Gallacher Capital Management LLC Sells 81 Shares of Steel Dynamics, Inc. (NASDAQ:STLD)

Gallacher Capital Management LLC decreased its position in Steel Dynamics, Inc. (NASDAQ:STLD) by 3.4% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,313 shares of the basic materials company’s stock after selling 81 shares during the period. Gallacher Capital Management LLC’s holdings in Steel Dynamics were worth $264,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in the company. Harbour Capital Advisors LLC raised its stake in shares of Steel Dynamics by 133.7% in the 4th quarter. Harbour Capital Advisors LLC now owns 11,499 shares of the basic materials company’s stock valued at $1,301,000 after purchasing an additional 6,579 shares during the period. Oak Thistle LLC acquired a new stake in Steel Dynamics during the fourth quarter worth approximately $1,725,000. Foster & Motley Inc. raised its position in shares of Steel Dynamics by 8.0% in the fourth quarter. Foster & Motley Inc. now owns 35,299 shares of the basic materials company’s stock valued at $4,027,000 after buying an additional 2,602 shares in the last quarter. Larson Financial Group LLC raised its position in shares of Steel Dynamics by 9,465.5% in the third quarter. Larson Financial Group LLC now owns 18,844 shares of the basic materials company’s stock valued at $2,376,000 after buying an additional 18,647 shares in the last quarter. Finally, Nordea Investment Management AB raised its position 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 valued at $158,487,000 after purchasing an additional 253,802 shares in the last quarter. Institutional investors and hedge funds own 82.41% of the company’s stock.

Steel Dynamics Stock Performance

Shares of NASDAQ STLD opened at $127.14 on Monday. The company has a current ratio of 2.53, a quick ratio of 1.08 and a debt-to-equity ratio of 0.32. Steel Dynamics, Inc. has a 12 month low of $104.60 and a 12 month high of $155.56. The company has a 50 day simple moving average of $127.38 and a two-hundred day simple moving average of $127.89. The stock has a market cap of $19.09 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 1.05 and a beta of 1.34.

Steel Dynamics (NASDAQ:STLD) last issued its quarterly 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 business posted $2.61 earnings per share. As a group, analysts predict that Steel Dynamics, Inc. will post 9.01 earnings per share for the current year.

Steel Dynamics declared that its Board of Directors has initiated a share repurchase program on Monday, February 24th that allows the company to buyback $1.50 billion in outstanding shares. This buyback authorization allows the basic materials company to purchase up to 7.4% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its stock is undervalued.

Steel Dynamics Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 11th. Shareholders of record on Monday, March 31st will be given a $0.50 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $2.00 dividend on an annualized basis and a yield of 1.57%. This is a boost from Steel Dynamics’s previous quarterly dividend of $0.46. Steel Dynamics’s dividend payout ratio is presently 20.41%.

Insider Buying and Selling at Steel Dynamics

In related news, SVP Glenn Pushis sold 23,649 shares of the company’s stock in a transaction that occurred on 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 sale, the senior vice president now directly owns 122,140 shares in the company, valued at approximately $16,448,593.80. This represents a 16.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.00% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

STLD has been the topic of several analyst reports. Citigroup reduced their price objective on shares of Steel Dynamics from $160.00 to $145.00 and set a “buy” rating on the stock in a research note on Thursday, December 19th. KeyCorp raised shares of Steel Dynamics from a “sector weight” rating to an “overweight” rating and set a $155.00 price objective for the company in a research report on Tuesday, February 11th. StockNews.com raised shares of Steel Dynamics from a “sell” rating to a “hold” rating in a research report on Thursday, March 6th. Morgan Stanley raised shares of Steel Dynamics from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $145.00 to $158.00 in a report on Friday, March 7th. Finally, UBS Group reiterated a “neutral” rating and issued a $149.00 target price (up from $145.00) on shares of Steel Dynamics in a research note on Thursday, December 12th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $148.56.

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.