchased a new stake in shares of Steel Dynamics during the 3rd quarter worth about $25,000. ORG Wealth Partners LLC acquired 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 3rd 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 period. IAG Wealth Partners LLC acquired a new stake in shares of Steel Dynamics during the 4th quarter worth about $39,000. Finally, Avalon Trust Co purchased a new stake in Steel Dynamics in the fourth quarter valued at approximately $42,000. Institutional investors own 82.41% of the company's stock.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the company'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 sale, the senior vice president now directly owns 122,140 shares of the company's stock, valued at approximately $16,448,593.80. This represents a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 6.00% of the company's stock.

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Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. UBS Group upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 target price on the stock in a research note on Monday. BNP Paribas raised Steel Dynamics from a "neutral" rating to an "outperform" rating in a report on Friday, January 3rd. KeyCorp raised shares of Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 price objective for the company in a research report on Tuesday, February 11th. The Goldman Sachs Group began coverage on Steel Dynamics in a research note on Monday, December 2nd. They issued a "neutral" rating and a $155.00 price objective on the stock. Finally, Wolfe Research raised shares of Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research note on Thursday, February 27th. Five analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $148.56.

Steel Dynamics Price Performance

NASDAQ STLD traded up $0.34 during trading on Wednesday, reaching $128.34. The company's stock had a trading volume of 1,243,134 shares, compared to its average volume of 1,394,304. The firm has a fifty day moving average of $128.38 and a 200 day moving average of $128.43. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. Steel Dynamics, Inc. has a one year low of $104.60 and a one year high of $155.56. The stock has a market capitalization of $19.24 billion, a PE ratio of 13.10, a P/E/G ratio of 1.05 and a beta of 1.34.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings results 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 net margin of 8.76% and a return on equity of 17.32%. During the same period in the prior year, the company earned $2.61 EPS. Analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics declared that its board has approved a stock buyback plan on Monday, February 24th that permits the company to repurchase $1.50 billion in shares. This repurchase authorization permits the basic materials company to purchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are generally an indication that the company's board believes its shares are undervalued.

Steel Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be given a dividend of $0.50 per share. This is an increase 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 dividend on an annualized basis and a dividend yield of 1.56%. Steel Dynamics's dividend payout ratio is presently 20.41%.

About Steel Dynamics

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.