Steel Dynamics, Inc. (NASDAQ:STLD) Shares Purchased by QRG Capital Management Inc.

QRG Capital Management Inc. increased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 26.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 82,482 shares of the basic materials company's stock after purchasing an additional 17,489 shares during the period. QRG Capital Management Inc. owned approximately 0.05% of Steel Dynamics worth $9,409,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of STLD. Wilmington Savings Fund Society FSB purchased a new position in shares of Steel Dynamics in the 3rd quarter worth approximately $25,000. ORG Wealth Partners LLC purchased a new position in Steel Dynamics during the fourth quarter worth $28,000. Private Trust Co. NA increased its position in 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 acquiring an additional 245 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Steel Dynamics in the fourth quarter valued at $48,000. Finally, Brooklyn Investment Group purchased a new stake in shares of Steel Dynamics in the third quarter valued at $61,000. Hedge funds and other institutional investors own 82.41% of the company's stock.

Insider Buying and Selling

In other news, SVP Glenn Pushis sold 23,649 shares of Steel Dynamics stock in a transaction 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 transaction, the senior vice president now directly owns 122,140 shares in the company, valued at approximately $16,448,593.80. This trade represents a 16.22 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 6.00% of the stock is currently owned by insiders.

Steel Dynamics Stock Down 3.4 %

Shares of STLD traded down $4.57 during midday trading on Monday, reaching $130.50. 1,892,837 shares of the stock were exchanged, compared to its average volume of 1,756,762. The company has a market capitalization of $19.87 billion, a P/E ratio of 13.32, a PEG ratio of 1.05 and a beta of 1.35. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56. The company's 50 day moving average is $125.39 and its two-hundred day moving average is $127.46.

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 the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a return on equity of 17.32% and a net margin of 8.76%. During the same quarter in the prior year, the firm earned $2.61 EPS. On average, sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

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

Steel Dynamics Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 1.53%. This is a positive change from Steel Dynamics's previous quarterly dividend of $0.46. The ex-dividend date is Monday, March 31st. Steel Dynamics's dividend payout ratio (DPR) is presently 20.41%.

Analysts Set New Price Targets

STLD has been the topic of several analyst reports. KeyCorp upgraded shares of Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 price target on the stock in a report on Tuesday, February 11th. BNP Paribas raised Steel Dynamics from a "neutral" rating to an "outperform" rating in a research note on Friday, January 3rd. The Goldman Sachs Group assumed coverage on Steel Dynamics in a report on Monday, December 2nd. They issued a "neutral" rating and a $155.00 price target on the stock. StockNews.com cut Steel Dynamics from a "hold" rating to a "sell" rating in a report on Wednesday, February 26th. Finally, Citigroup reduced their target price on Steel Dynamics from $160.00 to $145.00 and set a "buy" rating on the stock in a research note on Thursday, December 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $146.22.

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.