Atria Investments Inc Sells 4,050 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Atria Investments Inc lessened its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 22.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 14,285 shares of the basic materials company's stock after selling 4,050 shares during the quarter. Atria Investments Inc's holdings in Steel Dynamics were worth $1,629,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of STLD. Wilmington Savings Fund Society FSB bought a new position in shares of Steel Dynamics in the third quarter worth about $25,000. ORG Wealth Partners LLC bought a new position in Steel Dynamics in the 4th quarter valued at $28,000. Private Trust Co. NA increased its stake 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 bought a new stake in shares of Steel Dynamics during the fourth quarter worth $48,000. Finally, Brooklyn Investment Group acquired a new position in shares of Steel Dynamics during the third quarter valued at $61,000. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Stock Up 3.0 %

Shares of Steel Dynamics stock traded up $3.59 on Wednesday, hitting $124.35. The company had a trading volume of 995,162 shares, compared to its average volume of 1,810,142. Steel Dynamics, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56. 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 has a 50-day moving average of $126.68 and a 200-day moving average of $127.80. The firm has a market capitalization of $18.67 billion, a P/E ratio of 12.69, a P/E/G ratio of 1.05 and a beta of 1.34.

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Steel Dynamics (NASDAQ:STLD - Get Free Report) last released 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 return on equity of 17.32% and a net margin of 8.76%. During the same period in the prior year, the firm posted $2.61 EPS. Research analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics declared that its Board of Directors has authorized a share buyback program 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 repurchase up to 7.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company's management believes its shares are undervalued.

Steel Dynamics Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 1.61%. This is an increase from Steel Dynamics's previous quarterly dividend of $0.46. Steel Dynamics's dividend payout ratio is 20.41%.

Insider Activity

In related news, SVP Glenn Pushis sold 23,649 shares of the firm's stock in a transaction 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 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages have recently commented on STLD. UBS Group reiterated a "neutral" rating and set a $149.00 price target (up previously from $145.00) on shares of Steel Dynamics in a research report on Thursday, December 12th. JPMorgan Chase & Co. lifted their price objective on Steel Dynamics from $132.00 to $140.00 and gave the stock a "neutral" rating in a research note on Tuesday. The Goldman Sachs Group started coverage on Steel Dynamics in a research note on Monday, December 2nd. They issued a "neutral" rating and a $155.00 target price on the stock. Citigroup lowered their price target on Steel Dynamics from $160.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. Finally, BNP Paribas raised shares of Steel Dynamics from a "neutral" rating to an "outperform" rating in a research note on Friday, January 3rd. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Steel Dynamics has a consensus rating of "Moderate Buy" and a consensus price target of $148.56.

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.