Steel Dynamics, Inc. (NASDAQ:STLD) Shares Bought by Hsbc Holdings PLC

Hsbc Holdings PLC grew its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 5.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 748,168 shares of the basic materials company's stock after buying an additional 38,427 shares during the quarter. Hsbc Holdings PLC owned 0.49% of Steel Dynamics worth $85,386,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Steel Dynamics during the third quarter worth about $25,000. ORG Wealth Partners LLC acquired a new stake in Steel Dynamics during the 4th quarter worth approximately $28,000. IAG Wealth Partners LLC purchased a new position in Steel Dynamics in the 4th quarter valued at approximately $39,000. Avalon Trust Co acquired a new position in shares of Steel Dynamics in the fourth quarter worth $42,000. Finally, Golden State Wealth Management LLC purchased a new stake in shares of Steel Dynamics during the fourth quarter worth $48,000. Hedge funds and other institutional investors own 82.41% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on STLD shares. StockNews.com cut Steel Dynamics from a "hold" rating to a "sell" rating in a research note on Friday. UBS Group raised Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price objective for the company in a research report on Monday, March 24th. Wolfe Research raised shares of Steel Dynamics from an "underperform" rating to a "peer perform" rating in a report on Thursday, February 27th. Morgan Stanley set a $140.00 price target on shares of Steel Dynamics and gave the stock an "overweight" rating in a report on Thursday. Finally, BMO Capital Markets upgraded shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $135.00 to $145.00 in a report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $147.44.

Insider Activity

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the firm'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 transaction, the senior vice president now directly owns 122,140 shares of the company's stock, valued at approximately $16,448,593.80. This trade represents a 16.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 6.30% of the company's stock.

Steel Dynamics Stock Down 0.0 %

NASDAQ:STLD traded down $0.04 during midday trading on Friday, hitting $127.34. 774,474 shares of the company were exchanged, compared to its average volume of 1,503,196. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. Steel Dynamics, Inc. has a fifty-two week low of $103.17 and a fifty-two week high of $155.56. The company has a market capitalization of $19.09 billion, a PE ratio of 12.99, a price-to-earnings-growth ratio of 1.05 and a beta of 1.35. The company has a fifty day simple moving average of $124.00 and a 200 day simple moving average of $128.16.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.04. The business had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.17 billion. Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same quarter in the previous year, the firm earned $3.67 earnings per share. As a group, equities analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 11th. Stockholders of record on Monday, March 31st were given a dividend of $0.50 per share. The ex-dividend date was Monday, March 31st. This is a positive change from Steel Dynamics's previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.57%. Steel Dynamics's dividend payout ratio (DPR) is 26.42%.

Steel Dynamics declared that its board has initiated a share buyback 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 buy up to 7.4% of its shares through open market purchases. Shares buyback programs are typically an indication that the company's leadership believes its stock is undervalued.

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.