Quantbot Technologies LP Takes Position in Steel Dynamics, Inc. (NASDAQ:STLD)

Quantbot Technologies LP purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,181 shares of the basic materials company's stock, valued at approximately $363,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Wilmington Savings Fund Society FSB acquired a new position in shares of Steel Dynamics in the third quarter valued at approximately $25,000. ORG Wealth Partners LLC acquired a new position in Steel Dynamics in the 4th quarter valued at $28,000. Private Trust Co. NA raised its position in Steel Dynamics by 532.6% during the 3rd quarter. Private Trust Co. NA now owns 291 shares of the basic materials company's stock worth $37,000 after buying an additional 245 shares during the last quarter. IAG Wealth Partners LLC purchased a new position in Steel Dynamics during the 4th quarter worth $39,000. Finally, Avalon Trust Co acquired a new stake in shares of Steel Dynamics in the 4th quarter worth $42,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Insider Activity

In related news, SVP Glenn Pushis sold 23,649 shares of the business'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 completion of the transaction, the senior vice president now owns 122,140 shares of the company's stock, valued at approximately $16,448,593.80. The trade was a 16.22 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 6.30% of the company's stock.

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Analysts Set New Price Targets

Several research firms recently issued reports on STLD. KeyCorp raised shares of Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 price target for the company in a report on Tuesday, February 11th. UBS Group raised Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 target price for the company in a research note on Monday, March 24th. StockNews.com upgraded Steel Dynamics from a "sell" rating to a "hold" rating in a research note on Thursday, March 6th. Citigroup cut their price objective on Steel Dynamics from $160.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. Finally, Jefferies Financial Group upgraded shares of Steel Dynamics from a "hold" rating to a "buy" rating and boosted their target price for the stock from $125.00 to $145.00 in a research report on Friday, January 24th. Four equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $149.67.

Steel Dynamics Price Performance

NASDAQ STLD traded up $3.36 during trading hours on Wednesday, reaching $127.36. The company's stock had a trading volume of 1,261,948 shares, compared to its average volume of 1,457,384. 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 50-day moving average is $128.52 and its two-hundred day moving average is $128.97. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The stock has a market cap of $19.09 billion, a PE ratio of 13.00, a PEG ratio of 1.05 and a beta of 1.34.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly 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 net margin of 8.76% and a return on equity of 17.32%. During the same quarter last year, the business earned $2.61 earnings per share. Analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics declared that its Board of Directors has initiated a stock 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 shares through open market purchases. Shares buyback plans are typically a sign that the company's board believes its stock is undervalued.

Steel Dynamics Increases Dividend

The business also recently declared 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 payout ratio is 20.41%.

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.