Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC lowered its stake in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 25.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,547 shares of the basic materials company's stock after selling 3,971 shares during the period. Steward Partners Investment Advisory LLC's holdings in Steel Dynamics were worth $1,317,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of STLD. Wilmington Savings Fund Society FSB purchased a new position in shares of Steel Dynamics in the third quarter valued at $25,000. ORG Wealth Partners LLC bought a new position in shares of Steel Dynamics during the 4th quarter valued at approximately $28,000. Private Trust Co. NA lifted its position in Steel Dynamics by 532.6% in the third 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. Golden State Wealth Management LLC bought a new stake in Steel Dynamics in the fourth quarter worth $48,000. Finally, Brooklyn Investment Group purchased a new position in Steel Dynamics during the third quarter worth $61,000. Institutional investors own 82.41% of the company's stock.

Insiders Place Their Bets

In related news, SVP Glenn Pushis sold 23,649 shares of the business'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 transaction of $3,184,810.83. Following the completion of the transaction, the senior vice president now owns 122,140 shares in the company, valued at $16,448,593.80. The trade was a 16.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 6.10% of the stock is currently owned by corporate insiders.

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Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a report on Monday, December 2nd. They issued a "neutral" rating and a $155.00 target price for the company. Citigroup decreased their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a "buy" rating for the company in a research note on Thursday, December 19th. KeyCorp upgraded Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 target price for the company in a research report on Tuesday, February 11th. UBS Group reiterated a "neutral" rating and issued a $149.00 price target (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Finally, JPMorgan Chase & Co. upped their price objective on Steel Dynamics from $132.00 to $140.00 and gave the company a "neutral" rating in a research report on Tuesday. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Steel Dynamics presently has an average rating of "Moderate Buy" and an average price target of $148.56.

Steel Dynamics Stock Up 2.2 %

Shares of NASDAQ:STLD traded up $2.65 during trading hours on Wednesday, hitting $123.41. The company's stock had a trading volume of 197,583 shares, compared to its average volume of 1,356,305. The firm's fifty day moving average price is $126.68 and its 200 day moving average price is $127.80. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56. The company has a market capitalization of $18.53 billion, a price-to-earnings ratio of 12.54, a P/E/G ratio of 1.05 and a beta of 1.34. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last posted its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share 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 previous year, the business posted $2.61 EPS. As a group, research analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current year.

Steel Dynamics announced that its Board of Directors has authorized a stock repurchase program on Monday, February 24th that allows the company to repurchase $1.50 billion in shares. This repurchase authorization allows the basic materials company to reacquire up to 7.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Steel Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.62%. 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 20.41%.

Steel Dynamics 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.