Steel Dynamics, Inc. (NASDAQ:STLD) Position Decreased by Wambolt & Associates LLC

Wambolt & Associates LLC reduced its holdings in Steel Dynamics, Inc. (NASDAQ:STLD) by 13.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,699 shares of the basic materials company’s stock after selling 2,807 shares during the quarter. Wambolt & Associates LLC’s holdings in Steel Dynamics were worth $2,133,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new position in Steel Dynamics in the third quarter worth approximately $25,000. ORG Wealth Partners LLC acquired a new stake in shares of Steel Dynamics during the fourth quarter worth $28,000. Private Trust Co. NA lifted 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 purchasing an additional 245 shares during the last quarter. IAG Wealth Partners LLC acquired a new position in shares of Steel Dynamics in the 4th quarter valued at $39,000. Finally, Avalon Trust Co purchased a new stake in Steel Dynamics during the fourth quarter valued at about $42,000. 82.41% of the stock is owned by institutional investors and hedge funds.

Steel Dynamics Price Performance

Shares of NASDAQ:STLD opened at $126.66 on Tuesday. The business’s 50 day moving average is $128.29 and its 200-day moving average is $128.31. 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 firm has a market capitalization of $18.99 billion, a PE ratio of 12.92, a PEG ratio of 1.05 and a beta of 1.34. Steel Dynamics, Inc. has a 1-year low of $104.60 and a 1-year high of $155.56.

Steel Dynamics (NASDAQ:STLD) last announced its quarterly earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 earnings per share (EPS) for the quarter, missing the consensus estimate 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 quarter in the prior year, the business posted $2.61 earnings per share. Sell-side analysts predict 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 plan on Monday, February 24th that allows the company to buyback $1.50 billion in shares. This buyback authorization allows the basic materials company to repurchase up to 7.4% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s board of directors believes its stock is undervalued.

Steel Dynamics Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 11th. Investors of record on Monday, March 31st will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 1.58%. The ex-dividend date of this dividend is Monday, March 31st. This is a positive change from Steel Dynamics’s previous quarterly dividend of $0.46. Steel Dynamics’s dividend payout ratio is 20.41%.

Insiders Place Their Bets

In other news, SVP Glenn Pushis sold 23,649 shares of the company’s stock in a transaction dated 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 sale, the senior vice president now owns 122,140 shares of the company’s stock, valued at approximately $16,448,593.80. This represents a 16.22 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 6.00% of the company’s stock.

Analyst Upgrades and Downgrades

STLD has been the subject of several research analyst reports. BNP Paribas upgraded shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a research report on Friday, January 3rd. KeyCorp upgraded 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. Citigroup lowered their price target on Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a report on Thursday, December 19th. Jefferies Financial Group raised Steel Dynamics from a “hold” rating to a “buy” rating and upped their price target for the company from $125.00 to $145.00 in a research report on Friday, January 24th. Finally, The Goldman Sachs Group initiated coverage on Steel Dynamics in a research report on Monday, December 2nd. They set a “neutral” rating and a $155.00 price objective for the company. Five equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Steel Dynamics currently has an average rating of “Moderate Buy” and an average price target of $148.56.

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.