O Shaughnessy Asset Management LLC Reduces Stock Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

O Shaughnessy Asset Management LLC lowered its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 6.9% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 428,716 shares of the basic materials company's stock after selling 31,825 shares during the period. O Shaughnessy Asset Management LLC owned approximately 0.28% of Steel Dynamics worth $48,904,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Quest Partners LLC purchased a new stake in Steel Dynamics during the 3rd quarter valued at about $62,000. Private Trust Co. NA grew its holdings in shares of Steel Dynamics by 532.6% during the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company's stock valued at $37,000 after buying an additional 245 shares during the last quarter. BNP Paribas Financial Markets increased its position in shares of Steel Dynamics by 4.1% during the third quarter. BNP Paribas Financial Markets now owns 221,376 shares of the basic materials company's stock valued at $27,911,000 after acquiring an additional 8,756 shares in the last quarter. CreativeOne Wealth LLC lifted its position in Steel Dynamics by 17.3% in the 3rd quarter. CreativeOne Wealth LLC now owns 2,091 shares of the basic materials company's stock valued at $264,000 after acquiring an additional 309 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Steel Dynamics by 4.0% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,115 shares of the basic materials company's stock valued at $3,923,000 after purchasing an additional 1,194 shares during the last quarter. Institutional investors own 82.41% of the company's stock.

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Insider Activity at Steel Dynamics

In other news, SVP Glenn Pushis sold 23,649 shares of the company's stock in a transaction that occurred 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 sale, the senior vice president now directly owns 122,140 shares of the company's stock, valued at $16,448,593.80. This represents a 16.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 6.30% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the company. Morgan Stanley upgraded Steel Dynamics from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $145.00 to $158.00 in a report on Friday, March 7th. JPMorgan Chase & Co. raised their target price on shares of Steel Dynamics from $132.00 to $140.00 and gave the stock a "neutral" rating in a report on Tuesday, March 11th. BMO Capital Markets upgraded shares of Steel Dynamics from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $135.00 to $145.00 in a research note on Monday. Wolfe Research upgraded Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research note on Thursday, February 27th. Finally, BNP Paribas upgraded Steel Dynamics from a "neutral" rating to an "outperform" rating in a research report on Friday, January 3rd. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $149.67.

Steel Dynamics Price Performance

Shares of NASDAQ STLD traded down $1.08 during mid-day trading on Tuesday, reaching $124.00. The company's stock had a trading volume of 1,217,765 shares, compared to its average volume of 1,456,005. The stock has a fifty day moving average of $128.43 and a two-hundred day moving average of $128.98. The firm has a market capitalization of $18.59 billion, a PE ratio of 12.65, a P/E/G ratio of 1.05 and a beta of 1.34. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56. 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 (NASDAQ:STLD - Get Free Report) last released its quarterly earnings data on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (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 quarter in the prior year, the firm posted $2.61 EPS. As a group, sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics declared that its board has approved a stock buyback plan on Monday, February 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the basic materials company to reacquire up to 7.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company's leadership believes its shares are undervalued.

Steel Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be given a $0.50 dividend. This is an increase 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 1.61%. The ex-dividend date is Monday, March 31st. Steel Dynamics's payout ratio is currently 20.41%.

Steel Dynamics 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.