Mitsubishi UFJ Trust & Banking Corp Reduces Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Mitsubishi UFJ Trust & Banking Corp decreased its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 3.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 268,825 shares of the basic materials company's stock after selling 9,438 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.18% of Steel Dynamics worth $30,665,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Steel Dynamics during the 3rd quarter worth approximately $25,000. ORG Wealth Partners LLC purchased a new position in Steel Dynamics during the fourth quarter worth $28,000. Private Trust Co. NA raised its holdings in shares of Steel Dynamics by 532.6% in the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company's stock worth $37,000 after acquiring an additional 245 shares during the last quarter. IAG Wealth Partners LLC purchased a new stake in shares of Steel Dynamics in the fourth quarter valued at $39,000. Finally, Avalon Trust Co acquired a new stake in shares of Steel Dynamics during the fourth quarter valued at $42,000. Hedge funds and other institutional investors own 82.41% of the company's stock.

Insider Activity at Steel Dynamics

In other news, SVP Glenn Pushis sold 23,649 shares of the 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 completion of the sale, the senior vice president now owns 122,140 shares in the company, valued at approximately $16,448,593.80. This trade represents a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 6.30% of the stock is owned by insiders.

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Steel Dynamics Trading Up 0.9 %

STLD stock traded up $1.11 during trading on Monday, reaching $125.08. 1,771,863 shares of the stock traded hands, compared to its average volume of 1,454,635. The business's 50 day moving average price is $128.45 and its 200-day moving average price is $128.90. The firm has a market capitalization of $18.75 billion, a PE ratio of 12.76, a P/E/G ratio of 1.05 and a beta of 1.34. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week 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 earnings per share (EPS) 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 quarter last year, the company posted $2.61 EPS. As a group, sell-side analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics announced that its board has initiated a share repurchase plan on Monday, February 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the basic materials company to reacquire up to 7.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company's leadership believes its stock is undervalued.

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 1.60%. This is a boost from Steel Dynamics's previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, March 31st. Steel Dynamics's dividend payout ratio is 20.41%.

Analyst Ratings Changes

A number of research analysts have issued reports on STLD shares. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They issued a "neutral" rating and a $155.00 target price on the stock. UBS Group raised shares of Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price objective on the stock in a research note on Monday, March 24th. Citigroup lowered 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 note on Thursday, December 19th. Morgan Stanley upgraded Steel Dynamics from an "equal weight" rating to an "overweight" rating and boosted their price target for the company from $145.00 to $158.00 in a report on Friday, March 7th. Finally, JPMorgan Chase & Co. raised their price objective on Steel Dynamics from $132.00 to $140.00 and gave the stock a "neutral" rating in a report on Tuesday, March 11th. Four analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $149.67.

Steel Dynamics Company Profile

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.