Invesco Ltd. Has $336.71 Million Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Invesco Ltd. lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 4.0% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 2,951,773 shares of the basic materials company's stock after selling 122,526 shares during the period. Invesco Ltd. owned about 1.94% of Steel Dynamics worth $336,709,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Steel Dynamics during the 3rd quarter valued at approximately $25,000. ORG Wealth Partners LLC acquired a new stake in shares of Steel Dynamics in the fourth quarter valued at about $28,000. IAG Wealth Partners LLC acquired a new position in shares of Steel Dynamics during the 4th quarter worth about $39,000. Avalon Trust Co purchased a new position in Steel Dynamics in the 4th quarter valued at about $42,000. Finally, Golden State Wealth Management LLC acquired a new stake in Steel Dynamics in the 4th quarter worth about $48,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Glenn Pushis sold 23,649 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total value of $3,184,810.83. Following the completion of the transaction, the senior vice president now directly owns 122,140 shares in the company, valued at $16,448,593.80. This trade represents a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 6.30% of the stock is currently owned by corporate insiders.

Steel Dynamics Stock Up 0.1 %

NASDAQ STLD traded up $0.15 during trading on Tuesday, reaching $118.90. 311,905 shares of the company's stock were exchanged, compared to its average volume of 1,498,618. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. The company has a 50 day moving average price of $126.39 and a two-hundred day moving average price of $128.68. The stock has a market cap of $17.82 billion, a P/E ratio of 12.13, a price-to-earnings-growth ratio of 1.05 and a beta of 1.35. Steel Dynamics, Inc. has a 1 year low of $103.17 and a 1 year high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its quarterly earnings data 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 firm earned $2.61 EPS. On average, equities research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics declared that its Board of Directors has approved a share buyback plan 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 plans are often an indication that the company's board believes its stock is undervalued.

Steel Dynamics Increases Dividend

The company 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. This is a boost 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 1.68%. The ex-dividend date of this dividend was Monday, March 31st. Steel Dynamics's payout ratio is presently 20.41%.

Wall Street Analysts Forecast Growth

STLD has been the subject of several research reports. BNP Paribas upgraded Steel Dynamics from a "neutral" rating to an "outperform" rating in a research report on Friday, January 3rd. Citigroup reduced their target price on shares of Steel Dynamics from $160.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. UBS Group upgraded shares of Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price objective for the company in a report on Monday, March 24th. Morgan Stanley upgraded Steel Dynamics from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $145.00 to $158.00 in a report on Friday, March 7th. Finally, StockNews.com raised Steel Dynamics from a "sell" rating to a "hold" rating in a research note on Thursday, March 6th. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, Steel Dynamics currently has an average rating of "Moderate Buy" and an average price target of $149.67.

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.