Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by US Bancorp DE

US Bancorp DE lessened its position in shares of Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 11.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,552 shares of the basic materials company's stock after selling 2,198 shares during the quarter. US Bancorp DE's holdings in Steel Dynamics were worth $2,002,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new stake in Steel Dynamics during the third quarter valued at approximately $25,000. ORG Wealth Partners LLC purchased a new stake in Steel Dynamics during the 4th quarter valued at $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 purchased a new position in Steel Dynamics during the fourth quarter worth $48,000. Finally, Brooklyn Investment Group bought a new position in Steel Dynamics during the third quarter valued at $61,000. Institutional investors own 82.41% of the company's stock.

Insider Activity 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 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.00% of the stock is currently owned by corporate insiders.

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Steel Dynamics Stock Up 1.1 %

Shares of STLD traded up $1.36 during mid-day trading on Tuesday, hitting $120.76. The company's stock had a trading volume of 2,391,931 shares, compared to its average volume of 1,358,766. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. The company's 50-day moving average is $126.55 and its 200-day moving average is $127.80. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56. The firm has a market capitalization of $18.13 billion, a price-to-earnings ratio of 12.32, a PEG ratio of 1.05 and a beta of 1.34.

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. On average, equities research analysts forecast that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics declared that its board has initiated a share buyback program on Monday, February 24th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the basic materials company to buy up to 7.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company's management believes its stock is undervalued.

Steel Dynamics Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 1.66%. The ex-dividend date 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%.

Analyst Ratings Changes

STLD has been the subject of a number of recent analyst reports. Wolfe Research raised shares of Steel Dynamics from an "underperform" rating to a "peer perform" rating in a research note on Thursday, February 27th. BNP Paribas raised Steel Dynamics from a "neutral" rating to an "outperform" rating in a research note on Friday, January 3rd. KeyCorp raised Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 price target for the company in a research note on Tuesday, February 11th. Morgan Stanley raised Steel Dynamics from an "equal weight" rating to an "overweight" rating and upped their price objective for the company from $145.00 to $158.00 in a research report on Friday. Finally, The Goldman Sachs Group initiated coverage on Steel Dynamics in a research report on Monday, December 2nd. They set a "neutral" rating and a $155.00 target price for the company. Six analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Steel Dynamics presently has a consensus rating of "Moderate Buy" and an average 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.