By otakuyassine3@gmail.com 
US Bancorp DE cut its holdings in Steel Dynamics, Inc. (NASDAQ:STLD – Free Report) by 11.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently bought and sold shares of the company. Maripau Wealth Management LLC purchased a new position in shares of Steel Dynamics during the fourth quarter valued at approximately $304,000. Fielder Capital Group LLC increased its position in Steel Dynamics by 4.2% during the 4th quarter. Fielder Capital Group LLC now owns 3,169 shares of the basic materials company’s stock valued at $362,000 after purchasing an additional 129 shares during the period. QRG Capital Management Inc. raised its holdings in Steel Dynamics by 26.9% in the 4th quarter. QRG Capital Management Inc. now owns 82,482 shares of the basic materials company’s stock worth $9,409,000 after purchasing an additional 17,489 shares in the last quarter. Versor Investments LP increased its position in shares of Steel Dynamics by 15.1% during the fourth quarter. Versor Investments LP now owns 1,956 shares of the basic materials company’s stock valued at $223,000 after buying an additional 256 shares during the period. Finally, Proficio Capital Partners LLC bought a new stake in Steel Dynamics during the 4th quarter valued at approximately $10,555,000. Hedge funds and other institutional investors own 82.41% of the company’s stock.
Steel Dynamics Price Performance
Shares of NASDAQ:STLD opened at $125.03 on Friday. The business has a 50-day simple moving average of $126.25 and a two-hundred day simple moving average of $127.60. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.08 and a current ratio of 2.53. The firm has a market cap of $18.78 billion, a price-to-earnings ratio of 12.76, a price-to-earnings-growth ratio of 1.05 and a beta of 1.34. Steel Dynamics, Inc. has a fifty-two week low of $104.60 and a fifty-two week high of $155.56.
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 the consensus estimate of $1.69 by ($0.33). Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. During the same quarter in the previous year, the firm earned $2.61 EPS. On average, analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.
Steel Dynamics Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be paid a $0.50 dividend. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.46. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date is Monday, March 31st. Steel Dynamics’s dividend payout ratio (DPR) is 20.41%.
Steel Dynamics declared that its Board of Directors has authorized 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 stock through open market purchases. Stock repurchase programs are often a sign that the company’s leadership believes its shares are undervalued.
Wall Street Analyst Weigh In
A number of research firms have recently weighed in on STLD. The Goldman Sachs Group initiated coverage on shares of Steel Dynamics in a research report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 target price on the stock. Citigroup decreased their target price 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. Morgan Stanley raised Steel Dynamics from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $145.00 to $158.00 in a research report on Friday. BNP Paribas upgraded Steel Dynamics from a “neutral” rating to an “outperform” rating in a research note on Friday, January 3rd. Finally, UBS Group restated a “neutral” rating and set a $149.00 price target (up from $145.00) on shares of Steel Dynamics in a report on Thursday, December 12th. Six equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $147.67.
Check Out Our Latest Stock Analysis on Steel Dynamics
Insider Buying and Selling
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 transaction, the senior vice president now directly 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 document filed with the SEC, which is accessible through this hyperlink. 6.00% of the stock is currently owned by corporate 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.
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