PGGM Investments Has $7.10 Million Stock Position in Steel Dynamics, Inc. (NASDAQ:STLD)

PGGM Investments decreased its position in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 13.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 62,225 shares of the basic materials company's stock after selling 9,552 shares during the period. PGGM Investments' holdings in Steel Dynamics were worth $7,098,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in shares of Steel Dynamics in the 3rd quarter valued at $25,000. ORG Wealth Partners LLC acquired a new position in shares of Steel Dynamics in the 4th quarter valued at $28,000. Private Trust Co. NA grew its holdings in shares of Steel Dynamics by 532.6% in the 3rd 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 period. Golden State Wealth Management LLC acquired a new position in shares of Steel Dynamics in the 4th quarter valued at $48,000. Finally, Brooklyn Investment Group bought a new stake in Steel Dynamics in the 3rd quarter valued at $61,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Insider Activity

In other news, SVP Glenn Pushis sold 23,649 shares of the company's stock in a transaction dated Tuesday, February 11th. The shares were 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 directly owns 122,140 shares of the company's stock, valued at approximately $16,448,593.80. This represents a 16.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.00% of the stock is owned by insiders.

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Analyst Upgrades and Downgrades

Several research firms recently commented on STLD. The Goldman Sachs Group began coverage on shares of Steel Dynamics in a research report on Monday, December 2nd. They issued a "neutral" rating and a $155.00 price objective on the stock. Wolfe Research raised shares of Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research report on Thursday, February 27th. 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 report on Thursday, December 12th. StockNews.com raised shares of Steel Dynamics from a "sell" rating to a "hold" rating in a research report on Thursday, March 6th. Finally, Morgan Stanley raised shares of Steel Dynamics from an "equal weight" rating to an "overweight" rating and boosted their price target for the stock from $145.00 to $158.00 in a research report on Friday, March 7th. Six analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to MarketBeat.com, Steel Dynamics presently has a consensus rating of "Moderate Buy" and an average price target of $148.56.

Steel Dynamics Stock Performance

Shares of STLD stock traded up $2.15 on Tuesday, reaching $127.09. The stock had a trading volume of 1,862,079 shares, compared to its average volume of 1,364,181. 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 firm's 50-day moving average is $127.50 and its two-hundred day moving average is $127.93. The firm has a market capitalization of $19.08 billion, a price-to-earnings ratio of 12.97, a P/E/G ratio of 1.05 and a beta of 1.34. 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 issued 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 net margin of 8.76% and a return on equity of 17.32%. During the same quarter in the prior year, the firm earned $2.61 earnings per share. On average, research analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics declared that its Board of Directors has approved a share 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 reacquire up to 7.4% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board 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. Stockholders of record on Monday, March 31st will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.57%. This is a boost from Steel Dynamics's previous quarterly dividend of $0.46. The ex-dividend date is Monday, March 31st. Steel Dynamics's dividend payout ratio is presently 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.