Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Sei Investments Co.

Sei Investments Co. lessened its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 12.7% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 87,618 shares of the basic materials company's stock after selling 12,800 shares during the quarter. Sei Investments Co. owned about 0.06% of Steel Dynamics worth $9,994,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in STLD. Holocene Advisors LP boosted its position in Steel Dynamics by 85.8% in the 3rd quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company's stock valued at $289,400,000 after buying an additional 1,060,007 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Steel Dynamics by 6.6% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company's stock valued at $194,933,000 after purchasing an additional 96,122 shares during the period. Nordea Investment Management AB grew its stake in Steel Dynamics by 22.4% during the 4th quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company's stock worth $158,487,000 after purchasing an additional 253,802 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Steel Dynamics by 0.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,374,907 shares of the basic materials company's stock worth $156,836,000 after purchasing an additional 11,672 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Steel Dynamics by 12.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,027,341 shares of the basic materials company's stock valued at $117,189,000 after purchasing an additional 114,485 shares in the last quarter. Hedge funds and other institutional investors own 82.41% of the company's stock.

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Analyst Upgrades and Downgrades

STLD has been the subject of a number of analyst reports. StockNews.com raised Steel Dynamics from a "sell" rating to a "hold" rating in a research report on Thursday, March 6th. KeyCorp upgraded 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. JPMorgan Chase & Co. raised their price objective on shares of Steel Dynamics from $132.00 to $140.00 and gave the company a "neutral" rating in a report on Tuesday, March 11th. Morgan Stanley upgraded shares of Steel Dynamics from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $145.00 to $158.00 in a research note on Friday, March 7th. Finally, BNP Paribas raised shares of Steel Dynamics from a "neutral" rating to an "outperform" rating in a report on Friday, January 3rd. Four analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $149.67.

Insiders Place Their Bets

In other news, SVP Glenn Pushis sold 23,649 shares of the firm'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 value of $3,184,810.83. Following the completion of the sale, the senior vice president now directly owns 122,140 shares of the company's stock, valued at $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 available through this hyperlink. 6.30% of the stock is currently owned by insiders.

Steel Dynamics Stock Performance

Shares of NASDAQ:STLD traded up $2.16 during trading on Wednesday, reaching $126.16. The company had a trading volume of 694,628 shares, compared to its average volume of 1,872,322. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. The stock's fifty day moving average price is $128.43 and its 200 day moving average price is $128.98. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56. The firm has a market capitalization of $18.91 billion, a price-to-earnings ratio of 12.87, a price-to-earnings-growth ratio of 1.05 and a beta of 1.34.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last announced 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 last year, the firm earned $2.61 earnings per share. As a group, equities research analysts predict that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Shareholders 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 yield of 1.59%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Steel Dynamics's previous quarterly dividend of $0.46. Steel Dynamics's payout ratio is currently 20.41%.

Steel Dynamics announced that its board has approved a share repurchase plan on Monday, February 24th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the basic materials company to buy up to 7.4% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company's board believes its shares are undervalued.

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.