Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Denali Advisors LLC

Denali Advisors LLC trimmed its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 63.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 13,921 shares of the basic materials company's stock after selling 23,732 shares during the period. Denali Advisors LLC's holdings in Steel Dynamics were worth $1,588,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also bought and sold shares of STLD. Wilmington Savings Fund Society FSB purchased a new stake in shares of Steel Dynamics in the 3rd quarter valued at $25,000. ORG Wealth Partners LLC purchased a new stake in Steel Dynamics in the fourth quarter worth approximately $28,000. Private Trust Co. NA boosted its holdings in shares of Steel Dynamics by 532.6% in the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company's stock worth $37,000 after buying an additional 245 shares during the last quarter. Golden State Wealth Management LLC purchased a new position in shares of Steel Dynamics during the 4th quarter valued at about $48,000. Finally, Brooklyn Investment Group bought a new stake in Steel Dynamics during the third quarter valued at about $61,000. Institutional investors own 82.41% of the company's stock.

Wall Street Analysts Forecast Growth

STLD has been the subject of a number of analyst reports. Morgan Stanley raised their price target on Steel Dynamics from $131.00 to $145.00 and gave the stock an "equal weight" rating in a research report on Monday, February 3rd. UBS Group reiterated a "neutral" rating and issued a $149.00 target price (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. JPMorgan Chase & Co. reduced their price target on Steel Dynamics from $134.00 to $132.00 and set a "neutral" rating for the company in a report on Friday, January 17th. StockNews.com cut shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research note on Wednesday. Finally, Citigroup decreased their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a "buy" rating on the stock in a report on Thursday, December 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $146.22.

Steel Dynamics Trading Up 1.3 %

Shares of STLD traded up $1.75 during trading hours on Friday, reaching $135.07. The stock had a trading volume of 1,695,758 shares, compared to its average volume of 1,753,301. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week 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 company has a market cap of $20.56 billion, a P/E ratio of 13.78, a P/E/G ratio of 1.05 and a beta of 1.35. The firm has a 50-day moving average of $125.39 and a 200 day moving average of $127.37.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share for the quarter, missing analysts' consensus estimates 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 company posted $2.61 EPS. On average, sell-side analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently disclosed 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 yield of 1.48%. The ex-dividend date is Monday, March 31st. This is a positive change from Steel Dynamics's previous quarterly dividend of $0.46. Steel Dynamics's dividend payout ratio (DPR) is 20.41%.

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

Insider Buying and Selling

In other news, SVP Glenn Pushis sold 23,649 shares of the business's stock in a transaction dated Tuesday, February 11th. The shares were 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 directly owns 122,140 shares of the company's stock, valued at $16,448,593.80. The trade was a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 6.00% of the stock is currently owned by insiders.

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.