Steel Dynamics, Inc. (NASDAQ:STLD) Shares Sold by Sprott Inc.

Sprott Inc. lessened its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 5.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 93,700 shares of the basic materials company’s stock after selling 5,200 shares during the quarter. Sprott Inc. owned approximately 0.06% of Steel Dynamics worth $10,688,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in Steel Dynamics during the 3rd quarter valued at approximately $25,000. ORG Wealth Partners LLC bought a new stake in Steel Dynamics in the fourth quarter valued at $28,000. Private Trust Co. NA boosted its holdings in shares of Steel Dynamics by 532.6% during the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 245 shares during the period. Golden State Wealth Management LLC bought a new position in shares of Steel Dynamics during the fourth quarter worth about $48,000. Finally, Brooklyn Investment Group acquired a new stake in shares of Steel Dynamics in the 3rd quarter worth about $61,000. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Price Performance

Shares of Steel Dynamics stock opened at $133.48 on Wednesday. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56. 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 stock has a market cap of $20.32 billion, a PE ratio of 13.62, a price-to-earnings-growth ratio of 1.05 and a beta of 1.35. The company’s 50-day moving average price is $124.31 and its two-hundred day moving average price is $127.08.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 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 prior year, the company earned $2.61 earnings per share. As a group, sell-side analysts anticipate that Steel Dynamics, Inc. will post 9.01 EPS for the current fiscal year.

Steel Dynamics Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 11th. Stockholders of record on Monday, March 31st will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.50%. The ex-dividend date of this dividend is Monday, March 31st. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.46. Steel Dynamics’s dividend payout ratio is 18.78%.

Steel Dynamics announced that its board has initiated a share buyback plan on Monday, February 24th that permits the company to buyback $1.50 billion in outstanding shares. This buyback authorization permits the basic materials company to reacquire up to 7.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s board of directors believes its shares are undervalued.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on STLD. StockNews.com raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research note on Thursday, February 13th. Jefferies Financial Group raised Steel Dynamics from a “hold” rating to a “buy” rating and increased their price objective for the stock from $125.00 to $145.00 in a report on Friday, January 24th. KeyCorp raised Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 target price on the stock in a research note on Tuesday, February 11th. Citigroup decreased their price target on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating for the company in a research note on Thursday, December 19th. Finally, The Goldman Sachs Group assumed coverage on shares of Steel Dynamics in a research note on Monday, December 2nd. They set a “neutral” rating and a $155.00 price objective on the stock. Six research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $146.22.

Insider Transactions at Steel Dynamics

In other Steel Dynamics news, SVP Glenn Pushis sold 23,649 shares of the business’s stock in a transaction dated 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 sale, the senior vice president now owns 122,140 shares in the company, valued at approximately $16,448,593.80. The trade was a 16.22 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 6.00% of the company’s stock.

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.