Steel Dynamics, Inc. (NASDAQ:STLD) Position Boosted by Fielder Capital Group LLC

Fielder Capital Group LLC lifted its stake in Steel Dynamics, Inc. (NASDAQ:STLD) by 4.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 3,169 shares of the basic materials company’s stock after acquiring an additional 129 shares during the quarter. Fielder Capital Group LLC’s holdings in Steel Dynamics were worth $362,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Wilmington Savings Fund Society FSB acquired a new position in Steel Dynamics in the 3rd quarter valued at approximately $25,000. ORG Wealth Partners LLC purchased a new position in shares of Steel Dynamics during the 4th quarter valued at $28,000. Private Trust Co. NA increased its stake in shares of Steel Dynamics by 532.6% in the third quarter. Private Trust Co. NA now owns 291 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 245 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of Steel Dynamics during the fourth quarter worth $48,000. Finally, Brooklyn Investment Group acquired a new stake in Steel Dynamics during the third quarter valued at $61,000. 82.41% of the stock is currently owned by institutional investors and hedge funds.

Steel Dynamics Trading Down 0.1 %

Shares of NASDAQ:STLD opened at $133.32 on Friday. 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 stock’s 50-day moving average is $125.00 and its 200-day moving average is $127.17. The company has a market cap of $20.30 billion, a P/E ratio of 13.60, a P/E/G ratio of 1.05 and a beta of 1.35. Steel Dynamics, Inc. has a 52-week low of $104.60 and a 52-week high of $155.56.

Steel Dynamics (NASDAQ:STLD) last released its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 period last year, the business posted $2.61 earnings per share. Equities research analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be paid a dividend of $0.50 per share. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.46. This represents a $2.00 annualized dividend and a yield of 1.50%. The ex-dividend date is Monday, March 31st. Steel Dynamics’s dividend payout ratio is presently 20.41%.

Steel Dynamics declared that its Board of Directors has initiated a stock repurchase 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 repurchase up to 7.4% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s leadership believes its stock is undervalued.

Analysts Set New Price Targets

STLD has been the subject of a number of recent research reports. Morgan Stanley raised their price target on Steel Dynamics from $131.00 to $145.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. Jefferies Financial Group upgraded shares of Steel Dynamics from a “hold” rating to a “buy” rating and lifted their target price for the company from $125.00 to $145.00 in a research note on Friday, January 24th. 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 report on Thursday, December 19th. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. Finally, StockNews.com cut shares of Steel Dynamics from a “hold” rating to a “sell” rating in a report on Wednesday. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Steel Dynamics presently has an average rating of “Hold” and an average price target of $146.22.

Insider Buying and Selling at Steel Dynamics

In other news, SVP Glenn Pushis sold 23,649 shares of the business’s stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $134.67, for a total transaction of $3,184,810.83. Following the transaction, 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 document filed with the SEC, which can be accessed through the SEC website. Insiders own 6.00% of the company’s stock.

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.