Lingohr Asset Management GmbH Has $368,000 Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Lingohr Asset Management GmbH lowered its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 42.4% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,245 shares of the basic materials company's stock after selling 2,392 shares during the period. Lingohr Asset Management GmbH's holdings in Steel Dynamics were worth $368,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. Holocene Advisors LP grew its position in 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 worth $289,400,000 after buying an additional 1,060,007 shares in the last quarter. Lord Abbett & CO. LLC lifted its position in shares of Steel Dynamics by 116.5% during 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 acquiring an additional 548,086 shares during the period. Nordea Investment Management AB grew its holdings in shares of Steel Dynamics by 22.4% during the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company's stock worth $158,487,000 after purchasing an additional 253,802 shares in the last quarter. AEGON ASSET MANAGEMENT UK Plc increased its position in shares of Steel Dynamics by 192.4% in the fourth quarter. AEGON ASSET MANAGEMENT UK Plc now owns 250,621 shares of the basic materials company's stock worth $28,577,000 after purchasing an additional 164,895 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Steel Dynamics in the fourth quarter valued at about $16,495,000. Institutional investors and hedge funds own 82.41% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on STLD. Jefferies Financial Group upgraded shares of Steel Dynamics from a "hold" rating to a "buy" rating and increased their price objective for the stock from $125.00 to $145.00 in a research note on Friday, January 24th. Morgan Stanley raised shares of Steel Dynamics from an "equal weight" rating to an "overweight" rating and lifted their price objective for the company from $145.00 to $158.00 in a research note on Friday, March 7th. StockNews.com upgraded shares of Steel Dynamics from a "sell" rating to a "hold" rating in a research report on Thursday, March 6th. The Goldman Sachs Group initiated coverage on Steel Dynamics in a report on Monday, December 2nd. They issued a "neutral" rating and a $155.00 target price on the stock. Finally, BNP Paribas raised Steel Dynamics from a "neutral" rating to an "outperform" rating in a report on Friday, January 3rd. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $148.56.

Steel Dynamics Trading Up 3.3 %

Shares of STLD stock traded up $3.99 during mid-day trading on Monday, reaching $126.66. 2,213,584 shares of the stock traded hands, compared to its average volume of 1,395,208. The company has a market cap of $18.99 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 company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. The stock's fifty day simple moving average is $128.29 and its two-hundred day simple moving average is $128.31. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted 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 return on equity of 17.32% and a net margin of 8.76%. During the same quarter last year, the company earned $2.61 EPS. On average, research analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be paid a $0.50 dividend. This is a boost from Steel Dynamics's previous quarterly dividend of $0.46. The ex-dividend date 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%.

Steel Dynamics announced that its Board of Directors has approved a stock buyback plan on Monday, February 24th that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the basic materials company to purchase up to 7.4% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the company's 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 in the company, valued at approximately $16,448,593.80. The trade was a 16.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 6.00% of the stock is owned by corporate insiders.

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.