Lbp Am Sa Boosts Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

LBP AM SA raised its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 173.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 16,438 shares of the basic materials company's stock after acquiring an additional 10,416 shares during the period. LBP AM SA's holdings in Steel Dynamics were worth $1,875,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Holocene Advisors LP boosted its stake in shares of Steel Dynamics by 85.8% during the third quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company's stock valued at $289,400,000 after purchasing an additional 1,060,007 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Steel Dynamics by 6.6% during the third 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 purchasing an additional 96,122 shares in the last quarter. Nordea Investment Management AB boosted 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 valued at $158,487,000 after purchasing an additional 253,802 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Steel Dynamics by 0.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,374,907 shares of the basic materials company's stock valued at $156,836,000 after purchasing an additional 11,672 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in shares of Steel Dynamics by 12.5% during the fourth quarter. Bank of New York Mellon Corp now owns 1,027,341 shares of the basic materials company's stock valued at $117,189,000 after purchasing an additional 114,485 shares in the last quarter. Institutional investors own 82.41% of the company's stock.

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Insider Activity

In related news, SVP Glenn Pushis sold 23,649 shares of the company's stock in a transaction on Tuesday, February 11th. The stock was 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 approximately $16,448,593.80. This represents a 16.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 6.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on STLD shares. Jefferies Financial Group raised Steel Dynamics from a "hold" rating to a "buy" rating and lifted their price target for the company from $125.00 to $145.00 in a research note on Friday, January 24th. KeyCorp raised Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 price target on the stock in a research note on Tuesday, February 11th. UBS Group reaffirmed a "neutral" rating and issued a $149.00 price objective (up from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. Citigroup cut their price objective on Steel Dynamics from $160.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. Finally, BNP Paribas raised Steel Dynamics from a "neutral" rating to an "outperform" rating in a research note on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, Steel Dynamics currently has a consensus rating of "Moderate Buy" and an average price target of $148.56.

Steel Dynamics Trading Down 1.5 %

STLD stock traded down $1.88 during mid-day trading on Thursday, reaching $126.64. The company's stock had a trading volume of 1,745,073 shares, compared to its average volume of 1,368,633. The company has a market cap of $19.02 billion, a price-to-earnings ratio of 12.92, a price-to-earnings-growth ratio of 1.05 and a beta of 1.34. The business's 50 day moving average price is $127.89 and its 200 day moving average price is $127.99. 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 12 month low of $104.60 and a 12 month high of $155.56.

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

Steel Dynamics announced that its Board of Directors has initiated a stock buyback program on Monday, February 24th that authorizes the company to buyback $1.50 billion in 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 usually a sign that the company's management believes its stock is undervalued.

Steel Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. 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. This represents a $2.00 annualized dividend and a dividend yield of 1.58%. Steel Dynamics's payout ratio is currently 20.41%.

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.