Mizuho Securities USA LLC Has $1.53 Million Stake in Steel Dynamics, Inc. (NASDAQ:STLD)

Mizuho Securities USA LLC raised its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 44.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,419 shares of the basic materials company's stock after buying an additional 4,114 shares during the quarter. Mizuho Securities USA LLC's holdings in Steel Dynamics were worth $1,531,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Quest Partners LLC bought a new stake in shares of Steel Dynamics during the third quarter valued at approximately $62,000. PNC Financial Services Group Inc. lifted its holdings in Steel Dynamics by 3.1% in the third quarter. PNC Financial Services Group Inc. now owns 20,177 shares of the basic materials company's stock worth $2,544,000 after purchasing an additional 604 shares during the period. Commerce Bank lifted its stake in shares of Steel Dynamics by 1.2% in the 3rd quarter. Commerce Bank now owns 5,981 shares of the basic materials company's stock worth $754,000 after acquiring an additional 73 shares during the period. Raymond James Trust N.A. acquired a new stake in Steel Dynamics in the third quarter worth approximately $201,000. Finally, Cerity Partners LLC boosted its stake in Steel Dynamics by 41.8% during the third quarter. Cerity Partners LLC now owns 95,486 shares of the basic materials company's stock valued at $12,039,000 after buying an additional 28,131 shares in the last quarter. 82.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Steel Dynamics 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 transaction, the senior vice president now owns 122,140 shares of the company's stock, valued at approximately $16,448,593.80. This represents a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 6.30% of the company's stock.

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Steel Dynamics Stock Performance

Shares of NASDAQ:STLD traded down $4.02 during trading on Friday, hitting $123.97. 2,337,322 shares of the stock were exchanged, compared to its average volume of 1,453,366. The company has a market capitalization of $18.58 billion, a price-to-earnings ratio of 12.65, a price-to-earnings-growth ratio of 1.05 and a beta of 1.34. 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's fifty day simple moving average is $128.46 and its 200-day simple moving average is $128.66. 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 earnings per share 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 in the prior year, the business posted $2.61 earnings per share. Sell-side analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

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

Steel Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be issued a $0.50 dividend. 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. This represents a $2.00 annualized dividend and a yield of 1.61%. Steel Dynamics's dividend payout ratio (DPR) is currently 20.41%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. KeyCorp raised shares of Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 price objective for the company in a research note on Tuesday, February 11th. StockNews.com raised shares of Steel Dynamics from a "sell" rating to a "hold" rating in a research note on Thursday, March 6th. BNP Paribas raised Steel Dynamics from a "neutral" rating to an "outperform" rating in a research report on Friday, January 3rd. Morgan Stanley raised Steel Dynamics from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $145.00 to $158.00 in a research note on Friday, March 7th. Finally, Wolfe Research upgraded Steel Dynamics from an "underperform" rating to a "peer perform" rating in a report on Thursday, February 27th. Five 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 has a consensus rating of "Moderate Buy" and an average target price of $148.56.

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.