Elo Mutual Pension Insurance Co Has $1.82 Million Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Elo Mutual Pension Insurance Co grew its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 20.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,911 shares of the basic materials company's stock after acquiring an additional 2,667 shares during the period. Elo Mutual Pension Insurance Co's holdings in Steel Dynamics were worth $1,815,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of STLD. Wilmington Savings Fund Society FSB bought a new position in shares of Steel Dynamics in the 3rd quarter valued at approximately $25,000. ORG Wealth Partners LLC bought a new position in shares of Steel Dynamics in the fourth quarter valued at approximately $28,000. Private Trust Co. NA lifted its stake 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. IAG Wealth Partners LLC acquired a new stake in shares of Steel Dynamics in the fourth quarter worth $39,000. Finally, Avalon Trust Co bought a new stake in shares of Steel Dynamics during the 4th quarter worth $42,000. 82.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Citigroup decreased their price target on shares of Steel Dynamics from $160.00 to $145.00 and set a "buy" rating for the company in a report on Thursday, December 19th. BMO Capital Markets upgraded shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and boosted their price objective for the stock from $135.00 to $145.00 in a report on Monday. Jefferies Financial Group raised Steel Dynamics from a "hold" rating to a "buy" rating and raised their target price for the stock from $125.00 to $145.00 in a research report on Friday, January 24th. Wolfe Research upgraded Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research note on Thursday, February 27th. Finally, BNP Paribas raised shares of Steel Dynamics from a "neutral" rating to an "outperform" rating in a report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $149.67.

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Steel Dynamics Trading Down 8.3 %

Shares of Steel Dynamics stock traded down $10.51 during trading hours on Thursday, hitting $116.85. The company's stock had a trading volume of 522,401 shares, compared to its average volume of 1,453,908. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. The stock has a 50 day moving average of $128.52 and a 200 day moving average of $128.97. The company has a market capitalization of $17.52 billion, a PE ratio of 11.92, a price-to-earnings-growth ratio of 1.05 and a beta of 1.34.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released 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 in the prior year, the firm posted $2.61 earnings per share. Analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors 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 represents a $2.00 dividend on an annualized basis and a yield of 1.71%. This is an increase from Steel Dynamics's previous quarterly dividend of $0.46. Steel Dynamics's dividend payout ratio (DPR) is 20.41%.

Steel Dynamics announced that its Board of Directors has initiated a share repurchase program on Monday, February 24th that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the basic materials company to reacquire up to 7.4% of its stock through open market purchases. Stock buyback programs are often an indication that the company's leadership believes its stock is undervalued.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics stock in a transaction dated 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.30% of the company's stock.

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.