7,504 Shares in Steel Dynamics, Inc. (NASDAQ:STLD) Purchased by Partners in Financial Planning

Partners in Financial Planning purchased a new stake in Steel Dynamics, Inc. (NASDAQ:STLD) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 7,504 shares of the basic materials company’s stock, valued at approximately $856,000.

A number of other large investors have also recently modified their holdings of the business. Norges Bank bought a new stake in Steel Dynamics during the fourth quarter valued at approximately $336,426,000. Holocene Advisors LP increased its stake in Steel Dynamics by 85.8% in the third quarter. Holocene Advisors LP now owns 2,295,365 shares of the basic materials company’s stock valued at $289,400,000 after acquiring an additional 1,060,007 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Steel Dynamics by 6.6% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,546,104 shares of the basic materials company’s stock valued at $194,933,000 after purchasing an additional 96,122 shares in the last quarter. Nordea Investment Management AB lifted its stake in Steel Dynamics by 22.4% during the fourth quarter. Nordea Investment Management AB now owns 1,384,526 shares of the basic materials company’s stock worth $158,487,000 after purchasing an additional 253,802 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Steel Dynamics by 0.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,374,907 shares of the basic materials company’s stock worth $156,836,000 after purchasing an additional 11,672 shares in the last quarter. Institutional investors own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of STLD stock opened at $123.97 on Monday. The firm has a market capitalization of $18.58 billion, a price-to-earnings ratio of 12.65, a PEG ratio of 1.05 and a beta of 1.34. The stock has a fifty day moving average of $128.46 and a 200 day moving average of $128.80. Steel Dynamics, Inc. has a 52 week low of $104.60 and a 52 week high of $155.56. 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 (NASDAQ:STLD) last posted its earnings results on Wednesday, January 22nd. The basic materials company reported $1.36 EPS for the quarter, missing the consensus estimate 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 previous year, the firm earned $2.61 earnings per share. As a group, research analysts expect that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics declared that its board has initiated a stock 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 purchase up to 7.4% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board believes its shares are undervalued.

Steel Dynamics Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.50 per share. This is an increase from Steel Dynamics’s previous quarterly dividend of $0.46. The ex-dividend date is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a dividend yield of 1.61%. Steel Dynamics’s dividend payout ratio is 20.41%.

Insider Transactions at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of the 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 completion of the transaction, the senior vice president now directly owns 122,140 shares in the company, valued at $16,448,593.80. This trade represents a 16.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 6.30% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. Morgan Stanley raised Steel Dynamics from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $145.00 to $158.00 in a research note on Friday, March 7th. BNP Paribas raised shares of Steel Dynamics from a “neutral” rating to an “outperform” rating in a report on Friday, January 3rd. UBS Group upgraded 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. Citigroup cut their price target 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. Finally, The Goldman Sachs Group assumed coverage on Steel Dynamics in a report on Monday, December 2nd. They issued a “neutral” rating and a $155.00 price objective on the stock. Five equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.