Steel Dynamics, Inc. (NASDAQ:STLD) Position Reduced by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. reduced its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 11.5% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,643 shares of the basic materials company's stock after selling 3,595 shares during the period. Dana Investment Advisors Inc.'s holdings in Steel Dynamics were worth $3,153,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Wilmington Savings Fund Society FSB purchased a new position in shares of Steel Dynamics in the 3rd quarter worth about $25,000. ORG Wealth Partners LLC purchased a new position in Steel Dynamics in the fourth quarter valued at about $28,000. Private Trust Co. NA raised its holdings 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. Golden State Wealth Management LLC acquired a new position in shares of Steel Dynamics during the fourth quarter worth $48,000. Finally, Brooklyn Investment Group acquired a new position in Steel Dynamics in the 3rd quarter worth $61,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Steel Dynamics

In other 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 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 link. Company insiders own 6.00% of the company's stock.

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Analysts Set New Price Targets

A number of research analysts have commented on STLD shares. Morgan Stanley upgraded shares of Steel Dynamics from an "equal weight" rating to an "overweight" rating and increased their price objective for the company from $145.00 to $158.00 in a research note on Friday. BNP Paribas raised Steel Dynamics from a "neutral" rating to an "outperform" rating in a research report on Friday, January 3rd. The Goldman Sachs Group assumed coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They issued a "neutral" rating and a $155.00 price objective for the company. JPMorgan Chase & Co. boosted their target price on shares of Steel Dynamics from $132.00 to $140.00 and gave the company a "neutral" rating in a research note on Tuesday. Finally, StockNews.com upgraded shares of Steel Dynamics from a "sell" rating to a "hold" rating in a research report on Thursday, March 6th. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $148.56.

Steel Dynamics Stock Performance

Shares of NASDAQ:STLD traded up $1.36 during trading hours on Tuesday, hitting $120.76. The stock had a trading volume of 2,392,462 shares, compared to its average volume of 1,358,767. The stock's fifty day simple moving average is $126.55 and its 200 day simple moving average is $127.80. The firm has a market capitalization of $18.13 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.05 and a beta of 1.34. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted 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 period last year, the firm earned $2.61 earnings per share. Sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics announced that its board has approved a share repurchase program 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 stock through open market purchases. Stock repurchase programs are often a sign that the company's board of directors believes its shares are undervalued.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.66%. 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. Steel Dynamics's payout ratio is 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.