Steel Dynamics, Inc. (NASDAQ:STLD) Stock Holdings Lowered by Ethic Inc.

Ethic Inc. cut its holdings in shares of Steel Dynamics, Inc. (NASDAQ:STLD) by 15.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 21,254 shares of the basic materials company’s stock after selling 3,829 shares during the period. Ethic Inc.’s holdings in Steel Dynamics were worth $2,424,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in STLD. Wilmington Savings Fund Society FSB acquired a new stake in shares of Steel Dynamics during the 3rd quarter valued at $25,000. IAG Wealth Partners LLC acquired a new position in shares of Steel Dynamics in the 4th quarter worth $39,000. Avalon Trust Co acquired a new stake in shares of Steel Dynamics during the fourth quarter worth $42,000. Golden State Wealth Management LLC purchased a new stake in shares of Steel Dynamics during the fourth quarter valued at $48,000. Finally, Transamerica Financial Advisors Inc. lifted its holdings in shares of Steel Dynamics by 1,400.0% during the fourth quarter. Transamerica Financial Advisors Inc. now owns 450 shares of the basic materials company’s stock valued at $52,000 after purchasing an additional 420 shares during the last quarter. 82.41% of the stock is currently owned by institutional investors.

Steel Dynamics Stock Performance

Shares of STLD opened at $130.52 on Monday. The company has a market capitalization of $19.56 billion, a PE ratio of 13.32, a PEG ratio of 1.05 and a beta of 1.44. 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 company’s 50 day moving average price is $123.59 and its 200 day moving average price is $128.11. Steel Dynamics, Inc. has a 52 week low of $103.17 and a 52 week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last issued its earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.40 by $0.04. Steel Dynamics had a net margin of 8.76% and a return on equity of 17.32%. The company had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.17 billion. During the same quarter last year, the business posted $3.67 EPS. Research analysts expect that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics announced that its board has initiated a stock repurchase plan 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 plans are generally an indication that the company’s management believes its shares are undervalued.

Steel Dynamics Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 11th. Shareholders of record on Monday, June 30th will be paid a $0.50 dividend. The ex-dividend date is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a yield of 1.53%. Steel Dynamics’s dividend payout ratio (DPR) is currently 26.42%.

Insider Buying and Selling at Steel Dynamics

In other Steel Dynamics 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 value of $3,184,810.83. Following the completion of the sale, the senior vice president now directly owns 122,140 shares of the company’s stock, valued at $16,448,593.80. The trade was a 16.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 6.30% of the company’s stock.

Analysts Set New Price Targets

STLD has been the topic of a number of analyst reports. Wolfe Research raised Steel Dynamics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, February 27th. KeyCorp upgraded shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 target price for the company in a report on Tuesday, February 11th. Morgan Stanley set a $140.00 target price on shares of Steel Dynamics and gave the stock an “overweight” rating in a research report on Thursday, April 24th. BMO Capital Markets upgraded shares of Steel Dynamics from a “market perform” rating to an “outperform” rating and upped their price target for the company from $135.00 to $145.00 in a research report on Monday, March 31st. Finally, StockNews.com lowered shares of Steel Dynamics from a “hold” rating to a “sell” rating in a research note on Friday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $147.44.

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.