Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its stake in Steel Dynamics, Inc. (NASDAQ:STLD - Free Report) by 60.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,934 shares of the basic materials company's stock after selling 91,804 shares during the quarter. Wellington Management Group LLP's holdings in Steel Dynamics were worth $6,723,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in STLD. Wilmington Savings Fund Society FSB acquired a new position in Steel Dynamics during the 3rd quarter worth about $25,000. ORG Wealth Partners LLC bought a new position in shares of Steel Dynamics in the fourth quarter valued at approximately $28,000. IAG Wealth Partners LLC purchased a new stake in shares of Steel Dynamics during the 4th quarter worth approximately $39,000. Avalon Trust Co bought a new position in Steel Dynamics during the fourth quarter worth about $42,000. Finally, Golden State Wealth Management LLC purchased a new stake in Steel Dynamics in the 4th quarter worth approximately $48,000. Institutional investors and hedge funds own 82.41% of the company's stock.

Steel Dynamics Trading Up 0.7 %

NASDAQ:STLD traded up $0.86 on Wednesday, reaching $119.10. The company's stock had a trading volume of 176,252 shares, compared to its average volume of 1,498,533. The firm has a market cap of $17.85 billion, a price-to-earnings ratio of 12.15, a price-to-earnings-growth ratio of 1.05 and a beta of 1.35. The company has a quick ratio of 1.08, a current ratio of 2.53 and a debt-to-equity ratio of 0.32. Steel Dynamics, Inc. has a 12-month low of $103.17 and a 12-month high of $155.56. The stock has a 50 day moving average price of $126.17 and a 200 day moving average price of $128.60.

Steel Dynamics (NASDAQ:STLD - Get Free Report) last issued its quarterly 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 quarter in the previous year, the business earned $2.61 EPS. On average, equities analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 11th. Investors of record on Monday, March 31st were paid a dividend of $0.50 per share. This is a positive change from Steel Dynamics's previous quarterly dividend of $0.46. This represents a $2.00 annualized dividend and a yield of 1.68%. The ex-dividend date of this dividend was Monday, March 31st. Steel Dynamics's dividend payout ratio (DPR) is currently 20.41%.

Steel Dynamics declared that its Board of Directors has initiated a stock buyback program on Monday, February 24th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the basic materials company to repurchase up to 7.4% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's board believes its stock is undervalued.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on STLD. KeyCorp upgraded shares of Steel Dynamics from a "sector weight" rating to an "overweight" rating and set a $155.00 price objective for the company in a report on Tuesday, February 11th. Citigroup decreased their target price on Steel Dynamics from $160.00 to $145.00 and set a "buy" rating for the company in a research report on Thursday, December 19th. StockNews.com raised shares of Steel Dynamics from a "sell" rating to a "hold" rating in a research note on Thursday, March 6th. UBS Group raised Steel Dynamics from a "neutral" rating to a "buy" rating and set a $149.00 price target on the stock in a research report on Monday, March 24th. Finally, Jefferies Financial Group upgraded Steel Dynamics from a "hold" rating to a "buy" rating and lifted their price objective for the company from $125.00 to $145.00 in a research note on Friday, January 24th. Four investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $149.11.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of the firm's stock in a transaction that occurred on Tuesday, February 11th. The stock was 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 in the company, valued at $16,448,593.80. This trade represents a 16.22 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 6.30% of the stock is currently owned by insiders.

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.