Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Union Bancaire Privee UBP SA

Union Bancaire Privee UBP SA cut its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 20.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,150 shares of the basic materials company’s stock after selling 304 shares during the period. Union Bancaire Privee UBP SA’s holdings in Steel Dynamics were worth $135,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. IAG Wealth Partners LLC acquired a new position in shares of Steel Dynamics during the fourth quarter valued at $39,000. Investment Management Corp VA ADV acquired a new position in shares of Steel Dynamics during the fourth quarter valued at $40,000. Avalon Trust Co acquired a new position in shares of Steel Dynamics during the fourth quarter valued at $42,000. Park Square Financial Group LLC acquired a new position in shares of Steel Dynamics during the fourth quarter valued at $45,000. Finally, Sunbelt Securities Inc. increased its holdings in shares of Steel Dynamics by 100.0% during the fourth quarter. Sunbelt Securities Inc. now owns 400 shares of the basic materials company’s stock valued at $46,000 after purchasing an additional 200 shares during the period. 82.41% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Miguel Alvarez sold 7,495 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $135.26, for a total transaction of $1,013,773.70. Following the completion of the sale, the senior vice president now directly owns 125,319 shares in the company, valued at approximately $16,950,647.94. This trade represents a 5.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Gabriel Shaheen sold 1,254 shares of the firm’s stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $134.11, for a total value of $168,173.94. Following the sale, the director now owns 81,812 shares of the company’s stock, valued at $10,971,807.32. The trade was a 1.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.30% of the company’s stock.

Steel Dynamics Trading Up 1.2%

NASDAQ:STLD opened at $133.48 on Friday. 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 1-year low of $103.17 and a 1-year high of $155.56. The firm has a market capitalization of $19.82 billion, a price-to-earnings ratio of 13.62, a price-to-earnings-growth ratio of 1.05 and a beta of 1.38. The stock has a fifty day simple moving average of $127.95 and a 200 day simple moving average of $126.80.

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

Steel Dynamics announced that its board has authorized a share buyback program on Monday, February 24th that permits the company to buyback $1.50 billion in shares. This buyback authorization permits 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 of directors believes its shares are undervalued.

Steel Dynamics Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 11th. Investors of record on Monday, June 30th will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.50%. Steel Dynamics’s dividend payout ratio (DPR) is 26.42%.

Analyst Ratings Changes

STLD has been the topic of a number of research analyst reports. 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 report on Monday, March 24th. Wall Street Zen lowered Steel Dynamics from a “hold” rating to a “sell” rating in a report on Friday, April 25th. JPMorgan Chase & Co. raised their target price on Steel Dynamics from $135.00 to $138.00 and gave the company a “neutral” rating in a research note on Thursday, April 24th. Morgan Stanley set a $140.00 target price on Steel Dynamics and gave the company an “overweight” rating in a research note on Thursday, April 24th. Finally, Wolfe Research raised Steel Dynamics from an “underperform” rating to a “peer perform” rating in a research note on Thursday, February 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $147.44.

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.