UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Acquires 754 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 0.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,546,858 shares of the basic materials company’s stock after purchasing an additional 754 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Steel Dynamics were worth $176,450,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. IAG Wealth Partners LLC bought a new stake in shares of Steel Dynamics in the fourth quarter worth $39,000. Avalon Trust Co bought a new stake in Steel Dynamics during the fourth quarter valued at $42,000. Golden State Wealth Management LLC bought a new stake in Steel Dynamics during the fourth quarter valued at $48,000. Transamerica Financial Advisors Inc. grew its holdings in Steel Dynamics by 1,400.0% during the 4th quarter. Transamerica Financial Advisors Inc. now owns 450 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 420 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Steel Dynamics by 38.4% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 541 shares of the basic materials company’s stock worth $62,000 after acquiring an additional 150 shares during the period. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Down 1.8%

STLD opened at $129.89 on Friday. The company has a fifty day moving average price of $125.41 and a 200-day moving average price of $128.25. The firm has a market capitalization of $19.28 billion, a P/E ratio of 13.25, a price-to-earnings-growth ratio of 1.05 and a beta of 1.44. The company has a debt-to-equity ratio of 0.32, a current ratio of 2.53 and a quick ratio of 1.08. Steel Dynamics, Inc. has a one year low of $103.17 and a one year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last released its quarterly earnings results on Tuesday, April 22nd. The basic materials company reported $1.44 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 firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.17 billion. During the same period in the previous year, the business earned $3.67 EPS. Equities research analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current fiscal year.

Steel Dynamics declared that its board has initiated a share buyback program on Monday, February 24th that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the basic materials company to repurchase up to 7.4% of its shares through open market purchases. Shares repurchase programs are usually an indication that the company’s board of directors believes its shares are undervalued.

Steel Dynamics Announces Dividend

The firm also recently declared 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. This represents a $2.00 annualized dividend and a yield of 1.54%. The ex-dividend date of this dividend is Monday, June 30th. Steel Dynamics’s dividend payout ratio is presently 26.42%.

Insiders Place Their Bets

In other Steel Dynamics news, SVP Miguel Alvarez sold 7,495 shares of the business’s stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $135.26, for a total value of $1,013,773.70. Following the completion of the sale, the senior vice president now directly owns 125,319 shares of the company’s stock, valued at $16,950,647.94. The trade was a 5.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 6.30% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on STLD shares. Jefferies Financial Group upgraded Steel Dynamics from a “hold” rating to a “buy” rating and increased their price target for the stock from $125.00 to $145.00 in a report on Friday, January 24th. JPMorgan Chase & Co. raised their price target on shares of Steel Dynamics from $135.00 to $138.00 and gave the company a “neutral” rating in a research report on Thursday, April 24th. Wolfe Research raised shares of Steel Dynamics from an “underperform” rating to a “peer perform” rating in a research report on Thursday, February 27th. UBS Group raised shares of Steel Dynamics from a “neutral” rating to a “buy” rating and set a $149.00 target price on the stock in a research report on Monday, March 24th. Finally, Wall Street Zen cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a report on Friday, April 25th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Steel Dynamics currently has an average rating of “Moderate Buy” and an average target price 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.