Steel Dynamics, Inc. (NASDAQ:STLD) Holdings Reduced by Hosking Partners LLP

Hosking Partners LLP lessened its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 18.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 166,645 shares of the basic materials company's stock after selling 38,793 shares during the quarter. Hosking Partners LLP owned approximately 0.11% of Steel Dynamics worth $19,009,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Holocene Advisors LP lifted its holdings in Steel Dynamics by 85.8% during the 3rd quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company's stock worth $289,400,000 after buying an additional 1,060,007 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Steel Dynamics by 6.6% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company's stock valued at $194,933,000 after buying an additional 96,122 shares during the last quarter. Nordea Investment Management AB increased its stake in shares of Steel Dynamics by 22.4% during the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company's stock worth $158,487,000 after acquiring an additional 253,802 shares during the period. Bank of New York Mellon Corp increased its position in Steel Dynamics by 12.5% during the 4th quarter. Bank of New York Mellon Corp now owns 1,027,341 shares of the basic materials company's stock worth $117,189,000 after purchasing an additional 114,485 shares during the period. Finally, Lord Abbett & CO. LLC lifted its holdings in shares of Steel Dynamics by 116.5% in the 3rd quarter. Lord Abbett & CO. LLC now owns 1,018,668 shares of the basic materials company's stock valued at $128,434,000 after buying an additional 548,086 shares during the period. Institutional investors and hedge funds own 82.41% of the company's stock.

Steel Dynamics Stock Down 3.2 %

STLD traded down $4.13 during trading hours on Tuesday, reaching $126.37. 1,962,186 shares of the stock traded hands, compared to its average volume of 1,748,347. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The company has a market cap of $19.24 billion, a price-to-earnings ratio of 12.89, a PEG ratio of 1.05 and a beta of 1.35. 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 firm's fifty day simple moving average is $125.69 and its two-hundred day simple moving average is $127.54.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share 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 company earned $2.61 EPS. As a group, analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics declared that its board has approved a stock buyback plan on Monday, February 24th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the basic materials company to repurchase up to 7.4% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company's board believes its stock is 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 issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.58%. 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%.

Insider Activity at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the business's stock in a transaction on 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 6.00% of the company's stock.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the stock. UBS Group reiterated a "neutral" rating and issued a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. KeyCorp raised 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. StockNews.com lowered shares of Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Wednesday, February 26th. Jefferies Financial Group raised shares of Steel Dynamics from a "hold" rating to a "buy" rating and increased their price target for the stock from $125.00 to $145.00 in a research note on Friday, January 24th. Finally, BNP Paribas raised shares of Steel Dynamics from a "neutral" rating to an "outperform" rating in a research note on Friday, January 3rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, Steel Dynamics presently has an average rating of "Hold" and a consensus target price of $146.22.

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.