Steel Dynamics, Inc. (NASDAQ:STLD) Stock Holdings Lessened by Swiss National Bank

Swiss National Bank decreased its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 414,000 shares of the basic materials company's stock after selling 29,100 shares during the quarter. Swiss National Bank owned approximately 0.27% of Steel Dynamics worth $47,225,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB purchased a new position in Steel Dynamics during the 3rd quarter worth approximately $25,000. ORG Wealth Partners LLC purchased a new stake in shares of Steel Dynamics during the fourth quarter worth approximately $28,000. Private Trust Co. NA raised its stake in shares of Steel Dynamics by 532.6% during the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company's stock worth $37,000 after purchasing an additional 245 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Steel Dynamics during the fourth quarter worth approximately $48,000. Finally, Brooklyn Investment Group purchased a new position in Steel Dynamics in the third quarter worth $61,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Steel Dynamics Stock Performance

Shares of STLD stock traded down $1.88 during trading hours on Thursday, reaching $126.64. The stock had a trading volume of 1,744,971 shares, compared to its average volume of 1,368,563. 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, Inc. has a twelve month low of $104.60 and a twelve month high of $155.56. The firm has a 50-day simple moving average of $127.89 and a 200-day simple moving average of $127.99. The firm has a market capitalization of $19.02 billion, a PE ratio of 12.92, a price-to-earnings-growth ratio of 1.05 and a beta of 1.34.

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Steel Dynamics (NASDAQ:STLD - Get Free Report) last released its quarterly earnings data 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 quarter last year, the firm posted $2.61 earnings per share. As a group, equities analysts forecast that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics declared that its Board of Directors has initiated a stock buyback program on Monday, February 24th that allows the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization allows the basic materials company to buy up to 7.4% of its shares through open market purchases. Shares repurchase programs are generally a sign that the company's board of directors believes its stock is 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 dividend of $0.50 per share. This is a boost from Steel Dynamics's previous quarterly dividend of $0.46. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 annualized dividend and a yield of 1.58%. Steel Dynamics's dividend payout ratio (DPR) is presently 20.41%.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the firm's stock in a transaction dated 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.00% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Morgan Stanley upgraded Steel Dynamics from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $145.00 to $158.00 in a research report on Friday, March 7th. UBS Group reissued a "neutral" rating and issued a $149.00 target price (up previously from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. JPMorgan Chase & Co. upped their target price on Steel Dynamics from $132.00 to $140.00 and gave the company a "neutral" rating in a report on Tuesday, March 11th. The Goldman Sachs Group started coverage on Steel Dynamics in a report on Monday, December 2nd. They issued a "neutral" rating and a $155.00 target price on the stock. Finally, BNP Paribas raised Steel Dynamics from a "neutral" rating to an "outperform" rating in a research note on Friday, January 3rd. Six equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $148.56.

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.