Quantessence Capital LLC Buys New Holdings in Steel Dynamics, Inc. (NASDAQ:STLD)

Quantessence Capital LLC purchased a new position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 10,146 shares of the basic materials company's stock, valued at approximately $1,157,000.

Several other institutional investors and hedge funds also recently made changes to their positions in STLD. Wilmington Savings Fund Society FSB bought a new stake in shares of Steel Dynamics in the third quarter worth about $25,000. ORG Wealth Partners LLC acquired a new position in shares of Steel Dynamics in the 4th quarter valued at approximately $28,000. IAG Wealth Partners LLC bought a new stake in Steel Dynamics during the 4th quarter worth approximately $39,000. Avalon Trust Co acquired a new stake in Steel Dynamics during the 4th quarter worth approximately $42,000. Finally, Golden State Wealth Management LLC bought a new position in Steel Dynamics in the fourth quarter valued at approximately $48,000. Institutional investors own 82.41% of the company's stock.

Insider Buying and Selling

In related news, SVP Glenn Pushis sold 23,649 shares of the firm's stock in a transaction that occurred on 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 directly owns 122,140 shares of the company's stock, valued at approximately $16,448,593.80. This trade represents a 16.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.30% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. StockNews.com cut Steel Dynamics from a "hold" rating to a "sell" rating in a research report on Friday. UBS Group raised shares of Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 target price for the company in a research report on Monday, March 24th. BNP Paribas upgraded shares of Steel Dynamics from a "neutral" rating to an "outperform" rating in a research note on Friday, January 3rd. BMO Capital Markets raised Steel Dynamics from a "market perform" rating to an "outperform" rating and raised their price objective for the company from $135.00 to $145.00 in a research note on Monday, March 31st. Finally, Jefferies Financial Group raised Steel Dynamics from a "hold" rating to a "buy" rating and raised their price objective for the company from $125.00 to $145.00 in a report on Friday, January 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $147.44.

Steel Dynamics Stock Down 0.0 %

Shares of Steel Dynamics stock traded down $0.04 during trading hours on Friday, reaching $127.34. The company's stock had a trading volume of 774,474 shares, compared to its average volume of 1,501,399. The company has a market capitalization of $19.09 billion, a P/E ratio of 12.99, a P/E/G ratio of 1.05 and a beta of 1.35. The stock's fifty day simple moving average is $124.00 and its two-hundred day simple moving average is $128.17. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $155.56. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The basic materials company reported $1.44 EPS for the quarter, topping analysts' consensus estimates of $1.40 by $0.04. Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.17 billion. During the same period in the previous year, the company posted $3.67 EPS. On average, research analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

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

Steel Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 11th. Shareholders of record on Monday, March 31st were given a dividend of $0.50 per share. The ex-dividend date was Monday, March 31st. This represents a $2.00 annualized dividend and a dividend yield of 1.57%. This is a boost from Steel Dynamics's previous quarterly dividend of $0.46. Steel Dynamics's dividend payout ratio (DPR) is currently 26.42%.

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.